miningmx
TODAY In Energy ›

Keaton pushes ahead with Sterkfontein extension

I-Net Bridge | Wed, 22 Jul 2009 15:32
[miningmx.com] -- Emerging South African coal company Keaton Energy Holdings on Wednesday said it expects to begin exploration drilling by mid-August 2009 on the recently acquired extension to its Sterkfontein project in the Highveld Coalfield of Mpumalanga province.

This follows receipt of Ministerial Consent for the acquisition in terms of Section 11 of the Mineral and Petroleum Resources Development Act.

"Planning of the 9 million rand, 93-hole drilling programme, scheduled for completion by early 2010, has been informed by data from 25 holes drilled on the extension area by the previous prospecting right holder, which formed part of the acquisition," said Keaton Energy MD Paul Miller.

"This data, which have been included in the Sterkfontein Project's geological model, give us a six-month head-start on exploration of the extension area," he added.

Keaton Energy has already drilled 132 boreholes – a total of 25,000 metres – on the original 4,009 hectare Sterkfontein property, from which it has declared a total coal resource of 34.8 million tonnes, 17.5 million tonnes in the indicated category in the North 1 and 2 Blocks and 17.3 million tonnes in the measured category in the South Block.

Results indicated that 50% is export coal and 33% domestic steam coal.

Keaton Energy acquired the extension by taking a 74% interest in Labohlano Trading 46, holder of the Sterkfontein Extension prospecting right, from Money Box Investments 156, for an undisclosed amount.

Money Box is owned by a broad-based consortium that includes black professionals, the investment arm of the South African Women in Mining Association and local community members.




USER COMMENTS () Click to View
COMMENT
SHARE
E-MAIL
PRINT
Add Your Comment
No bad language or hate speech please.

facebook de.li.cious Digg
Most Read
Commented
Ed's Choice
  1. »South Africa slips to 4 in gold rankings
    by Allan Seccombe | 12 Mar 2010 13:03
  2. »AngloGold gets serious
    by Allan Seccombe | 11 Mar 2010 15:51
  3. »First Uranium shake up marks fund raising
    by Allan Seccombe | 12 Mar 2010 14:51
  4. »African Diamonds spat with De Beers flares
    by I-Net Bridge | 11 Mar 2010 21:16
  5. »Uranium One hunts African assets
    by Allan Seccombe | 11 Mar 2010 06:23
  1. » JSE probes ArcelorMittal conduct
    by Jan de Lange | 09 Mar 2010 11:20
  2. » ETF threat hangs over gold
    by Allan Seccombe | 08 Mar 2010 18:01
  3. » Swanepoel sells out of Delta Mining
    by Brendan Ryan | 02 Mar 2010 13:25
  4. » Mines top brass in coal row
    by Brendan Ryan | 03 Mar 2010 16:33
  5. » De Beers criticises State Diamond Trader
    by Brendan Ryan | 01 Mar 2010 11:57
  1. » ETF threat hangs over gold
    by Allan Seccombe | 08 Mar 2010 18:01
  2. » Sun rising on SA platinum sector
    by Brendan Ryan | 03 Mar 2010 10:01
  3. » South Africa slips to 4 in gold rankings
    by Allan Seccombe | 12 Mar 2010 13:03
  4. » Mines top brass in coal row
    by Brendan Ryan | 03 Mar 2010 16:33
  5. » Big enough is no longer good enough
    by David McKay | 07 Mar 2010 10:04
More news from Energy
  • › Eskom lowers tariff request
  • › Eskom may revise tariff proposal
  • › Sentula hit by profit slump
  • › Keaton green lights R130m coal mine
  • › Eskom wants IPP deals: Hogan
  • › S.African state's nuclear decision urgent
  • › Eskom and the mining industry
  • › Eskom puts Kusile contracts on hold
  • › China ups power tariffs 5.4%, to hit smelters
  • › Extract advances Husab project
    • special reports
    News Alert! Subscribe to our Free News Alert
    multimedia

    Multimedia

    LATEST PODCAST | Mvela Resources and corporate action | 12 Mar 2010 - › More
    The MiningMx team debate possibilities of corporate action at Mvela Resources and get an analyst opi ... Listen ›
    RADIO WRAP | More ›
  • › Chamber's proposal gives an "almost bearable" alternative - Dick Kruger, CoM |
  • › Opportunities for growth in diamonds - Trans Hex CEO Delport |
    • podcastsPodcasts
    Big opinions by big guys.     RSSRSS Feeds
    News delivered really simply.
    jobsJobs
    Current listings.     eventsEvents
    Current listings.
    jseJSE Listed stocks
    Real time resources data.
    special reportsFREE News Alert!
    Subscribe to our News Alert