The company also estimated an exploration target ranging from 112.5Mt to 160.7Mt for two coking coal deposits in Nowa Ruda.
Drilling is underway, with the hope of turning further coal tonnage in the exploration target into JORC resources.
The maiden JORC resource is derived from existing historical data and information collected over the previous 25 years.
Many more announcements are expected in coming months as further investigations fill the gaps of geological knowledge and verify previous data.
Nowa Ruda is a large underground coal mine with two adjacent deposits Wacław and Lech, which were both significant producers during the last century.
Balamara acquired the project in July 2013, giving it the right to explore the existing deposits as well as begin production following a successful feasibility study and the acquisitions of the correct licences.
