Located in EPC 890, about 40 kilometres south of Blackwater, the previous resource estimate for the Rocklands project was set by Queensland Geological Services in 2008.
The recent revision was calculated by Geos Mining, which also added an exploration target of 200-300Mt.
Rocklands detailed the reasons behind the resource downgrade.
“The Geos Mining resource estimate only includes coal in seams that are greater than one metre thick. No minimum coal seam thickness was used in the resource estimate prepared by Queensland Geological Services,” Rocklands said.
“There was a reduction in the number of specified sub-blocks in EPC 890 from 51 to 40, in accordance with the relinquishment schedule in Annexure D of the Exploration Permit.
“This was after the date of the resource estimate prepared by Queensland Geological Services.”
The explorer views most of the bituminous coal resources as having metallurgical coal potential.
Rocklands owns 60% of the project and has two other coal projects in the Bowen Basin.
But the company differs from other explorers as it owns a 480,000 tonnes per annum coking plant in eastern China, using the cash flow on its project portfolio.
