A data sourcing, interpretation and modelling exercise completed at the Emerald project by SRK Consulting was “very encouraging”
“Importantly, the desktop study has significantly clarified our understanding of the geology,” Stanmore said.
“The key findings are an updated exploration target of 220-290 million tonnes of high-quality, low to moderate-ash, export-quality thermal coal in the Aries seam within the Rangal coal measures at depths estimated from 150 metres.”
Available drilling data indicates that the target Aries seam is likely to range between 1.8m and 2.4m in thickness within the exploration area, with the average modelled seam thickness in the cutâ€off area of EPC 1168 being 2.1m.
The available data indicates that the Aries seam thins regionally on the north and south sides of Emerald.
“The solid geology of the region has been reinterpreted by SRK and the Rangal coal measures are now understood to subcrop through the Emerald project area,” Stanmore said.
“In addition, the German Creek formation is estimated to occur at depths from 280m within the Emerald EPC. The Corvus lower seam is the most likely target with the German Creek formation as it occurs regionally at 1-2.9m and is reported to display some coking properties.
“Further field work is planned to test the prospectivity of this seam.”
A drilling program is planned in the near term for the Emerald EPC to establish an initial inferred resource in the Aries seam within three to four months and to identify a potential target in the lower seams of the German Creek formation.
Stanmore’s share price was steady at 75c in early morning trade.
