AI assistant
SPARC TECHNOLOGIES LIMITED — Regulatory Filings 2011
Mar 24, 2011
65846_rns_2011-03-24_3ddd98ee-3642-458e-9482-f4a220237c73.pdf
Regulatory Filings
Open in viewerOpens in your device viewer
==> picture [172 x 101] intentionally omitted <==
Significant Coal Intersections at the Comet Ridge Project in the Bowen Basin
Highlights
ASX Announcement 25 March 2011
For more information, contact:
Anthony Clough Managing Director
T: +61 428 980 574
Liza Carpene Company Secretary T: +61 8 6389 7402
Board and Management
Dr Tim Sugden Chairman
Mr Michael Mulroney Non-Executive Director
Ms Amanda Ward Non-Executive Director
Mr Anthony Clough Managing Director
Ms Liza Carpene Company Secretary
Registered & Principal Office:
Suite 3, Level 1, 127 Cambridge Street West Leederville WA 6007, Australia
PO Box 1444 West Leederville WA 6901, Australia
T: +61 8 6389 7407 F: +61 8 9463 7812
Email: [email protected] Website: www.newlandresources.com ABN: 13 009 092 068
Share Registry:
Advanced Share Registry 150 Stirling Highway Nedlands WA 6009, Australia
PO Box 1156 Nedlands WA 6909, Australia T: +61 8 9389 8033
ASX Code: NRL
- Initial 25 hole drilling program completed at the Comet Ridge Project (EPC 1230)
==> picture [11 x 6] intentionally omitted <==
- Multi-seam coal package up to 14 metres thick intersected at shallow depths over a strike length of approximately 5 kilometres
==> picture [11 x 6] intentionally omitted <==
- Potential coking coal product with raw CSN values of up to 8.5
==> picture [11 x 6] intentionally omitted <==
- An initial target raw coal deposit size of 200250 million tonnes within the initial drilling area has been established
==> picture [11 x 6] intentionally omitted <==
- Further drilling and test work to commence shortly with the aim of identifying a JORC Compliant Resource
==> picture [11 x 6] intentionally omitted <==
Newland Resources Limited (Newland) is pleased to announce that the first drilling program at Newland’s 100% owned Comet Ridge Project (EPC 1230) has been completed. A significant area of continuous coal has been identified in the southern portion of the tenement, indicatively correlated with the Fair Hill Formation.
25 drill holes totalling 2,805 metres were completed over an area of approximately 100km[2] . A total of 17 drill holes intersected a multi-ply coal seam ranging from 5 to 14 metres in thickness at shallow depths ranging from approximately 15 to 120 metres (Seam A in Figure 1). Preliminary interpretation of geological and down hole geophysical logging indicates the multi-seam coal sequence sub-crops in the northeast corner of the drilled area and dips gently to the southwest at approximately 5 degrees.
A second coal seam ranging from 1 to 3 metres in thickness was intersected some 25 metres below the main coal seam horizon. The two seams are indicatively correlated with known seams in the Fair Hill Formation.
A number of drilling chip samples were collected to provide preliminary coal quality analysis data. Results for the first five grab samples have returned Crucible Swell Numbers (CSN) ranging from 5.5 to 8.5 with other tested coal properties results consistent with coking coal mining operations in the immediate area. Coal analysis results for other samples are pending.
==> picture [69 x 41] intentionally omitted <==
An initial coal mineralisation target of 200 - 250Mt[1] over the exploration area (some 8,000ha) has been estimated by SRK Consulting based on the preliminary data derived from the 25 completed Newland coal drill holes and historical holes within the southern area of the Comet Ridge tenement. The exploration target is based on a net coal thickness in the range of 5 - 8 metres and an average coal relative density of 1.6 g/cc.
“These initial results are very encouraging and support the Company’s view that we can define a coking coal deposit suitable for a large scale open pit mining operation situated adjacent to existing rail and power infrastructure” said Managing Director, Anthony Clough. “Our priority is to rapidly define a significant, high confidence JORC resource and begin commercialisation studies for the Project.”
Newland plans to commence a second extensive infill drilling program in the next quarter to further define the depth of the weathering sub-crop and extent of the coal seams located to date and enable an initial JORC compliant resource estimate for the southern portion of the Comet Ridge Project. The program will include drilling of cored diamond holes to provide material for the determination of overall coal quality and assess suitability and economics as an export metallurgical coal product.
Geological work is continuing on all other Newland projects in the Bowen Basin in advance of the planned exploration activities in 2011.
For further information, please contact:
ANTHONY CLOUGH LIZA CARPENE Managing Director Company Secretary [email protected] [email protected] M: +61 (0)428 980 574 T: +61 8 6389 7402
About Newland Resources Limited
Newland Resources Limited (NRL) is a growth focused coal exploration company with a number of prospective coal exploration areas within Queensland’s Bowen Basin. NRL is committed to the creation of Shareholder value via the identification and development of coal deposits, with a focus on the prime coal bearing regions of the east coast of Australia. NRL holds 100% interests in its six coal project areas, covering over 1,900km[2] in total. These projects collectively have the potential to host significant deposits of coking, PCI and thermal coal and are typically well located for export infrastructure.
Competency Statement
The information in this report that relates to Exploration Results is based on information reviewed by Mr Neville Terry BEng (Mining) BAppSc (Applied Geology) BEd, Grad Dip Management, who is a Member of the AusIMM. Mr Terry who is a full time employee of SRK has sufficient experience relevant to the style of mineralisation, 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 Terry consents to the inclusion in the report of the matters based on his information in the form and context in which it appears .
1 All statements as to exploration targets of Newland Resources Limited and statements as to potential quality and grade are conceptual in nature. There has been insufficient exploration undertaken to date to define a coal resource and identification of a resource will be totally dependent on the outcome of further exploration. Any statement contained herein as to exploration results or exploration targets has been made consistent with the requirements of the JORC Code.
Page 2 of 3
==> picture [69 x 41] intentionally omitted <==
==> picture [375 x 671] intentionally omitted <==
Figure 1 – Location of Drill Holes Showing Thickness of Coal Seam A and Depth to Top of Seam
Page 3 of 3