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Bowen Coking Coal Mammoth Cooroorah Project resource increase

Coal News - Published on Mon, 30 Apr 2018

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Small Caps reported that Bowen Coking Coal has rewarded the faith of investors with a significant expansion of its resource estimate for its fully owned Cooroorah Project in Queensland’s Bowen Basin. Drilling on its Mammoth seam within the project has added a maiden resource estimate of 37 million tonnes. That boosts the total Cooroorah resource estimate by 23 % to 154 million tonnes, with further infill drilling set to increase confidence in the resource and move more of it from inferred to indicated.

Since listing on the ASX, Bowen Coking Coal has set itself aggressive targets to add value by boosting JORC resources and today’s announcement is a clear sign that its strategy is producing results.

JORC compliance refers to the mining industry’s code for reporting exploration results, mineral resources and ore reserves, managed by the Australasian Joint Ore Reserves Committee.

Good quality coal with further tests coming soon
Early indications are that the thick Mammoth seam hold superior quality coal compared to the lower seams, with further detailed coal quality and washability tests underway and expected to be released to the market in coming weeks.

Bowen Coking Coal chief executive Gerhard Redelinghuys said the he was “extremely satisfied’’ with the result of the exploration program so far.

Risky exploration pays off
Mr Redelinghuys said that “Drilling in an underexplored area is always high risk, but it definitely paid off for BCB’s shareholders with the delineation of 37 million tonne of high quality Metallurgical coal in the Mammoth seam.”

Mr Redelinghuys said that “We are now planning the next exploration program to increase our confidence in the resource to a level which would support a Pre-feasibility study on Cooroorah.”

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Posted By : Nanda Koijam on Mon, 30 Apr 2018
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