International Coal (ASX: ICX) has been granted a trading halt by the ASX pending an announcement regarding the results of the recently finalised drill program at South Blackall, with the company's shares placed in pre-open.
Providing some background on South Blackall, the company has continued to deliver results over the past few months of the presence of coal seams.
South Blackall comprises an area of 769 square kilometres and consists of 250 sub-blocks, and is located 80 kilometres north-east of Quilpie in south-west Queensland.
Coal seams have been intersected at EPC2197 at relatively shallow depth of between 30 and 50 metres in a number of holes with cumulative seam thicknesses to depth exceeding 10-15 metres in a number of holes.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 4 April.