Coal resource increased to 124.9 Mt of raw coal resource
-69.6 Mt Indicated
-55.3Mt Inferred
PCI coal with potential for a coking coal fraction.
Australian Pacific Coal Limited
(ASX:AQC) is pleased to announce an updated resource estimate for the company’s Cooroorah project.
The company engaged HDR|Salva to update the existing resource model to include the latest 2012/2013 exploration data, coal quality analysis and to estimate and report coal resources in accordance with the guidelines contained within the JORC Code (2012).
The Cooroorah project is 100% owned by Australian Pacific Coal. The tenement covers an area of approximately 1,666 hectares approximately 20 km North of Blackwater in Queensland’s Bowen Basin. The current resource is situated west of the Jellinbah fault at a depth of between 240m and 530m below surface. The project is surrounded by producing coal mines owned and operated by major mining companies. The region has well developed infrastructure with links to major rail and port facilities.
On 1 August 2013 Mineral Development Licence No. 453 was granted overlapping and superseding EPC 1827. The grant of the MDL enables the company to proceed to the development stage for the project. Next steps for the project include securing a suitable joint venture development partner to advance the project through to feasibility study. Potential exists for development in conjunction with neighbouring coal projects.
