MARKETS

Weather sets back MetroCoal drilling

QUEENSLAND explorer MetroCoal has delayed its 30-hole program in the Surat Basin until early April due to the recent rough weather.

Blair Price
Weather sets back MetroCoal drilling

The junior set a total exploration target of 2.5-3.5 billion tonnes by December last month with the drilling program targeting the Bundi, Norwood, Miles North and Miles east project areas.

 

These areas are considered highly prospective for underground coal mining and also close to planned rail infrastructure.

 

“It is disappointing that we have had to delay the start of the 30-hole program but with so much rain in the area it has been impossible to mobilise the drill rigs,” MetroCoal chief executive Mike O’Brien said.

 

“We are fortunate that our drill contractor, Depco, have supported us with the timing and planning and we look forward to confirming a start date in early April.”

 

MetroCoal announced an initial inferred resource of 58 million tonnes at the Bundi project in late January, based on data from Queensland Mines and Energy, data swaps with other companies and MetroCoal’s own drilling program.

 

O’Brien was general manager of the South Bulli longwall mine in 1991-92.

 

MetroCoal shares are up 1c to 19.5c this morning.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions

editions

Mining Magazine Intelligence Exploration Report 2023 (feat. Opaxe data)

A comprehensive review of current exploration rates, trending exploration technologies, a ranking of top drill intercepts and a catalogue of 2022 Initial Resource Estimates and recent discovery successes.