Strategic Natural Resources (AIM: SNRP) which owns the Elitheni Coal Project in South Africa, announced a more than doubling in the measured resource.
Following additional drilling at Phase 1 and Phase 2 of the coal project, Strategic said that under SAMREC rules, the measured resource had increased from 10.1 million tonnes to 24 million tonnes, and increase of 137%. An additional 1.8 million tonnes of measured resources has also been identified in the Phase 3 coal area, where drilling began earlier this year. Strategic Natural Resources was recently awarded a mining permit over 1.5 hectares of the Phase 1 and 2 zones.
"We have achieved yet another milestone. A measured resource increase of approximately 19 million tonnes in less than nine months is outstanding and given the successful progress of our Mining Rights application, I am pleased that we have even more to offer our shareholders" said Jeremy Metcalfe, CEO.