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Sterkfontein project

Map showing the relative geographic location of project areas
(PDF - 168KB)

The original Sterkfontein Project prospecting rights were held by Keaton Mining, a 74%-held subsidiary of  Keaton Energy. A 34 million tonne Coal Resource was declared in May 2008. In line with the objective to consolidate the project, the group entered into negotiations with Money Box Trading 156 (Pty) Limited and was able to secure a 74% interest in a 2 844-hectare prospecting right over properties that were intermingled with the existing 4 009 hectares of prospecting rights. The significance of this transaction is that not only is the total project area increased, but because the area is “filled-in”, the southern portion of the prospecting area is consolidated, giving an overall project area of 6 853 hectares.

The Money Box acquisition included the data from a recently completed 25-hole drill programme. These data will be included in the geological model of the programme and the Board has approved a further 93-hole drill programme to increase the resource definition further.

Enlarge: Sterkfontein project extension

Enlarge: Sterkfontein drillhole location