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Second-stage drilling on 16% of the company’s Ledjadja Coal joint venture resulted in an increase in probable reserves to 603.3 million tonnes.
A new inferred resource of 1.7 billion tonnes has been posted.
“These results confirm our expectation of a very large resource which is contiguous in terms of coal thickness and quality, present at shallow depth from the surface across a concentrated area of the Boikarabelo project from Waterberg #1 through Witkopje and Draai Om right up to the known fault half-way across Kalkpan,” Resource Generation managing director Paul Jury said.
“We are confidently moving forward with our plans to develop a major mining operation that can sustain large levels of both export and domestic production over many years.”
Several more stages of drilling are planned for the Ledjadja and Waterberg One tenements.
Resource Generation was trading up 2.25% this morning at 45.5c.
