Company Announcement: Revised Resource Statement – Imaloto Coal Project
Lemur Resources Limited pleased to announce that, following the incorporation of laboratory results from the recently completed Western Drilling Programme at the Company’s Imaloto Coal Project in Madagascar, the JORC compliant resource statement (the “statement”) for the Project has been upgraded, with the key highlights being as follows:
The Imaloto Coal Resource contains 147.5 million Gross Tonnes in Situ (“GTIS”);
52% of the Imaloto Coal Resource now in Measured category and 80% is Measured and Indicated;
Coal contained in the Main Seam, which now totals 73.3 million GTIS, is expected to generate a primary product when washed yielding approximately 67% export grade thermal coal;
The secondary product generated will be suitable as feedstock for a domestic coal fired power station, therefore, assuming a single stage processing, the overall theoretical yield is 100% for the entire Main Seam.Commenting on the latest laboratory results, Lemur’s Managing Director, Mr Blair Sergeant said “Our optimistic view of what value lies within the Imaloto Coal Project continues to be supported through the results of exploration programmes that commenced in March 2009. We now know that the Imaloto resource can be beneficiated to produce an export grade thermal product, a lower quality coal suitable for consumption by a power station and that the project area contains sufficient tonnes to support a mining operation for a sustained period of time." The revised resource statement reflects the consolidated results of a three pronged drilling and laboratory analysis programme which commenced in March 2009. Over this time, 110 boreholes have been drilled for a total of 13,418 metres with 293 samples having now been analysed by InspectorateLaboratories in South Africa.
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