Mongolian Coal Exploration Update


 

TIDMPRL 
 
RNS Number : 3166W 
Polo Resources Limited 
27 July 2009 
 

 
 
27 July 2009 
Polo Resources Limited 
("Polo" or "the Company") 
 
 
Mongolian Coal Exploration Update 
 
 
Drilling Commenced At Val Coal Project 
 
 
Polo Resources (PRL), the AIM listed mining company with uranium and coal 
interests in Africa, Australia, Europe and Asia, is pleased to provide an update 
on the current exploration activities at the Val coal project in 
Mongolia, operated by its recently established joint venture with Peabody Energy 
Corporation (NYSE:BTU) ("Peabody"). The joint venture was formed to hold all of 
Polo's coal and mineral interests in Mongolia. 
Geological mapping, geophysical surveys and approximately 2,000 metres of 
trenching have been completed and drilling has commenced at the Val coal 
project, situated in the South Gobi Desert in Southern Mongolia. Detailed 
mapping and trenching has identified coal seams in outcrop over an area of 20 
square kilometers within the Val exploration license. Coal bearing strata has 
been traced continually for more than four kilometers along strike. 
 
 
A further 2,000 metre diamond drill programme has been designed to test selected 
areas where flat-lying coal seams occur close to surface. The drill programme is 
expected to take six weeks to complete. 
 
 
 
 
Neil Herbert, Managing Director of Polo Resources, said: 
 
 
"We are pleased that the Joint Venture is initiating a second year of drilling 
on the Val project following the encouraging results of the 2008 drilling 
programme" 
 
 
- Ends - 
 
 
Peabody is the world's largest private-sector coal company. Its coal products 
fuel approximately 10 percent of all U.S. electricity generation and 2 percent 
of worldwide electricity. 
 
 
The information contained in this announcement has been reviewed by Paul Ingram, 
Executive Director of Polo, P.Geo, AIMM, MICA, BSc Geo. Mr. Ingram has 
sufficient experience relevant to the style of mineralisation and type of 
deposit under consideration and to the activity which he is undertaking, to 
qualify as a Qualified Person for the purposes of this announcement. 
 
 
Contacts: 
 
 
+------------------------------------------------------+--------------------------+ 
| Polo Resources Limited                               | + 27 82 404 36 37        | 
| Neil Herbert, Managing Director                      |                          | 
|                                                      |                          | 
+------------------------------------------------------+--------------------------+ 
| Canaccord Adams Limited                              | + 44 (0) 20 7050 6500    | 
| Mike Jones / Ryan Gaffney                            |                          | 
|                                                      |                          | 
+------------------------------------------------------+--------------------------+ 
| Financial Dynamics                                   | + 44 (0) 20 7831 3113    | 
| Ben Brewerton / Ed Westropp                          |                          | 
|                                                      |                          | 
+------------------------------------------------------+--------------------------+ 
 
 
About the Company 
Polo is an emerging energy company focused on acquiring and developing advanced 
stage uranium and coal properties. For complete details on Polo Resources 
Limited, management encourages investors and interested parties to view its 
public documents filed on AIM Exchange at www.poloresources.com. 
 
 
CAUTIONARY STATEMENT 
The AIM Market of London Stock Exchange plc does not accept responsibility for 
the adequacy or accuracy of this release. No stock exchange, securities 
commission or other regulatory authority has approved or disapproved the 
information contained herein. All statements, other than statements of 
historical fact, in this news release are forward-looking statements that 
involve various risks and uncertainties, including, without limitation, 
statements regarding potential values, the future plans and objectives of Polo 
Resources Limited. There can be no assurance that such statements will prove to 
be accurate, achievable or recognizable in the near term. Actual results and 
future events could differ materially from those anticipated in such statements. 
These and all subsequent written and oral forward-looking statements are based 
on the estimates and opinions of management on the dates they are made and are 
expressly qualified in their entirety by this notice. Polo Resources Limited 
assumes no obligation to update forward-looking statements should circumstances 
or management's estimates or opinions change. 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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