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Blackwood Corporation sets Chinchilla coal target of up to 240mt, plans further exploration

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Blackwood Corporation (ASX: BWD) has established the Chinchilla Coal Project as a priority project after identifying an exploration target of between 190 million tonnes and 240 million tonnes of thermal coal.

Follow up and confirmation drilling are scheduled to begin at Chinchilla in the June quarter, to build on the existing target and move closer to potentially defining a JORC Resource.

Data from more than 580 historical drill holes was re-evaluated and modelled to establish the exploration target.

The Chinchilla project covers 217 square kilometres in the middle of the coal-rich Surat Basin.

Importantly, Chinchilla contains coal seams from the Walloon Coal Measures, the main coal bearing sequence present in the Basin with demonstrated potential for export quality thermal coal.

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