Executive Chairman’s comments In commenting on the Newera phase two drilling program, Newera executive Chairman Mr Martin Blakeman made the following observations: “Both the phase one and phase two drilling programs at Newera’s Shanagan coal project in Mongolia have been very successful for Newera. The phase one program, without the benefits of geophysics for targeting, produced some excellent net coal intercept results. The phase two program was instigated following recommendations from Professor Arvisbaatar from the University of Mongolia who had been asked to review and remodel the very good data collected from the Geophysical resistivity survey (Dipole Dipole) undertaken by Geomaster LLC. Following his review, Professor Arvisbaatar identified thirteen (13) new coal targets along the across-strata geophysical survey lines. In its phase two drilling program, Newera drilled three of Professor Arvisbaatar’s targets, drill holes SHDH25, 26 and 27 which each produced very significant net coal intercepts. Effectively to this point, Professor Arvisbaatar has a 100% success rate on his first three targets. This fact is very significant to Newera for two reasons: The first is that it suggests that Professor Arvisbaatar’s selection of the remaining ten (10) drill hole collar locations (coal targets) have a very good probability of success, and whilst it might be unreasonable to expect a 100% success rate on all 13 of the new coal targets, we at Newera are quietly confident in professor Arvisbaatar’s predictions. The second is that two of Professor Arvisbaatar’s coal targets are on the extended geophysical survey lines c. 500 and 1000 metres to the west of previously identified coal bearing strata (with coal outcrops), in what has been designated the “potential new coal zones” in Figure1. This opens up the possibility that if Newera were to have success in drilling these two new target zones, it may open up significant new coal bearing strata which would underlie all previously identified coal bearing strata. If this is the case, the scope for increasing the scale of the Shanagan coal project could be very significant indeed. We remain quietly confident that the Shanagan Project will continue to produce results and develop into a significant new coal project.”
From the latest ann 8th Feb 2013
"New coal zone drilling: Newera is currently planning a third drilling program to comprise of approximately 15 holes at the Shanagan Project. This drilling program will target the potential two new coal seams identified from the Dipole Dipole survey modelling conducted by Professor Arvisbaatar. If successful, follow up drilling will be considered to further define the East/West strike of these seams. Infill drilling is planned to gather further data to assist Newera calculate an Exploration Target and a potential JORC Resource."
The point i'm trying to make is that if the phase one program, without the benefits of geophysics for targeting, produced some excellent net coal intercept results. Then we are in for a very very good chance of finding more black stuff in the new 15 drill hole program.
This story is going to get bigger & bigger stay tuned and don't get fooled by the manipulators of this stock.
NRU Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
