The company is preparing to make a maiden resource announcement for its Bundi project, which lies west of its Juandah project and down dip from Northern Energy’s Elimatta and Xstrata’s Wandoan project areas.
Information obtained through data swaps with “other companies” will be added to the data supplied by QME.
“Obtaining this new and valuable drill data in the Bundi area has been a real bonus for MetroCoal’s work program which should result in a new and attractive resource estimate,” MetroCoal chief executive officer Mike O’Brien said.
“Importantly, the imminent inferred resource estimate will be achieved without using funds raised in the December IPO.”
The explorer said the new data confirmed the correlation of the Macalister Upper Seam within the Juandah Coal Measures.
This seam is the principal exploration target for Bundi and provides 172 million tonnes of resources for MetroCoal’s Juandah project.
O’Brien, who was general manager of the South Bulli longwall mine in 1991-92, previously told ILN he saw opportunities for bord and pillar mining in the Surat Basin, possibly leading to a future longwall operation.
MetroCoal has 13 tenements and permit applications with the Bundi project within EPCs 1164 and 1167.
MetroCoal shares are up 2.4% to 21c this morning.
