Significant JORC Resource Increase for Isaac Plains Complex
Brisbane, April 6, 2016 AEST (ABN Newswire) - Stanmore Coal Limited (
ASX:SMR) is pleased to announce a significant increase to JORC Resources at the Isaac Plains Complex consisting of the existing Isaac Plains Coal Mine (Isaac Plains) and the Isaac Plains East Project (Isaac Plains East). As a result, total JORC Resources have increased by more than 2.5 times since the two assets were acquired in late 2015.
Highlights:
- Total JORC Resource more than doubled from 30.1Mt to 76.9Mt with a significant portion (74%) as Measured and Indicated Resource
- Total Resource includes maiden JORC Resource for the Isaac Plains East mine extension of 28.7 Mt
- Raw coal quality shows a material improvement in Isaac Plains East extension
Following completion of the transactions to acquire Isaac Plains from Vale SA and Sumitomo Corp and Isaac Plains East from Peabody Energy, the Company undertook a confirmatory exploration campaign to delineate the potential mining extension areas for both open cut and underground assessment. A total of 21 rotary holes, 20 cored holes and 32.7 km of seismic analysis were completed in the period from October 2015 through March 2016.
Included within the total Resource is a substantial Measured and Indicated Resource of 56.9Mt. This underpins the mining study and JORC Reserve update separately provided by the Company today.
Refer to the link below for Appendix A and B for Table 1 assumptions and information prepared by Xenith Consulting Pty Ltd for Isaac Plains and Isaac Plains East respectively.
Isaac Plains
The confirmatory exploration program at Isaac Plains focused on the Leichhardt coal seam in the eastern area of the Mining Lease which had not previously been drilled extensively. The Leichhardt seam is part of the Rangal Coal Measures with an average thickness of 3.6 metres within the Isaac Plains Resource area. The information from this program provides further understanding of the geology which will inform the ongoing assessment of potential underground mining opportunities.
A breakdown of JORC Resource by potential mining zone is noted in Table 2 (see link below).
Isaac Plains East
The confirmatory program at Isaac Plains East focused on the shallower areas in the west of the deposit, identified via historic exploration carried out by BHP in the 1980s. The Leichhardt coal seam at Isaac Plains East is the same as that mined at Isaac Plains. An upthrust fault brings the easterly dipping coal measures back to sub crop within 15m of the surface in the western section of Isaac Plains East. Seam thickness averages 2.7m across the Isaac Plains East Resource area. Activities conducted include rotary and core drilling, 2D seismic traverses and limits of oxidation definition drilling to underpin a proposed open-cut mining operation.
The confirmatory drilling program has provided the Company with analysis on indicative raw coal quality parameters for Isaac Plains East. A summary of the outputs is contained below at Table 3 (see link below).
Overall the in-situ coal exhibits lower ash and volatile percentage values than the same coal seam within Isaac Plains, indicating a higher potential processing yield and enhanced coking properties.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/4FLE8YW9
About Stanmore Coal Limited
Stanmore Coal (ASX:SMR) is an operating coal mining company with a number of additional prospective coal projects and mining assets within Queensland's Bowen and Surat Basins. Stanmore Coal owns 100% of the Isaac Plains Coal Mine and the adjoining Isaac Plains East Project and is focused on the creation of shareholder value via the efficient operation of Isaac Plains and identification of further local development opportunities. Stanmore continues to progress its prospective high quality thermal coal assets in the Northern Surat Basin which will prove to be valuable as the demand for high quality, low impurity thermal coal grows at a global level. Stanmore’s focus is on the prime coal bearing regions of the east coast of Australia.
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