The exploration will consist of about 12 open and cored boreholes to confirm the coal structure and the product quality of the coal to potentially convert the exploration target tonnage to a resource.
These boreholes will allow for more coal quality analysis to be undertaken particularly in the area on the northern limb close to Guildford’s operating BNU Mine.
Earlier this week, Guildford announced that its acquisition of 100% of the equity interest in Enkhtunkh Orchlon LLC (EO) would deliver the company extra coal reserves near its operations in Mongolia.
Independent geologist Xenith Consulting Pty has developed a geological model for 12600x based on exploration work carried out to date and a JORC upgrade has been completed.
The JORC 2012 classified resource estimate is 15 million tonnes at inferred status. There is an additional cumulative exploration target of 26Mt to 45Mt.
