Endocoal closer to setting resources

ENDOCOAL only listed in May but has already hit up to 5.45 metre coal seams from 19 of its 29-hole program at its Orion Downs-Inderi project near Xstrata’s Rolleston thermal coal mine in Queensland’s Bowen Basin.

Blair Price

Depths from the nine standout intersections of Seam D ranged from 71.75m to 154.49m.

The lowest intersection of this set was a 3.92m intercept, while there were six intersections of more than 5m, with the shallowest strike just under at 4.95m.

The explorer has drilled a total of 5431m at the project and an independent expert is appointed to start work on a resource statement.

Endocoal’s tenement portfolio includes 10 exploration permits for coal covering 5000 square kilometres in the Bowen Basin. To date, exploration licences have been granted on eight tenements.

Endocoal shares are up 1c this morning to 39c.