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Additional Information

Market:	ASX
Sector:	Coal
EPIC:	JAL
Latest Price:	0.33 (4.76% )
52-week High:	0.33
52-week Low:	0.06
Market Cap:	31.62M

1 year chart

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Jameson Resources

Jameson Resources (ASX:JAL) is focused on the identification and acquisition of strategic coal projects in Western Canada and Australasia.

The company has entered into an option agreement to acquire the Crown Mountain Coal Project in the Elk Valley region of south-east British Columbia. Two significant metallurgical coal operations are located within 20km of the project area.

Jameson Resources Basin Coal quality confirmed as a PCI product for export market

Friday, October 16, 2009

Perth-based company Jameson Resources’ (ASX: JAL) Basin Coal mine project has been rated highly by coal quality evaluation experts Khan and Associates.

The leading coal evaluation consultants confirmed the Basin Coal as suitable quality for a PCI product or as an enhancing component for the PCI market.

Specifications, including low sulphur (0.56 per cent) and phosphorous (0.012 per cent), and HGI 46, indicate Basin Coal is suitable as enhancing product for Western Canadian PCI coals.

At 10.34am, shares in Jameson were 0.5c down, or 1 per cent, to 48.5c.

PCI coals of similar quality typically achieve a US$10-$15 premium on thermal spot prices.

Processing options are currently being assessed to produce both thermal and PCI products

The evaluation of the Basin coal was largely based on analytical and test work data from the trenching program undertaken by the Jameson across the main seam in July.

The Basin Coal mine has an existing NI43-101 resource of 19 million tonnes of raw thermal coal. The resource is confined to a 17m main seam, which is five times the Australian coal seam average, extending over a 1.5km strike length.

The project is located 30km northwest of Princeton in the British Columbia, Canada.

In addition, Jameson has received an exploration permit from the British Columbia Ministry of Energy, Mines and Petroleum Resources to undertake a diamond drilling and trenching program at the Basin Thermal Coal Mine Project.

Drilling results will be incorporated into the final reserve estimate as part of the ongoing 1,000,000 tonnes per annum feasibility study.

Results from this program will be utilised to quantify reserves from the currently defined 123Mt raw coal resource base for the proposed 1,000,000 tonnes per annum staged expansion.

The Basin Coal mine tenements cover most of the Tulameen Syncline, of which the Province of British Columbia government has estimated the global resource to be 240Mt of coal.

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