International Coal’s inferred resource of Bundaberg coking boosted
ICX holds a 75% stake in the project alonside its JV partner Queensland Coal Investments which is owned by Australia’s richest person Gina Rinehart.
High quality coal seams cross boundaries
ICX says the higher inferred figure for the coking coal resource at its EPC 2196 tenement was reached through a data sharing arrangement with Fox Resources Ltd (ASX:FXR) which is developing coking coal deposits on a neighbouring block called EPC 1523.
Drawing upon recent drilling data from FXR and historic data from ICX, laboratory analysis has determined that three seams – GU, GL1 and GL2 – can be correlated across the tenement boundaries and continue to exhibit hard coking coal characteristics.
This wider set of data has allowed ICX to revise the inferred resource of hard coking coal at its EPC 2196 tenement upward to 41Mt.
High numbers for high quality coking coal
The data and drilling analysis has again confirmed the coking coal being targeted by ICX at the Bundaberg tenement has a Crucible Swelling Number of 9, evidence of extremely high quality coking coal.
This encouraging drill result was first released by ICX in 2013 and this recent added confirmation is encouraging for the company’s prospects.
International Coal’s Chief Executive Officer, Glenn Simpson, says “The data sharing arrangement with Fox has already helped with our understanding of the size of this Inferred Resource. The next step is to firm up our understanding of the working sections and further exploration and development work required to form the building blocks for future mine planning and feasibility studies.”
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