Bathurst upgrades Buller project

BATHURST Resources has increased the coal resources of its Buller project in New Zealand sixfold to 42.2 million tonnes.
Bathurst upgrades Buller project Bathurst upgrades Buller project Bathurst upgrades Buller project Bathurst upgrades Buller project Bathurst upgrades Buller project

Bathurst's Buller project map

Blair Price

The Escarpment prospect holds all of the 3.8Mt of measured resources in the project area.

Total indicated resources for the project are 21.5Mt while inferred resources add up to 16.9Mt.

The current 16-hole drilling campaign on the Deep Creek prospect is expected to be wound up this week.

In late June, Bathurst received a mining permit for the Escarpment prospect within the project area.

Bathurst aims to complete the definitive feasibility study in the September quarter but expects to make the preliminary results available “shortly”

“As a result of this latest drilling program Bathurst can confirm that it has resources in excess of 40 million tonnes of high-quality coking and thermal coals, which should underpin the first 20 years of production from the Buller project,” Bathurst managing director Hamish Bohannan said.

“Bathurst’s objective is to commence production at an annualised rate of one million tonnes per annum from the fourth quarter of 2011, increasing to two million tonnes per annum once further deposits are brought into operation.”

The project area spans 10,000 hectares in permits that “largely surround” Solid Energy’s 2Mtpa coking coal Stockton mine.

Bathurst shares closed down 1c to 19.5c yesterday.

topics

loader