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Celsius Coal granted extension for exploration licenses

World Coal,

Celsius Coal Ltd has announced that the exploration licenses for its Kargasha and Kokkia tenements, which together with the Min Teke tenement comprise the Uzgen Basin metallurgical coal project in the Kyrgyz Republic, have been extended for two years.

At a meeting of the licensing committee of the Kyrgyz Republic’s state agency for geology, the licenses had their expiration dates extended to the 31st December 2015.

Executive chairman of Celsius Coal, Alexander Molyneux, said: “The extension of these licenses gives the company secure tenure to continue exploration and development works. I expect we will finalise our plans for initial mining in the coming months and then seek to convert some part of the license area into a license that permits mining.”

Celsius Coal, and Australian-based exploration company, has a 90% interest in the Sary Mogul coal license in the Alai Range region in the south of the Kyrgyz Republic and also an 80% interest in the Uzgen Basin.

In December, Molyneux said that 2013 had been a successful year for the company, with positive results from an exploration field session with some record drill intersections. He said that while results at the Uzgen Basin tenements were promising, the next task for the company was to assess the analytical data, translate it into an updated JORC resource statement and look at what it means in mineable tonnes, and thereby discern whether the best approach for mining at the project would be opencast, underground or by auger.

Adapted from press release by Sam Dodson

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