MetroCoal
MetroCoal (ASX: MTE) is an emerging Australian coal-based energy company focused on projects in the Surat Basin in South East Queensland.
Metrocoal boosts JORC Inferred Resource at Bundi to 595Mt thermal coal
Thursday, May 12, 2011
Metrocoal (ASX: MTE) has boosted the thermal coal JORC Inferred Resource at the Bundi Project in southeast Queensland by 56% to 595 million tonnes, up from 381 million tonnes.
Infill drilling at Bundi has increased the company’s total thermal coal JORC Inferred Resource to 923 million tonnes.
Drilling is confirming continuity and correlation of the Macalister and Kogan Seams in the project area. Metrocoal has also revealed an attractive underground mineable resource of 50 million tonnes in the Kogan Seam.
Bundi, located in Queensland’s prospective Surat Basin, is the down dip extension of Elimatta and Xstrata’s (LON: XTA) Wondoan Mining Project areas where further drilling and geological modelling confirmed the correlation and continuity of the 545 million tonne Macalister Upper Seam.
The seam’s thickness at Kogan is between 2.2 metres and 5.8 metres and sits within a 10.2 square kilometre area.
Infill drilling began at the project in February in order to increase resource confidence and tonnage as well as extend the total underground mineable area.
The 70 hole drilling campaign at the project continues.
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