2nd Sep 2008 07:00
For immediate release 2 September, 2008
Polo Resources Limited ("Polo Resources", "Polo" or "the Company")
Polo intersects 33.5m of coal in South Gobi at Hud Project
Significant coal seam discovered in South Gobi license area
1,029 metre, nine hole appraisal drilling programme completed
Further appraisal of deeper coal seams planned
Polo has intersected a significant coal seam following the completion of a 1,029 metre, nine hole appraisal programme at its Hud project in the South Gobi Basin which is located 75 kilometres from the world class Tavan Tolgoi Mine site. A summary of the coal intersected in these holes is included below.
Significantly a coal seam of 16.5 metres apparent thickness was intersected at depth in hole HUD005 indicating that thicker coal is present at depth and the early holes only drilled the thinner upper seams and needs to be extended to depth. The prospect is displaying multilayered seams with continuity over 6 kilometres at surface. These holes are considered significant with drilling occurring over a strike of 1.5 kilometres.
Given the Permian Age of the host rocks which correlates to Tavan Tolgoi coal age and the high reflectance values of the coal intersected, this would suggest this coal needs to be tested for coking properties.
Neil Herbert, Deputy Chairman said:
"We are very pleased to be able to bring you these positive results from our South Gobi license area.
"Drilling at the Hud Coal Project continues to advance well with significant coal intersections. We look forward to testing the coal for coking properties and reporting the results of the drill programme in due course."
Contacts:
|
Polo Resources Limited Neil Herbert, Deputy Chairman |
Tel: +27 11 269 4906 |
|
Canaccord Adams Mike Jones |
Tel: +44 (0) 207 050 6500 |
|
Financial Dynamics Ben Brewerton Edward Westropp |
Tel: +44 (0) 20 7831 3113 |
|
Hole ID |
Easting |
Northing |
Azimuth |
Inclination |
Depth |
FROM |
TO |
INTERVAL |
|
HUD001 |
491492 |
4765352 |
0 |
vert |
170.0 |
9.6 |
10.2 |
0.6 |
|
|
|
|
|
|
|
35.7 |
39.6 |
3.9 |
|
|
|
|
|
|
|
39.6 |
42.6 |
3.0 |
|
|
|
|
|
|
|
42.6 |
43.1 |
0.5 |
|
|
|
|
|
|
|
44.2 |
51.6 |
7.4 |
|
|
|
|
|
|
|
67.3 |
69.6 |
2.3 |
|
|
|
|
|
|
|
70.6 |
71.6 |
1.0 |
|
HUD002 |
490449 |
4767871 |
0 |
vert |
200.0 |
13.6 |
14.1 |
0.5 |
|
|
|
|
|
|
|
15.2 |
15.8 |
0.6 |
|
|
|
|
|
|
|
20.9 |
21.6 |
0.7 |
|
|
|
|
|
|
|
21.6 |
22.6 |
1.0 |
|
|
|
|
|
|
|
22.6 |
23.1 |
0.5 |
|
|
|
|
|
|
|
37.9 |
38.3 |
0.4 |
|
|
|
|
|
|
|
38.9 |
40.7 |
1.8 |
|
|
|
|
|
|
|
43.5 |
44.1 |
0.6 |
|
|
|
|
|
|
|
44.1 |
45.1 |
1.0 |
|
|
|
|
|
|
|
48.7 |
50.6 |
1.9 |
|
|
|
|
|
|
|
62.6 |
62.8 |
0.6 |
|
|
|
|
|
|
|
62.8 |
63.6 |
0.8 |
|
|
|
|
|
|
|
63.6 |
66.6 |
3.0 |
|
|
|
|
|
|
|
81.6 |
82.6 |
1.0 |
|
|
|
|
|
|
|
82.6 |
83.5 |
0.9 |
|
HUD003 |
490625 |
4767593 |
0 |
vert |
89.0 |
10.7 |
14.0 |
3.3 |
|
|
|
|
|
|
|
14.6 |
15.7 |
1.1 |
|
|
|
|
|
|
|
18.6 |
18.8 |
0.2 |
|
|
|
|
|
|
|
18.8 |
20.6 |
1.8 |
|
|
|
|
|
|
|
22.6 |
23.6 |
1.0 |
|
|
|
|
|
|
|
46.8 |
47.3 |
0.5 |
|
|
|
|
|
|
|
50.7 |
51.6 |
0.9 |
|
HUD004 |
491409 |
4765202 |
0 |
vert |
65.6 |
10.4 |
15.1 |
4.7 |
|
|
|
|
|
|
|
16.6 |
17.0 |
0.4 |
|
|
|
|
|
|
|
17.0 |
21.5 |
4.5 |
|
|
|
|
|
|
|
36.2 |
36.6 |
0.4 |
|
|
|
|
|
|
|
37.7 |
39.7 |
2.0 |
|
HUD005 |
491776 |
4765417 |
0 |
vert |
198.6 |
95.6 |
96.6 |
1.0 |
|
|
|
|
|
|
|
116.6 |
117.6 |
1.0 |
|
|
|
|
|
|
|
117.6 |
118.6 |
1.0 |
|
|
|
|
|
|
|
127.0 |
127.4 |
0.4 |
|
|
|
|
|
|
|
129.6 |
129.9 |
0.3 |
|
|
|
|
|
|
|
134.0 |
133.8 |
0.2 |
|
|
|
|
|
|
|
135.0 |
135.6 |
0.5 |
|
|
|
|
|
|
|
146.0 |
146.2 |
0.4 |
|
|
|
|
|
|
|
147.0 |
148.0 |
1.3 |
|
|
|
|
|
|
|
153.0 |
155.8 |
2.7 |
|
|
|
|
|
|
|
157.0 |
172.7 |
16.1 |
|
|
|
|
|
|
|
172.7 |
173.2 |
0.5 |
|
|
|
|
|
|
|
175.0 |
175.4 |
0.6 |
|
|
|
|
|
|
|
175.7 |
180.1 |
4.4 |
|
|
|
|
|
|
|
180.1 |
180.6 |
0.5 |
|
|
|
|
|
|
|
180.6 |
183.3 |
2.7 |
|
HUD006 |
490537 |
4765885 |
0 |
vert |
70.6 |
NO COAL INTERSECTED |
||
|
HUD007 |
491998 |
4765457 |
0 |
vert |
90.5 |
45.3 |
45.6 |
0.3 |
|
|
|
|
|
|
|
57.1 |
57.6 |
0.5 |
|
|
|
|
|
|
|
59.6 |
60.6 |
1.0 |
|
|
|
|
|
|
|
62.7 |
64.1 |
1.4 |
|
|
|
|
|
|
|
64.1 |
64.4 |
0.3 |
|
|
|
|
|
|
|
66.6 |
72.6 |
6.0 |
|
|
|
|
|
|
|
76.0 |
83.1 |
7.1 |
|
|
|
|
|
|
|
83.6 |
84.6 |
1.0 |
|
HUD008 |
492131 |
4765519 |
0 |
vert |
114.0 |
52.6 |
54.6 |
2.0 |
|
|
|
|
|
|
|
71.1 |
71.6 |
0.5 |
|
|
|
|
|
|
|
95.7 |
96.3 |
0.6 |
|
|
|
|
|
|
|
99.1 |
99.6 |
0.5 |
|
HUD009 |
492800 |
4765200 |
0 |
vert |
61.6 |
13.0 |
14.4 |
1.4 |
|
|
|
|
|
|
|
15.2 |
15.6 |
0.4 |
|
|
|
|
|
|
|
16.0 |
16.3 |
0.3 |
|
|
|
|
|
|
|
40.5 |
41.0 |
0.5 |
|
Total Meters Drilled |
1029.4 |
|||||||
Note: The intersections quoted above are from geological on-site logging and confirmed by down-hole geophysical logging. Down-hole coal analyses have not yet been completed.
About the Company
Polo is an emerging energy company focused on acquiring and developing advanced stage coal and uranium properties in Asia and Australia. For complete details on Polo Resources Limited, management encourages investors and interested parties to view its public documents filed on AIM Exchange at www.poloresources.com.
CAUTIONARY STATEMENT
The AIM Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
Related Shares:
POL.L