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MENAFN - ProactiveInvestors - Australia - 09/10/2012

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(MENAFN - ProactiveInvestors - Australia) Celsius Coal (ASX: VRE), formerly View Resources, has received coal quality analyses from the first diamond drill hole at the Tuyuk-Kargasha prospect, part of the Uzgen Basin Coal Project in Central Kyrgyzstan, that confirms coking coal properties.

Similar coking quality coal analyses were returned from one of two selected channel samples from trench and adit in the Tuyuk-Kargasha outcrop area.

Promising washability results showing good density contrast were seen on all samples that were subjected to float sink testing.

A preliminary comparison of Celsius' first diamond drill hole, adit and trench channel analytical data with Soviet era data indicates a positive trend of confirming historical results of deposit-wide high thermal quality, with promising coking coal qualities.

So far, Celsius has only received assays from the first diamond drill hole, with coal samples from another four diamond drill holes en-route to SGS laboratories in Russia.

Diamond core from another three drill are all in the process of being logged and sampled and will be dispatched to the same SGS laboratory.

Once all the current and historic data is interpreted Celsius will announce a maiden JORC resource and overall coking coal properties.


Near surface coal

Earlier this month, Celsius completed four diamond core drill holes at the Tuyuk-Kargasha and Min Teke Prospects, intersecting two major seams of 1.94 metres and 1.06 metres at Tuyuk-Kargasha, with a total of 14 coal intersections of greater than 0.3 metres.

Three of the holes were completed at the Min Teke Prospect, with coal successfully intersected within 25 metres of surface in all of the holes.

Drilling intersected shallow coal seams of 2.93 metres, 0.84 metres, 1.89 metres and 1.17 metres in one hole, 2.93 metres in a second hole and 1.3 metres in a third hole.

Celsius is on track to drill around 5,000 metres at the Uzgen Basin Projects this year.

The Uzgen Basin Projects have an exploration target of 501 to 700 million tonnes of coal, based on historical exploration.


Tuyuk-Kargasha

The 8,000 hectare Tuyuk-Kargasha project is potentially a large tonnage coking coal project and has undergone substantial historical drilling.

View only recently added the Tuyuk-Kargasha, Kokkia and Min-Teke assets to its coal portfolio after agreeing to acquire 80% of the issued shares of Kokkia Coal.

The Uzgen Basin coking coal projects are within 75 kilometres of existing railway (Kok Jangak) and in close proximity to the proposed Trans-Asia Railway, which will allow direct access to China via rail.

There are several options for the sale of coking coal, including China and markets in Kazakhstan, Uzbekistan, Tajikistan.


Name change

Celsius Coal officially changed its name from View Resources on the 5 October 2012.

The company's ASX code is expected to change from VRE to CLA within the next two days.

 






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