Blackgold posts maiden Wushan resource

CHINESE coal mining group Blackgold International has begun development on part of its Wushan MaoJia Wang thermal coal mine in southwest China after it defined a maiden JORC-compliant resource.
Blackgold posts maiden Wushan resource Blackgold posts maiden Wushan resource Blackgold posts maiden Wushan resource Blackgold posts maiden Wushan resource Blackgold posts maiden Wushan resource

 

Lauren Barrett

Exploration at the area confirmed a measured resource of 43.2 million tonnes, an indicated resource of 38.94Mt and an inferred resource of 32.17Mt.

Blackgold said the coal was medium quality thermal coal with medium calorific value and it would now proceed with the development of the Maojiawang No1 area.

Blackgold chief executive officer Yu Guo Peng said the maiden JORC-compliant resource result at Wushan was a very good outcome and would significantly increase the resource base for the company.

Blackgold acquired the WuShan thermal coal mine for $A12 million in March this year.

The company also completed a resource upgrade for the K1 and K2 seams at its Heiwan underground thermal coal mine in Chongqing province.

The measured resource estimate for the tenement increased by 5.87Mt, while the indicated resource increased by 0.62Mt.

Blackgold said it would now plan exploitation access at the tenement.

Blackgold has completed a number of coal acquisitions this year, including the purchase in August of Changhong Coal Industry, owner of the QiJiang ChangHong coal mine.

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