JORC Coal Resource Estimate 11 July 2013

Ascot ResourcesUncategorised

KEY HIGHLIGHTS

  • Maiden Coal Resource estimate in accordance with JORC of 8.1Mt at Titiribi Project classified as 5.2Mt Measured, 0.7Mt Indicated and 2.2Mt Inferred.
  • Coal Resource estimate expected to expand upon further drilling of Lara concession.
  • Coal quality results indicate that Titiribi is host to a medium to high volatile semi-soft coking coal with relatively low ash, low phosphorous and average sulphur values with Free Swelling indices (FSI) up to 8.5 and gross calorific values averaging around 7,000 kCal/kg.
  • Measured and Indicated Coal Resource estimates provide a sound basis for the Company to finalise its Project Economic Study during July 2013 and provide significant confidence towards fast tracking the development of Titiribi into production by late-2014.
  • Preliminary surface geophysical (resistivity) work on surrounding area suggests substantial scope for growing the resource base beyond current levels.

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JORC Coal Resource Estimate 11 July 2013