Churchill Mining Plc (CHL)
CHURCHILL MINING PLC (CHL) – Raises Coal Reserve target by 50% at East Kutai Coal Project
Churchill Mining is pleased to announce that as part of the ongoing review of the drilling and exploration program at its East Kutai Coal Project, the company has lifted its overall project initial coal reserve target by 50% from 100 Mt to 150 Mt.
Highlights
• Coal reserve target at East Kutai project increased by 50% to 150 Mt
• 1st potential mine-pit area drilling expected to be completed in 3 months
• Annual drilling programme ahead in terms of metres drilled versus results gained
• Review of total initial coal resource target underway
• Scoping study on schedule for completion end of June 2008
A review of the total initial coal resource target is also being conducted and Churchill will advise the market of the result in due course.
Paul G. Mazak, Churchill’s Managing Director, commented:
“Churchill is still ahead of schedule and ahead of budget in its exploration programme. The Company is very focused on getting to a mining reserve as quickly as possible so that we can move to mine construction and production”.
For more information please go to www.churchillmining.com