The high carbon, high energy and low volatile PCI coal resource is 47.1Mt in the indicated category and 400Mt inferred. There is nothing in the measured category.

The Rockwood exploration area is on the eastern margin of the Bowen Basin adjacent to the Fitzroy Development Road and about 45km northeast of Dysart.

Endocoal has run a drilling campaign there since March, which followed up the discovery of a significant Rockwood resource last year.

During the first half of 2012, drilling confirmed the continuity of the Rockwood seams along Carfax Road in an east-west direction.

Continuity has also been confirmed in a north-south direction reaching all the way to the southeastern part of the tenement.

In all, 22 holes – including three coreholes – were included in the drilling program.

Endocoal chief executive officer Tim Hedley said with the continuity of geological structures and coal seams established, the company would turn to infill drilling to determine areas most prospective for future mine development.

“It is also likely these outcomes will be noted by various parties that have indicated interest in Endocoal as either the company, or project or asset level,” Hedley said.

“Endocal, via its adviser Macquarie Capital, is in active dialogue with a number of parties who have access to a confidential data room and are progressing in review and evaluation processes now underway.”