Celsius Coal (ASX:CLA) will trade higher after revealing positive results from its 2013 field exploration program at the Uzgen Basin coking coal project in Russia.
Celsius drilled 11 holes 4,050 metres, which is the largest drilling program undertaken by Celsius to date.
Coal intersections were observed at both Kargasha and Kokkia, with cumulative thicknesses of up to 16.28 metres and individual seams of up to 2.58 metres.
Importantly - near-surface results at Kokkia highlight additional open-pit / auger potential.
At Kargasha, results show that coal seams continue in the east of the license area, where no previous drilling has been conducted.
Analysis of data and coal samples has commenced which will include reviewing seam correlation and construction of a 3D model prior to updating resource statements.
Environmental and geotechnical data was also collected to advance mine plan studies.
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