www.carpentariaex.com.au
Carpentaria Exploration (ASX: CAP) is an exploration company focused on discovering base, precious metals and bulk commodities in eastern Australia. The company currently has interests in iron ore, tin, gold, copper and coal exploration projects. Discoveries to date include: Hawsons Iron Project - NSW and the Euriowie Tin Project - NSW.
Carpentaria Exploration drilling extends thick coal seams at Hughenden
Carpentaria Exploration (ASX: CAP) has intersected coal seams with an interpreted 11.9 metres of net coal at the Hughenden project in North Queensland, confirming the thick western extension of the seams contained within the Permian Betts Creek Beds.
The Permian Betts Creek Beds revealed multiple individual seams up to 5.5 metres in thickness and were intersected at 354.3 metres with the development of dull coal, and continued to at least 407 metres. This intersection is 70% thicker than expected.
Carpentaria has resumed trading today on the release of this announcement. The company expects to release an exploration target statement for the Hughenden project within 30 days. No coal quality is available for these intersections but subsequent holes will be cored.
Importantly, Hughenden is located in close proximity to infrastructure with the Mt Isa to Townsville rail line running across the project area.
The company said that drilling during the wet season focused on Hughenden’s EPC1477 licence, owned by FTB (QLD) Pty. Ltd, located on a topographic high to reduce impact of the rains. Carpentaria Exploration has a 20% holding in FTB, with Guildford Coal (ASX: GUF) holding the other 80%.
Carpentaria is contributing to the exploration in FTB which holds 11,500 sq kms across 14 licences in the northern part of the Galilee Basin. The Permian target in this area is at depths potentially amenable to underground mining methods.
The project has two coal bearing stratigraphic horizons which are the primary exploration targets, which are Permian aged Betts Creek Beds of the Galilee Basin, and Jurassic aged Blantyre Beds (Injune Creek Group) of the Eromanga Basin.
Drilling is planned to relocate to shallower targets to the north on EPC1300 and EPC1478 located in lower lying areas not accessible during the wet season and following the completion of the current pattern of holes on EPC1477 designed to generate an underground JORC Inferred Resource.
Another drill rig has been secured to specifically target the potentially thicker extensions in the Eromanga Basin Blantyre coal sequence which is the secondary target on the Project that has shown some preliminary coking potential.
Two additional drills are also being mobilised to EPC1260 located on the White Mountain Project which is on the north eastern edge of the Galilee Basin where the Betts Creek sequence is known to outcrop.
Carpentaria is well funded with cash and deposits on hand currently at A$11.3 million.
