Guildford Coal is the major shareholder of Springsure Mining – the holder of EPC1674 – and has been appointed operator.

Results show a low-ash, high-quality thermal/PCI coal of similar quality to that found at the nearby Minerva deposit.

The project has close proximity to existing infrastructure, including the Minerva spur line and Gladstone port, a fast path to production and potential for coal quality in the export thermal/PCI range, Guildford said.

Guildford holds 100% marketing rights for all coal sold from the project and will receive a fee of 5.25% of the sales price.

Springsure Mining has been included in the recent planning processes by Aurizon in relation to future upgrades of the coal chain rail system.

Total indicated and inferred resources for Guildford’s projects now increase to 2.52Bt.