22 times viewed. Friday, 21 Oct 2011Newland Resources has reached its first major milestone for the Comet Ridge Project area in the Bowen Basin of Queensland with the release of a maiden JORC Resource of 150 million tonnes of coal.
Independent geologists, McElroy Bryan Geological Services prepared the JORC Resource Statement. The Resource has coking coal potential of 50 million tonnes of coal at depths less than 50 metres and subsequent drilling is expected to increase the Resource.
The Resource at the Comet Ridge Project is contained in the Fair Hill Seam and has a cumulative thickness of between 2.5 and 4.0 metres.
Mr Gavin May Newland Resources' managing director said while 150 million tonnes is a significant tonnage, the 50 million tonnes of resource with coking coal potential at depths less than 50 metres is what excites me.
He said that "NRL has a clear focus on delineating economic coal, so future exploration will concentrate on conversion of these resources into mineable reserves.”
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