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The company said 22.4Mt of the resources were in the indicated category and 30.8Mt in the inferred category, a significant increase on the 30.7Mt total JORC resource before the drilling program.
“The TCM project features strongly in our corporate strategy to be a major supplier of key resources into the expanding Asian markets. The substantial increase in the project’s JORC resource is great progress,” Pan Asia chief executive Alan Hopkins said.
“TCM continues to generate consistently good results. We are confident this project has great potential to rerate the company, and we look forward to moving rapidly to the next phase.”
The coal has an average calorific value of 6566 kilocalories per kilogram, 6.41% total moisture, 13.52% ash and 1.52% sulfur.
This compares with the phase 1 drilling coal, which had an average calorific value of 6682 kcal/kg, 4.64% total moisture, 12.09% ash & 1.83% sulfur.
Kopex Mining Contractors calculated the JORC resource.
