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Market:	ASX JSE
Sector:	Coal
EPIC:	FSE
Latest Price:	0.01 (0.00%)
52-week High:	0.03
52-week Low:	0.01
Market Cap:	20.71M

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Firestone Energy

Firestone Energy (ASX: FSE) is an independent, Australian exploration and development company listed on the Australian Stock Exchange (ASX) and the Johannesburg Stock Exchange (JSE). Firestone Energy and Sekoko Coal are in joint venture agreements whereby Firestone Energy can acquire participation interests in the Waterberg coal project located in Lephalale area, Limpopo Province, South Africa.

Firestone Energy grows Waterberg coal tonnage to 3.8 billion tonnes

Friday, November 27, 2009

Perth-based coal explorer Firstone Energy (ASX: FSE) has increased the coal tonnage at the Waterberg Coal Region Joint Venture with Sekoko Coal Resources to 3.8 billion tonnes of embedded coal, under JORC code.

The venture encompasses five farms in the Waterberg Coal Region of South Africa, for 1.33 billion tonnes of de-shaled coal.

This is based on 178 drill holes of which 122 were drilled by partner Sekoko Resources.

Approximately 46% of this coal resource is in the measured and indicated category.

Managing Director, John Wallington said "Firestone has 8 farms covering some 80 square kms of area in one of the most undeveloped and exciting coal regions in the world. Along with the possible exploration targets, there is the potential to grow our coal resource base over time, with further drilling."

The company said it is expected with further infill exploration drilling that these targets will develop into a JORC compliant resource over time.

Of interest, 99% of the drill holes to date have intersected coal sequences under all the farms.

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