Ann: Sundace Further Expands Drilling Capacity , page-2

re: Ann: Sundace Further Expands Drilling Cap... International iron ore company Sundance Resources Limited (ASX: SDL – "Sundance") is pleased to advise that it has ordered a third drilling rig as part of the ramp-up of exploration and development activities at its Mbalam Iron Ore Project in West Africa.
The new Schramm T450GT Track Mounted RC Drill Rig will be shipped from the US during December and is scheduled to arrive on site in February 2010. This rig will supplement the two Sandvik DE710 diamond drill rigs purchased over recent months. This first of these rigs has been commissioned and is currently drilling on the Mbarga South Deposit and the second diamond rig was shipped from South Africa last week.
The Sundance Board has made the strategic decision to secure additional drilling capacity now in light of forecast tightening in the market for drilling equipment and supplies and the significant lead time involved in ordering, manufacturing and mobilising new drilling rigs.
This additional RC drilling capacity will allow the Company is continue to ramp up its 2010 exploration program. This program includes resource definition drilling at new High Grade targets and infill drilling at existing deposits, particularly the Mbarga Deposit, to allow the progressive conversion of current Resources towards Reserve category.
The resource definition drilling program is principally aimed at converting the Exploration Target* at the Nabeba Deposit of 100 to 250Mt hematite grading 55 to 65% Fe to JORC-Code compliant resources, to thereby increase the Project inventory of High Grade hematite.
Sundance’s CEO, Don Lewis, commented, “the 2010 drilling program has the potential to add substantial value through the definition of additional High Grade hematite resources. We are focused on achieving our Exploration Target at Nabeba as quickly and efficiently as possible and the acquisition of this third rig will help us achieve this outcome”.