MetroCoal
MetroCoal (ASX: MTE) is an emerging Australian coal-based energy company focused on projects in the Surat Basin in South East Queensland.
MetroCoal delivers 757mt increase to thermal coal resource at Columboola
Friday, November 18, 2011 by Angela Kean
MetroCoal (ASX: MTE) and joint venture partner SinoCoal Resources have increased the Inferred Resource for the Columboola Project in the Surat Basin to nearly 1.3 billion tonnes of thermal coal, up from 540 million tonnes previously.
This marks a 757 million tonne increase through drilling conducted to date combined with publicly available information from historically drilled holes.
Drilling continues to confirm that a potentially economic and mineable Macalister Seam has been identified within the Columboola Project area.
Three potential working sections, MA1, MA3 and MA4 have been identified within the Macalister Seam package.
Drilling is continuing and is targeting all coal seams to the base of the Taroom Coal Measures. Stage two drilling has begun and is designed to increase resource confidence in the target areas on a 1.8 kilometre offset grid.
Potential working sections have been identified in these lower coal seam packages, however further modelling and quality data is required to include the Taroom Coal Measures in the resource estimation.
Total Resource
Metrocoal’s total thermal coal resource now increases to nearly 2.4 billion tonnes. About 2.2 billion tonnes of it is in the Inferred category and 174.9 million tonnes is in the Indicated category.
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