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Mantle Mining Corporation Limited (ASX: MNM)

“Mantle”, is pleased to provide the following results from laboratory analyses of coal intersected in the first 4 holes of a 15 hole drilling program at Bacchus Marsh:
Highlights:

At Bacchus Marsh, Mantle is undertaking a 15 hole drilling program designed to report an Inferred Resource in accordance with the principles and guidelines of the JORC Code.

As previously reported, total cumulative coal thicknesses intersected in the first 4 holes was a >25% increase on that predicted from modeling of historic holes (146m Vs 116m). A drill rig has been contracted to mobilize in early December to complete the drill program.

The lower moisture content and higher net wet calorific values indicate that the Bacchus Marsh coal is possibly of a higher rank than the coals of the Latrobe Valley.
Mantle executed preliminary agreements to develop the deposit with Exergen Pty Ltd (have developed a breakthrough brown coal dewatering technology). Previous trials on Bacchus Marsh coal confirmed 56.7% coal moisture could be reduced to 9.5% briquette moisture.

Although the Ash and Sulphur levels from this latest drilling are higher than expected at this stage of the exploration process, potential exists for Ash reduction through traditional coal washing and for reduction of overall Sulphur content through blending in the market place.

All analyses results will be refined and reported at the end of the current drill program as part of modeling in accordance with the principles and guidelines of the JORC Code.