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JAMESON RESOURCES LIMITED — Capital/Financing Update 2012
Sep 13, 2012
65152_rns_2012-09-13_56078ae5-d5e3-4c4b-8ead-2b3d04eab44f.pdf
Capital/Financing Update
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14 September 2012
ASX RELEASE
JAMESON RESOURCES LTD ACN 126 398 294
Level 2, 79 Hay Street Subiaco, WA , 6008 Phone+61 (8) 9200 4473 Fax +61 (8) 9200 4463
Suite 800, 1199 West Hastings St Vancouver, BCV6E 3TS Phone +1 (604) 629 8605
CONTACT:
DAVID FAWCETT Chairman [email protected]
JOHN HOLMES Managing Director [email protected]
ART PALM Executive Director ‐ Operations [email protected]
Completion of Drilling at Crown Mountain
Jameson Resources Limited is pleased to announce that its wholly owned Canadian subsidiary NWP Coal Canada Ltd (“NWP”) has successfully completed the first phase exploration program on its Crown Mountain coal project.
The program was completed ahead of schedule and under budget. Twenty‐five reverse circulation holes were drilled for a total of 3,725m along with trenching and geological mapping. The majority of holes terminated in the basal sandstone with the average hole depth being 149m.
Coal seam intercepts generally conform to the database from the previous limited exploration in the area, although some unexpected seams were encountered on a local basis which will require further evaluation before their potential can be determined.
Samples were collected across coal seam intercepts from the majority of holes and trenches. All samples have been delivered to Birtley Laboratories in Calgary for coal quality test work which will include proximate analysis, ultimate analysis, washability and a selection of other tests for metallurgical coal. First results from the coal quality test‐work are expected within four weeks.
NWP is awaiting approval by the British Columbia Ministry of Energy and Mines on a supplemental Notice of Work and may, depending on timing of that approval, elect to perform additional exploration during October.
The objectives for the additional drilling are to:
WEBSITE
DIRECTORS:
David Fawcett (Chairman) John Holmes (Managing Director) Art Palm (Executive Director ‐ Operations) David Prentice (Non Exec. Director) Jeff Bennett (Non Exec. Director)
ASX CODE:
JAL (Fully paid Ordinary Shares)
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a) further define the resource base as currently modelled
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b) evaluate the potential to expand beyond the current resource base
The Company expects to file its inaugural JORC/NI43‐101 compliant resource for the Crown Mountain project by the end of 2012.
On Behalf of the Board of Directors,
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John Holmes Managing Director – Jameson Resources Limited
About Jameson Resources Limited
Jameson Resources Limited (ASX:JAL) is a junior resources company focused on the acquisition, exploration and development of strategic coal projects in western Canada. The Company has acquired a 90% interest in the Crown Mountain coal project, and a 100% interest in the Peace River coal projects located in British Columbia. Jameson’s tenement portfolio in British Columbia is positioned in coalfields responsible for the majority of Canada’s metallurgical coal exports and are all close to railways connecting to export facilities.
To learn more, please contact the Company at +61 89200 4473 visit: www.jamesonresources.com.au
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Figure 1 – Crown Mountain Drill Hole Location Plan
The information pertaining to the ASX Announcement to which this statement is attached that relates to exploration results is based on information compiled by Mr John Holmes, who is a member of the Australian Institute of Geoscientists. Mr. Holmes is a full time employee of Jameson Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Holmes consents to the inclusion in the ASX Announcement of the matters based on his information in the form and context in which it appears.