Coalworks adds 30Mt to Ferndale exploration target

COALWORKS has reviewed its initial drilling results at the Ferndale project in the Hunter Valley of New South Wales, resulting in a broader exploration target for open cut mining.
Coalworks adds 30Mt to Ferndale exploration target Coalworks adds 30Mt to Ferndale exploration target Coalworks adds 30Mt to Ferndale exploration target Coalworks adds 30Mt to Ferndale exploration target Coalworks adds 30Mt to Ferndale exploration target

Coalworks' Hunter Valley thermal and coking coal project in New South Wales.

Blair Price

The key revision was to the Newcastle coal measures within the project, where the target was raised from 10-50 million tonnes to 50-80Mt.

This pushed the previous 250-300Mt Ferndale exploration target to 250-330Mt.

Coalworks said drilling at the thermal coal project was currently suspended while “a change of drilling contractors is completed”

Drilling is expected to restart late this month with the second hole targeting a depth of 500m to identify additional Whittingham Coal Measures.

The first hole is at a depth of 54m while the second is at 348m.

Coalworks shares are down 1c to 40.5c this morning.

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