MARKETS

Caledon lifts resources

CALEDON Resources has boosted the resources at its Cook mine in Queensland’s Bowen Basin by 131% and at the nearby Minyango deposit by 17%, where drilling is expected to kick off this month.

Blair Price
Caledon lifts resources

A 230 million tonne increase takes Cook’s resource to 406Mt while 50Mt was added to Minyango, giving it a total of 342Mt.

Neither upgrade was the result of recent drilling.

For Cook, Caledon said a review of geological data previously held, plus the recent receipt of additional historical data, led to the upgrade.

Cook now has a resource of 86.1Mt measured, 90Mt indicated and 230Mt inferred.

Caledon said a total of 303Mt was at a depth of less than 300m, with this amount comprising 99% of the measured resource, 86% of the indicated and 61% of the inferred.

“The balance of the resource estimate occurs at depths less than 500m,” the company said.

At Minyango, Caledon said the boost resulted from including the areas of EPC997 and MDL375 into the resource estimate.

The previous estimate was based solely on EPC699 and excluded EPC997.

The London-based company said a total of 308Mt at Minyango was above 300m in depth, including 99% of the measured and indicated resources, and 83% of the inferred.

Drilling will start this month, targeting the southern portion of Minyango.

Caledon, which also has a London listing, lost 5c on the Australian Securities Exchange, closing at 65c yesterday.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions