Tigers Realm ups Amaam resource

TIGERS Realm Coal has reached a milestone in the development of its Amaam coking coal project in Russia, increasing the project’s inferred resource by 37% to 406 million tonnes of coking coal.
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Amaam coking coal project. Image courtesy of Tigers Realm Coal.

Lauren Barrett

Of the total resource, 308Mt has been identified in the open pit area, less than 400m from the surface.

However, below 400m, the inferred resource totals 98Mt, which Tigers Realm said signalled potential upside for future underground operations.

The Amaam project is located in far eastern Russia and has the potential to produce 10Mt per annum of run of mine coal.

Based on the drilling results, Tigers Realm has derived an additional exploration target at the tenement ranging from 180-280Mt.

Tigers Realm managing director and chief executive officer Martin Grant welcomed the positive drilling results.

“The successful addition of another 112 million tonnes of inferred resource is yet another positive milestone in the development of the high quality, large scale Amaam coking coal project.

“The next phase of the 2011/12 program is targeted at increasing the confidence levels of the resources in Areas 3 and 4EC.”

The second phase of the diamond drilling program which kicked off in February and finished in April will be the subject to a further resource upgrade in Q3 of this year.

Since 2006, a total of 29,611m of diamond drilling has been completed at the Ammam project.

Tigers Realm has undertaken a total of 22,133m equating to 75% of the drilling since farming into the project in 2010.

Tigers Realm recently began a prefeasibility study for Amaam which is on track for completion in December 2012.

The PFS will seek to examine the most viable options for areas including integrated mining, coal washing, logistics and port allocation.

Tigers Realm has the opportunity to acquire an 80% stake in Amaam following the completion of a bankable feasibility study.

Following the recent success at the Amaam project, a research report on Tigers Realm completed by EL & C Baillieu Stockbroking gave the company a buy rating.

Tigers Realm also has the opportunity to acquire a 60% or 70% stake in the Landazuri coal project, located in Colombia.

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