| Miranda, today announces that two further prospecting rights for coal have been granted to the group by the Department of Minerals and Energy (“DME”). With these 2 additional rights, Miranda is now in the possession of six prospecting rights in the KZN province.
Applewood Trading 3 (Pty) Ltd and Nungu Trading 695 (Pty) Ltd
The rights have been granted over three contiguous farms, namely Bosch Hoek 1312 and Bosch Kloof 1073 (Applewood) and Wasbank (Nungu) covering an area of 6609 hectares.
The project area is situated 10km’s southwest of the town Glencoe and borders the farms Uithoek and Burnside, on which the group hold existing prospecting permits.
Top and Bottom Seam’s occur in the area as economic seams and are reported on in the preliminary resource calculations. Both seams have soft and hard coking coal properties, with some selected areas recording high swell indexes, which may yield high grade coking coal properties. The current borehole data is of a sufficient density to be classified as an “Indicated” resource for the SAMREC classification for multi-seam deposits.
Analysis of the borehole data on Bosch Hoek and Bosch Kloof, demonstrate an in-situ resource of 52,2 million tons. Previous exploration was conducted by ISCOR Limited in the late 1960’s and early 1980’.
Management are currently reviewing the borehole data on the farm Wasbank to determine the size of the resource, which once determined will be communicated to shareholders. |
