The tenement is 100% owned by Aquila and located approximately 200km west from the town of Rockhampton.

Aquila defined a 20.13Mt measured and indicated resource of Rangal coal measures.

During drilling, a handful of Rangal coal measures across several holes were intercepted, namely the Aries, Castor, Pollux, Orion and Pisces seams.

Aquila said the effective coal sequences presented exceeded a strike length of more than 3km with ranges in width of up to 1.5km.

Aquila drilled a total of 48 holes at Walton, with further drilling aimed at determining whether the seams are at underground mineable depths.

Preliminary coal quality testing has indicated that several seams represent good quality pulverised coal injection-grade coal.

Washability tests indicate a product coal is expected to be of export PCI type with an indicative air-dry quality of 1.2% inherent moisture, 8% ash, 11.6% total moisture and 7400 kilocalories per kilogram.

The Walton project is located adjacent to the Blackwater rail system, which carries coal to the Port of Gladstone.

The project is situated about 280km away from the port.

Aquila is a participant in the expansion at the Wiggins Island coal export terminal, with its Walton PCI project one of its nominated source mines.