You are here: News & Resources > Market News > Caledon reveals 256% increase in Minyango resource

Caledon reveals 256% increase in Minyango resource

Australian coal producer and explorer Caledon Resources has announced a 256% - 874 million tonnes - increase to the coal resource estimate for the Minyango coking and thermal coal project.

This brings the total Minyango coal resource estimate to 1,216 million tonnes.

The Minyango project is located approximately 15km north of the Company's Cook Mine.

The updated resource estimate is based on the results of an exploration programme conducted between June 2009 and September 2010.

The resource evaluation included:

* The drilling of six partly cored boreholes (61mm diameter samples) of the Aries, Castor and Pollux seams

* Re-processing of 2D seismic line data from 1982 and 1990.

* Re-interpreted fault patterns based on seismic data and new borehole data

* Updated seam correlation based on additional drilling data from ten gas boreholes

Story provided by StockMarketWire.com

13/12/2010