Uzgen JORC resource for Celsius

CELSIUS Coal has announced a maiden total inferred JORC code resource of 255 million tonnes of coking coal at its Uzgen Basin project in the Kyrgyz Republic.

Staff Reporter

Of that inferred resource, 230 million tonnes are at the Kargasha tenement and 25 million tonnes are at the Kokkia tenement.

The coal resource is based on seven holes drilled by the company in 2012 and 60 past drill holes.

“At 255Mt, this very large maiden coal resource with high yield and good coking characteristics, positions Celsius to become a significant coking coal producer.” managing director Grant Thomas stated.

“We also have great exploration potential, and the funding in place to execute an aggressive work program which will happen during this Kyrgyz summer, he added.

Executive chairman Alexander Molyneux said having Soviet-era data reduced exploration risk and accelerated the whole project.

“Now we really have something to work with the potential customers on, which is an immediate next step,” he said.

The inferred resources at Kargasha and Kokkia are contained in 11 seams and 10 seams across the tenement respectively. For resource estimation purposes a seam thickness cut off of 0.5m was applied.

The company announced last month that further coal quality analyses from its drilling program at the Uzgen Basin project showed the coal was washable.

The company holds an 80% interest in three tenements in the Uzgen Basin and said at the time of the release that it planned to deliver an initial JORC-compliant resource estimate for Uzgen during the first quarter of this year.

The company holds an exploration target of 500-700Mt of coal for the project.

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