19th Aug 2008 07:00
19 August 2008
POLO RESOURCES LIMITED
("Polo Resources" or "the Company")
Start of drill Programme on the Val Coal Project in South Gobi
Polo Resources (AIM: PRL), the natural resources investment and mining company, announces that drilling has commenced with two diamond drill rigs at the Val Coal Project in Mongolia, which has multi layered seams outcropping over 8 kilometres on the axis of folding in the Upper Permian Sedimentary sequence. Mapping of the coal shows the seams draped over tight anticlinal structures that display thickening of the seams up to 8 metres on the apex of the anticline hinge areas.
The Val Coal Project covers 22,089 hectares and is located 262 kilometres west of one of the world's largest coking coal occurrences at Tavan Tolgoi. The drill programme is planned to include a total of 25 200 metre deep drill holes in 12 sections along the 8 kilometres of outcrop.
Neil Herbert, Deputy Chairman of Polo Resources, said:
"We are very pleased to have begun a second drill programme in South Gobi following the acquisition and initial exploration of these properties. Initial exploration of the Val coal project has been encouraging and we look forward to announcing the results of this drilling programme in due course."
The information contained in this announcement has been reviewed by Paul Ingram, CEO & Director of Polo, P.Geo, AIMM, MICA, BSc Geo. Mr. Ingram has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Qualified Person for the purposes of this announcement.
Contacts:
|
Polo Resources Limited Neil Herbert, Deputy Chairman
|
Tel: +27 11 269 4906 |
|
Canaccord Adams Ryan Gaffney
|
Tel: +44 (0) 20 7050 6500 |
|
Financial Dynamics Ben Brewerton Edward Westropp |
Tel: +44 (0) 20 7831 3113 |
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 at www.poloresources.com.
CAUTIONARY STATEMENT
The AIM Market of the London Stock Exchange plc 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