- Bowen Coking Coal (BCB) has begun an exploration program at its Hillalong Coking Coal Project in Queensland
- The aim of this exploration program is to increase the existing JORC resource of 43 million tonnes
- Bowen’s phase 2a program will consist of three holes drilled in the north to extend the resource and a further eight drilled in the south to explore new resources
- This follows phase one work which included 27 holes drilled to estimate a total maiden resource
- As well as estimating the resource, this work also confirmed that mineralisation remains open to the northeast and southwest
- Bowen is steady on the market and shares are trading at 5.2 cents
Bowen Coking Coal (BCB) has begun an exploration program at its Hillalong Coking Coal Project in Queensland.
Hillalong lies in the northern Bowen Basin, roughly 105 kilometres southwest of Mackay and consists of 15 sub-blocks.
The aim of this exploration program is to increase the existing JORC resource of 43 million tonnes which consists of 21 million tonnes of indicated material and 22 million tonnes of inferred material.
Bowen’s phase 2a program will consist of three holes drilled in the north to extend the resource and a further eight drilled in the south to explore new resources.
“Phase 2a will start with seismic in the south to investigate potential seam continuance, seam dip and structure in the eastern part of the Hillalong South area,” Managing Director Gerhard Redelinghuys said.
“Then drilling will firm up the geological model before we conduct further seismic survey and drilling in the centre and northern part of this very large project area,” he added.
This follows phase one work which included 27 holes drilled to estimate a total maiden resource.
As well as estimating the resource, this work also confirmed that mineralisation remains open to the northeast and southwest.
Additionally, farm-in partner Sumitomo Corporation increased its holding in the project by a further 5 per cent after committing $2.5 million to the project.
The company first earned 10 per cent last year by spending $2.5 million on phase one work and it has the potential to earn up to 20 per cent by spending a further $2.5 million on phase 2b work.
Bowen is steady on the market and shares are trading at 5.2 cents at 2:40 pm AEDT.