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Chief executive Tim Prowse said Norton was targeting mid-sized coking and PCI coal resources with a minimum size of 10 million tonnes.
He said the area was last prospected about five years ago when lower coal prices dictated resource targets of a significantly greater magnitude to warrant exploration. However, now with the increase in the coal price he said the area had potentially become economic.
The exploration area is underlain by the German Creek Coal Measures, and close to BMA’s Norwich Park coal mine and Anglo Coal’s German Creek mine.
“Our new chairman Tony McLellan brings his experience and knowledge in the exploration and development of coal resources and the board considers the project to be an excellent brownfield exploration opportunity for Norton,” Prowse said.
McLellan is currently a non-executive director of Felix Resources and chairman of BeMaX Resources.
Exploration will be funded by the company’s operational Norton Gold Mine in Queensland’s Gladstone area.
