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MetroCoal boosts Bundi thermal coal resource by 230% to 1561.8Mt


MetroCoal (ASX: MTE) has increased the Inferred thermal coal resource by 900 million tonnes at its 100%-ownwd Bundi Project in the Surat Basin of Queensland, boosting the total resource 1561.8 million tonnes.

The resource consists of 1410.9 million tonnes Inferred and 150.9 million tonnes Indicated. EPC1164 and EPC 1251, including the Juandah and Bundi Resources, now totals 1.81 billion tonnes.

This resource upgrade is based on the results from MetroCoal’s 2011 exploration program including integration of the coal quality analysis from this program, MetroCoal’s 2010 exploration program and drilling data.

The resource area can potentially extend the Bundi Project to link up with the Juandah Project Area. This extended resource base will provide a solid platform for the company's 2012 drilling program.

Resource definition drilling efforts next year will focus primarily on expanding the Indicated Resource area and extending the conceptual level mining study area that has already been defined.

The proposed Bundi mining area is focussed on the down dip extensions of the Kogan and Macalister coal seams immediately south of Xstrata’s (LON: XTA) proposed Wandoan Open Cut Mine development and New Hope Coal’s proposed Elimatta Mine.

The seams will be mined underground utilising a modern high productivity longwall producing about 5 Million tonnes per year of medium ash, low sulphur thermal coal suitable for steam raising in thermal power plants.

Underground development is expected to commence in 2015 with longwall production following in 2017.

Quick facts: Metro Mining Ltd

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Market: ASX
Market Cap: $123.61 m

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