Firestone Energy
Firestone Energy Limited is a Perth based exploration and development company listed on the Australian Stock Exchange Ltd (ASX: FSE) and the Johannesberg Stock Exchange (JSE: FSE).
Firestone's strategy is to maximise shareholder value by sourcing and developing viable mineral projects with a particular focus at this time on coal prospects in the highly prospective Waterberg coalfield in South Africa.
Firestone Energy grows Waterberg coal tonnage to 3.8 billion tonnes
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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Other Firestone Energy articles
Other Firestone Energy news
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17/03/10 Firestone Energy encouraged by Waterberg Coal Project Pre-feasibility Study
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26/02/10 Firestone Energy appoints Tim Tebeila as deputy chairman
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02/02/10 Firestone Energy Limited acquires interest in additional coal assets in South Africa
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25/11/09 Firestone/Sekoko JV sign agreement for two more properties in South Africa
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14/09/09 Firestone Energy to acquire South African coal resources, raises $25m
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03/09/09 Firestone Resources JV receives mining approval for Watersberg coal project in South Africa
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12/06/09 Firestone Energy raises $2m and increases coal resource by 24% in South Africa