'Potentially superior' coal from Kingaroy mine
MORETON Resources has released its further analysis on the coal quality of their South Burnett coal project, revealing a potentially superior coal product.
The announcement made in April indicated the washed coal qualities ranged in value, however now Moreton Resources have been able to target far superior potential product coal through further analysis and correlation of FGX data.
The lab results from the Kingaroy Coal Mine site confirm low sulphur and low impurities, with high calorific values of potential product coal.
The additional analysis is currently assisting in developing the overall coal quality data, for the advancement of the company's feasibility study with significant benefits identified in low sulphur and impurities.
The final product specifications have been identified for feasibility advancement and sales and marketing analysis.
The company had collected the data during their February program earlier this year, which refers to the potential advancement of the South Burnett Coal Project.
"We are extremely confident that our current feasibility works will in turn declare a sizable reserve pertaining to the economic advancement of the project," the board said.
The overall project is advancing at a rapid rate, with the recent addition of results from three holes drilled in February from the South Burnett Coal Project drilling program, ranging from various depths from 73m to 233m.
"This analysis has made for significant advancement in the interpretations and assumptions around potential coal quality and product," they said.
The early indications of the potential product show 17 per cent ash, through to 28 per cent ash product for international markets, with the majority of it being sub 19 per cent as product coal.
Moreton Resources will work hard with consultants and partners on the project, to get an updated declared reserve to market in the near future, followed by the release of the overall project feasibility.
About 660 holes were identified across MRV Tarong Basin Coal tenements, or within close proximity, and the majority of the holes have been sampled upon a composite sample basis.
The sample basis is a top to bottom of the coal concept, which includes all coal partings.
Consequently the overall ash content is over represented, whilst the calorific values are under stated, compared to a selective mining operation which targets low ash coal sections.