for personal use only - australian securities exchange2013/09/09 · options ($0.15 ‐$0.20)...

www.jamesonresources.com.au

Overview

Overview

9 September 2013 Fast Facts ASX: JAL Share Price Range (6mths) $0.21 ‐ $0.36 Shares on issue 171,361,453 Options ($0.15 ‐$0.20) 11,080,556 Market Capitalisation ~$45M Cash Position (August 16, 2013) $5.2M

Major Shareholders (as at September 5, 2013 ) Macquarie Bank 8.7% Pershing Aus Nom P/L 5.6%

Directors & Management David Fawcett (Chairman) Art Palm (Executive Director & CEO) John Holmes (Executive Director) David Prentice (Non Executive Director) Jeff Bennett (Non Executive Director)

Key Projects Crown Mountain Coal Project Elk Valley Coalfields, Canada Dunlevy Coal Project Peace River Coal Fields, Canada

Investment Highlights Positioned in world class metallurgical

coalfields Significant development expertise on

board with successful track record Modern rail and port facilities Strong financial position

Newsflow / Catalysts Crown coal quality analyses Q4 2013 Crown PFS commences Q4 2013 Dunlevy regulatory approvals Q4 2013 Dunlevy exploration commences Q4 2013

Contact Details Australia L2, 79 Hay Street, Subiaco WA, 6008 P +61 (8) 9200 4473 F +61 (8) 9200 4463 E [email protected] .au

Canada S8, 1199 West Hastings, Vancouver P +1 (604) 629‐8605

ASX RELEASE

Crown Mountain Coking Coal Project Drilling Program Completed Successfully

Highlights

The drilling program at Crown Mountain has been completed ahead of schedule and below budget.

Due to better than expected coal occurrences in two of the reverse circulation (“RC”) holes, two additional large diameter coreholes (“LDC”) were drilled.

A total of six RC holes and seven LDC holes were completed.

Initial lab results are favourable in terms of oxidation not being an issue on the targeted seams: coal quality and washability testing is in progress.

The 2013 Crown Mountain drilling program has been a resounding success:

adequate samples have been collected and transported to the lab, where

preliminary results will soon be available.

Drilling progressed more expeditiously than planned, allowing the opportunity

to drill two more LDC holes than originally intended. This allowed Jameson to

investigate coal quality in two areas where RC results showed improved coal

intersections versus the existing geologic model.

Anticipating the commencement of prefeasibility and preparation of an

Environmental Assessment, ground water monitoring stations have been

installed and dozens of rock cores have been collected for metal leaching and

acid rock drainage evaluation.

Initial laboratory results are favorable with respect to oxidation. Detailed

washability and coal quality testing is well underway at Birtley Coal & Minerals

Laboratory (“Birtley”) in Calgary. Interim results will be periodically released as

complete batches become available. In addition to Birtley, testing facilities

slated to perform evaluation on various coking coal properties include SGS,

CanMet, and CoalTech. Selected backup samples will be sent to other

laboratories as a quality control measure.

We are quite pleased with the success of the drilling program, and look forward

to commencing pre‐feasibility and EA preparation work once the complete

suite of lab results have been received and evaluated. Crown Mountain

remains on a fast‐track schedule.

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Overview

The Crown Mountain drilling program was focused on the key North and South Blocks of the project

area (Figure 1). These two blocks, which together contain a total of 66 million tonnes of Measured

and Indicated Resources (of Crown Mountain’s 90 million tonne resource), were determined by the

recent Preliminary Economic Assessment to show robust economics.

Elk Valley drilling specialist Foraco Canada Ltd has completed seven LDC (150mm) holes ranging in

depth from 71 to 151m (average 122m) for a total of approximately 853 metres. Six RC drill holes

for approximately 796 metres have also been completed.

The Elk Valley coalfield historically does not favour conventional core drilling. Typically, core

recoveries are low, resulting in little if any reliable samples. To address these concerns, Jameson

elected to use LDC. The LDC holes are the key to acquiring adequate bulk samples to definitively

establish plant yield and coking coal characteristics. The core recovery on the seven LDC holes has

been excellent: recovery averaged over 95 percent. Core is initially shipped to Birtley for

washability and numerous coal quality tests. Specialized coking coal evaluations will be

subsequently performed at CoalTech, CanMet, and SGS, giving Jameson a full suite of coking coal

quality data.

Environmental base‐line studies, including surface hydrological test, work, are continuing on a

monthly basis. Instrumentation for down‐hole groundwater studies was installed concurrent with

drilling. The Company has engaged SRK Consulting to undertake initial metal leaching and acid rock

drainage studies on samples collected during the drilling program. Installation of a climate station

as well as wildlife and plant studies will be carried out before year‐end.

The Company intends to advance the Crown Mountain project into prefeasibility commencing in Q4

2013, followed closely by preparation of the EA, which is the gateway of the mine permitting

process.

On Behalf of the Board of Directors,

Art Palm Chief Executive Officer F

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Hole ID Type Easting Northing Dip Hole Length

CM11‐11‐CH LDC 662692 5521515 Vertical 126




CM11‐19‐CH LDC 663407 5518158 Vertical 150 CM13‐15‐CH LDC 663217 5521540 Vertical 124


Sub Total 853

CM13‐06 RC 662818 5521114 Vertical 54

CM13‐15 RC 663217 5521540 Vertical 139

CM13‐17 RC 663628 5520999 Vertical 194

CM13‐19 RC 663397 5518858 Vertical 136 CM13‐25 RC 663766 5517913 Vertical 115

CM13‐20 RC 663235 5518437 Vertical 158

Sub Total 796

TOTAL Meters 1649

Table 1 – Drill hole summary table Note : Holes are surveyed in UTM NAD83 CSRS datum with geodetic (sea level) elevation.

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ASX RELEASE

Figure 1 – Crown Mountain Drill Hole Location Plan

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ASX RELEASE

Figure 2 – Drill Hole Collar Plan

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ASX RELEASE

Figure 3 – RC Drilling Crown Mountain South Block

Figure 4 – LDC drilling – Jameson CEO Art Palm and Foraco GM Jacob Entz

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ASX RELEASE

Figure 5 – RC Sampling of coal seam via 350 mesh vibrating screen ensures maximum recovery About Jameson Resources Limited Jameson Resources Limited (ASX:JAL) is a junior resources company focused on the acquisition,

exploration and development of strategic coal projects in western Canada. The Company has a 90%

interest in the Crown Mountain coal project, and a 100% interest in the Peace River coal projects

located in British Columbia. Jameson’s tenement portfolio in British Columbia is positioned in

coalfields responsible for the majority of Canada’s metallurgical coal exports and are all close to

railways connecting to export facilities.

To learn more, please contact the Company at +61 89200 4473, or visit:


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ASX RELEASE

Competent Person Statement

The information in this document that relates to the Mineral Resources is based on information compiled by Mr. Geoff Jordan P.Geo., who is a Member of a Recognised Overseas Professional Organisation (ROPO) included in a list promulgated by the ASX from time to time, being the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Jordan is an Independent Consultant [OR/ an employee of Norwest Corporation] and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Jordan consents to the inclusion in the document of the matters based on his information in the form and context in which it appears.

The information pertaining to the ASX Announcement to which this statement is attached that relates to exploration results is based on information compiled by Mr John Holmes, who is a member of the Australian Institute of Geoscientists. Mr. Holmes is a full time employee of Jameson Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Holmes consents to the inclusion in the ASX Announcement of the matters based on his information in the form and context in which it appears.

The information pertaining to the ASX Announcement to which this statement is attached that relates to exploration and laboratory testing results is based on information compiled by Mr. Art Palm P.Eng., who is a Member of a Recognised Overseas Professional Organisation (ROPO) included in a list promulgated by the ASX from time to time, being the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Palm is a full time employee of Jameson Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Palm consents to the inclusion in the ASX Announcement of the matters based on his information in the form and context in which it appears. Forward Looking Statements

This announcement contains “forward‐looking statements”. Such forward‐looking statements include, without

limitation: estimates of future earnings, the sensitivity of earnings to commodity prices and foreign exchange

rate movements; estimates of future production and sales; estimates of future cash flows, the sensitivity of

cash flows to commodity prices and foreign exchange rate movements; statements regarding future debt

repayments; estimates of future capital expenditures; estimates of resources and statements regarding future

exploration results; and where the Company expresses or implies an expectation or belief as to future events or

results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However,

forward looking statements are subject to risks, uncertainties and other factors, which could cause actual

results to differ materially from future results expressed, projected or implied by such forward‐looking

statements. Such risks include, but are not limited to commodity price volatility, currency fluctuations,

increased production costs and variances in resource or reserve rates from those assumed in the company’s

plans, as well as political and operational risks in the countries and states in which we operate or sell product

to, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other

factors, see the Company’s Annual Reports, as well as the Company’s other filings. The Company does not

undertake any obligation to release publicly any revisions to any “forward looking statement” to reflect events

or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as

may be required under applicable securities laws.

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for personal use only - australian securities exchange2013/09/09 · options ($0.15 ‐$0.20)...

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