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- Bowen Coking Coal (BCB) has released the results from its maiden exploration program at the Hillalong Coking Coal Project, located in Queensland
- The results have outlined a maiden estimate of 43 million tonnes of coking coal at the site, of which 19.5 million tonnes is located less than 150 metres from the surface
- The company tested coking coal from some of the site’s shallower seams, which returned fluidity as high as 1500 dial divisions per minute and a crucible swelling number up to 8.5
- Testing of the site’s coking coal remains ongoing and the company plans to release further findings to the public soon
- Bowen Coking Coal shares are trading 2.13 per cent lower today, selling for 4.6 cents per share
Bowen Coking Coal (BCB) has released the results from its maiden exploration program at the Hillalong Coking Coal Project, located in Queensland.
The results have outlined a total estimate of 43 million tonnes of resource at the site. Of the initial estimate, 19.5 million tonnes are located less than 150 metres from the surface.
The initial estimate is comprised of 21 million tonnes of indicated material and 22 million tonnes of inferred material.
The latest drilling program at the site, which helped outline the maiden resource estimate, confirmed the resource remains open to the northeast and the southwest.
The program also tested the quality of the coking coal found at the site and returned promising results. In particular, coking coal retrieved from the site’s shallower seams retuned fluidity as high as 1500 dial divisions per minute and a crucible swelling number up to 8.5.
Testing of the site’s coal remains ongoing and the company plans to release further findings to the public soon.
Gerhard Redelinghuys, the company’s Managing Director, commented on the initial estimates for the site.
“We are extremely excited about the outcome of the company’s maiden exploration program for Hillalong North, both in terms of the resource estimate and the coal quality observed,” he said
Gerhard went on to say that, as the resource remains open in two directions, the company hopes further exploration will extend the scope of site’s mineralisation.
Bowen is currently funding exploration at the site through a farm-in agreement with Japanese conglomerate, Sumitomo. After completing the first tranche of the agreement, Sumitomo gained a ten per cent interest in the site in exchange for $2.5 million, which was used to fund phase one exploration.
Bowen Coking Coal shares are trading 2.13 per cent lower today, selling for 4.6 cents per share at 12:34 pm AEST.
