This article is 14 years old. Images might not display.
The upgrade came on the back of the results so far from the 53-hole program of second-stage drilling which started in early January.
Four rigs are on site and drilling both open and cored holes, with drilling to finish by the end of March.
Increases to total measured, indicated and inferred categories of the Vickery South resource base are expected to be made by late May.
The drilling is designed to increase the measured resources to underpin a bankable feasibility study for the project which is scheduled for completion in early 2012.
“Importantly, mine planning and mine reserve estimates will be finalised in time for the Vickery South Joint Venture to participate in the 2011 round of capacity applications by Port Waratah Coal Services at end July 2011,” Coalworks said.
Shares in the company closed down 2.5c to 81c yesterday.
