RNS Number : 9458Q
Central African Mining&Exploration
22 April 2009
Central African Mining and Exploration Company Plc ('CAMEC' or 'the
Company')
CFM/ Index: AIM/ Sector: Mining & Exploration
22 April 2009
Central African Mining & Exploration Company Plc
Reports in excess of 1 billion tonne JORC coal resource for L871
in Mozambique
Central African Mining and Exploration Company Plc, the Africa-focussed
emerging diversified producer, announces an initial independent JORC compliant
1.033 billion tonne coal resource for exploration licence 871L in the Tete Province
of Mozambique.
Highlights:
Initial JORC resource of 1.0334 billion tonnes published by SRK
Consulting (South Africa) (Pty) Limited ('SRK')
CAMEC identified eleven coal zones partially exposed in surface outcrop
and confirmed by drilling over a strike distance in excess of 7.5km
Coal zones extend to a depth of at least 250 metres and remain open ended
SRK considers multiple coal horizons ('Zones') identified are of economic
importance
Shallow dip makes horizons potential amenable to large scale open cast
mining
Additional resource anticipated through evaluation of other licences
Tete Province of Mozambique considered by the Company as one of the
world's largest untapped coal regions
The Board is reviewing all options with a view to fully demonstrating the
value of CAMEC's coal assets to the market
Working closely with SRK and Mott MacDonald to rapidly advance the
project
CAMEC CEO Andrew Groves said, "The publishing of a coal resource in excess
of one billion
tonnes underpins our belief
that our
licence areas
in Mozambique contain world class coal deposits. In tandem with SRK we have
predominantly targeted the L871 licence due to its location and amenability to
open pit operations and the shallow nature of the horizons. The next step is to
implement a feasibility study to fully assess the production potential of the project
and realise its inherent value."
SRK Consulting (South Africa) (Pty) Limited ('SRK') wa