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The company said the CBP tenement held two coal seams varying in thickness from 4m to 12m, near surface.
Orpheus has an exploration target of 2-4.5 million tonnes and has planned a 12-hole drilling program to begin by month’s end.
It said it would be developing its preliminary mine plan so the project could rapidly move into production.
The proposed mine is expected to produce at a rate of 50,000 tonnes per month when in steady state production.
“The CBP transaction is very important for Orpheus as it is the next step in our strategy of bringing additional Kintap area satellite mines into production,” Orpheus chairman Wayne Mitchell said.
“CBP already has a production licence which means we can quickly start mining and exporting coal.
“In addition to our coal already coming out of ADK, Orpheus will soon be mining 100,000tpm fform the South Kalimantan area.”
In March, Orpheus secured a 50% interest in PT Mega Coal’s operating ADK coal mine in South Kalimantan.
ADK has been in production since April.
