Juniors dive into northern Galilee

NEWCASTLE-based Guildford Coal intersected coal in the first hole of its drilling program for the Hughenden coal project in the northern Galilee Basin of Queensland.
Juniors dive into northern Galilee Juniors dive into northern Galilee Juniors dive into northern Galilee Juniors dive into northern Galilee Juniors dive into northern Galilee

Image courtesy of carpentaria exploration

Blair Price

The drilling in permit EPC 1394 also intersected coal, interpreted to be from the Betts Creek Beds, at a depth of 300m, 100m shallower than expected.

The project is 80% owned by Guildford and 20% owned by Australia-listed Carpentaria Exploration.

It covers 6333 square kilometres after the two companies were recently granted additional tenements, bringing the total to eight.

The minor joint venture partner was excited with the start of the drilling campaign.

“The Galilee Basin has been the focus for a number of major coal export deals, and we are excited by the prospects for a thermal coal deposit favourably located near infrastructure,” Carpentaria executive chairman Nick Sheard said.

“Guildford Coal has assembled a strong team with considerable expertise and experience in coal exploration, development and operations. These initial results have boosted confidence in Hughenden’s potential.”

Carpentaria shares were down 3c this morning to 44c.

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