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SENSEN NETWORKS LIMITED — Capital/Financing Update 2012
Sep 12, 2012
65829_rns_2012-09-12_b50130e2-83db-4f33-aca6-e3cd82e77f85.pdf
Capital/Financing Update
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13 September 2012
ORPHEUS COMMENCES JORC DRILLING PROGRAM AT CITRA BARA PRIMA PROJECT
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12 hole drilling program at the Citra Bara Prima (‘CBP’) each to a target depth of 100m
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Located adjacent to one of PT Arutmin’s major operating coal mines and approximately 6km from Orpheus’ Kintap ADK project Exploration target of 2.0 – 4.5Mt
Orpheus Energy (ASX:OEG) today announced that it has commenced its exploration drilling program at CBP, with a 12 hole program, each to a target depth of 100m.
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As previously announced on 4 September 2012, the CBP tenement covers an area of approximately 195 hectares, and has been previously drilled. Orpheus’ technical team has conducted desktop analysis on earlier exploration results, identifying a minimum of two coal seams varying in thickness from 4 to 12 metres, near surface.
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Orpheus currently has an exploration target of 2.0 - 4.5Mt and the current drilling program is expected to delineate a JORC resource.
The CBP project is located approximately 6km south-west of Orpheus’ ADK project and is close to the river side barge loading facility at SKJM, located less than 2km away.
During the current CBP drilling program, Orpheus is developing its preliminary mine plan so that the project can rapidly move into production, planned to be in Q4 2012. At this stage, it is anticipated that the CBP project will be mined at a rate of 50,000tpm, when in steady-state production.
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For further information, please contact: David Smith Email: [email protected] Phone +61 2 9922 3930 www.orpheusenergy.com.au
Released through:
Sam Sloane Six Degrees Investor Relations +61 2 9230 0661 or +61 412 845 920
ASX Release Page 2
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Cautionary Note:
This release may contain forward-looking statements that are based upon management’s expectations and beliefs in regards to future events. These statements are subjected to risk and uncertainties that might be out of control of Orpheus Energy Limited and may cause actual results to differ from the release. Orpheus Energy Limited takes no responsibility to make changes to these statements to reflect change of events or circumstances after the release.
Competent Person’s Statement:
The statements above apply in respect of the information in this announcement that relates to exploration targets and mineral resources. The information is based on, and accurately reflects information compiled by Wes Harder, who is a Member of the Australasian Institute of Mining and Metallurgy. Wes Harder is a Director of Orpheus Energy Limited and is a Geologist who has sufficient experience which is relevant to the style of coal mineralisation and type of deposit under discussion 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". Wes Harder consents to the inclusion in the report of the material, based on his information, in the form and context in which it appears.
*** JORC- Exploration Target**
It is common practice for a company to comment and discuss its exploration in terms of target and size type. The information in this announcement relating to exploration targets should not be misunderstood or misconstrued as an estimate of mineral resources or ore reserves. The potential quantity and grade is conceptual nature, there has been insufficient work completed to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource.
ASX Release Page 3