Aquila happy with drill results

DRILL results for junior explorer Aquila Resources' Isaac Plains coal project in Queensland's Bowen Basin has shown a 3.5km strike of the Rangal Coal Measures.
Aquila happy with drill results Aquila happy with drill results Aquila happy with drill results Aquila happy with drill results Aquila happy with drill results

Aquila Resources chairman Tony Poli

Staff Reporter

Aquila carried out the 25-hole drill programme, following the November release of an interim resource statement.

A total coal resource of 44.3 million tonnes was estimated for the company’s 50/50 joint venture with Bowen Central Coal, a subsidiary of AMCI Holding Australia.

Some 1,760m of drilling was conducted on a 500 x 500 metre grid spacing, covering a 3.5km strike of the Rangal Coal Measures.

“Significantly both the Leichhardt and Vermont seams were intersected over the 3.5km strike of the Rangal Coal Measures,” Aquila said.

“The Leichhardt seam has an average thickness of 2.4m and the Vermont Seam, which lies some 22m below it, has an average thickness of 3.8m…. The Leichhardt Seam sub-crop was intersected at depths as shallow as 11.6m while the shallowest intersection of the Vermont Seam was at 13.25m.”

The company said it had made advances securing key infrastructure requirements during the quarter, including mandating contractors to design and construct the coal handling and preparation plant and the rail loop. A contract for rail haulage has been signed with Queensland Rail.

An application has been lodged for a mineral development licence (MDL) over areas where open-cut mining is planned; environmental investigations were continuing.

Aquila said a co-development agreement had been signed with gas producer CH4 covering overlapping tenements.

The company also has interests in iron ore and gold deposits but said it was seeking expressions of interest in the gold project to allow it to focus on the iron ore and coal projects.

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