Reservoir Provides Progress Report of Brodarevo Feasibility Studies
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/14/11 -- Reservoir Capital Corp. (TSX VENTURE: REO)(FRANKFURT: ROC)(BERLIN: ROC) ('Reservoir' or the'Company') is pleased to provide a progress report on its 58.4 MW Brodarevo Hydroelectric Project on the River Lim in southwest Serbia, where the Company is completing Feasibility Studies.
Zigma A.D. Niksic ('Zigma'), of Podgorica (Montenegro) under the supervision of the Company's main contractor Energoprojekt Hidroinzenjering Co. Ltd. ('Energoprojekt') and the Mining and Metallurgy Institute of Boris undertaking geotechnical drilling and sampling at Brodarevo. One drill rig started in early July, with a second added subsequently to accelerate the drilling program, which should be completed by month end. The program aims to test the geotechnical properties of the sediments and bedrock both in the river and the river banks to assist in the final designs for the Brodarevo dam foundations and infrastructure.
Testwork was completed in July on the 1:40 scale hydrological models of the Brodarevo dams constructed at the Brodarski Institut d.o.o. in Zagreb (Croatia); measuring the performance of the design of the dams and related structures under both optimal and severe (flooding) energetic and hydraulic conditions to assess safety, environmental and economic considerations. The testwork, supervised by Energoprojekt and Tractebel Engineering S.A., generated various design improvements, notably for the river diversion and spillways, which will be incorporated into the final design.
Environmental studies in accordance with Serbian standards and legislation are being conducted in parallel with studies according to World Bank guidelines. Both sets of studies are being conducted by Energoprojekt and are on schedule for completion in October 2011.
The design, environmental studies and permitting for the sections of the M-21 road affected by the Brodarevo Project have been contracted to Put Inzenjering ('PUT') of Podgorica (Montenegro). PUT has completed detailed surveys and design work and will be undertaking geotechnical drilling over the coming weeks.
Quality Control
Deputy Director of the Company's operating subsidiary REV d.o.o., Milan Cusic M.Sc. Dipl. Eng., a graduate of the Faculty of Mechanical Engineering of the University of Belgrade (1997) and previously Chief Hydro Engineer for Serbian State Utility EPS (2003-2010), is responsible for the preparation of the technical information in this release.
About Reservoir
Reservoir is a renewable energy company that is engaged in the development of a 58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir holds four geothermal exploration licenses in Serbia and has applied for three hydroelectric licenses on the Cehotina River in Bosnia (17.75 MW) and one to develop a 32 MW project from an existing reservoir dam at Vrutci in Serbia. The Company also holds 8 precious and base metal exploration properties in Serbia that, subject to approvals, are to be spun-out into a separately listed company Reservoir Minerals Ltd. (see September 13, 2011 news release). Reservoir's common shares trade on the TSX Venture Exchange (symbol 'REO') and on the Frankfurt and Berlin Exchanges (symbol 'ROC').
For further information on Reservoir Capital Corp., please consult the Company's website www.reservoircapitalcorp.com.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Reservoir Capital Corp.
Chris MacIntyre
VP Corporate Development
1 416 703 0010
www.reservoircapitalcorp.com