August 29, 2013 03:00 ET
Equatorial Mining & Exploration Plc
Nigerian coal - Exploration Results
Equatorial Mining & Exploration Plc (''EME or the Company'') engaged the services of a Nigerian
minerals exploration company, Tanylag Limited, during June and July to conduct a geophysical
survey using the Electrical Resistivity method over a portion of the 280 sq. km. claimed area in
southeastern Nigeria, over which the Company has an exploration interest. Earlier this year, EME
was given authority by the owner of a Nigerian exploration company, to examine three coal
properties and in due course, enter into an acquisition agreement to acquire the Nigerian company
which owns the exploration licences.
Under the leadership of Professor Gbenga Okunlola, EME's consultant geologist, a team of 13
geologists and staff were deployed using three Vertical Electrical Sounding devices (VES) over 49
sq.km. 800 VES readings were taken from which 400 VES were fully occupied/verified.
The results have been graphically logged and geological parameters obtained from the
interpretation of this data have been used as a basis for the deduction of subsurface geology. The
Directors received an extensive report from Tanylag Limited which serves as the basis for this
The results appear to be encouraging with four to seven Lithostratigraphic units identified with
varying depths and thicknesses. (Lithostratigraphic units are bodies of rock which are defined and
characterised on the basis of their lithologic properties and their stratigraphic relations.
Lithostratigraphic units are the basic units of geologic mapping)
The thickness of the coal seam varies from 1.0 to 3.2 metres while the depth to the top of the
coal ranges between 10.3 to 30.7 metres.
Tanylag Limited recommends an interim drilling programme of 15 holes to access data which could
not be sourced using VES and to help confirm the depth, thickness and quality of the coal. All
current and future work is being conducted to JORC standards with the aim of producing a Resource
estimate and a Competent Persons Report (CPR) by the third quarter of 2013.
Alyn Evans, Chief Executive, Commented:
"We are delighted with the results which demonstrate the possibility of huge amounts of coal
across the tenements available to us. I am more than familiar with this region of Nigeria and the
opportunity in our grasp; its location is close to the successful coal mine which I managed until
the early 1990s, before almost all coal production ceased in Nigeria due, in part, to the oil
"We plan to move straight to a drilling exercise as recommended. Much domestic Nigerian demand
exists for coal from the cement industry and for electricity generation via agreements with coal
power companies. We view these as the probable route to exit and initial discussions have already
29 August 2013
Equatorial Mining & Exploration PLC +44 792 152 2920
Nicholas Nelson, Chairman email@example.com
ISDX Adviser - Alfred Henry Corporate Finance Ltd. +44 207 309 2242
The Directors take responsibility for this announcement.
RARE MINERALS PLC
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