Moorlands Infill Drilling Program
Sydney, Aug 1, 2013 AEST (ABN Newswire) - Cuesta Coal Limited (
ASX:CQC) ("Cuesta") is pleased to provide an update of its 2013 exploration activities at the Company's flagship 100% owned Moorlands Deposit located in the Western Bowen Basin, Queensland.
The intention of the exploration program is to define the resource in the northern area of the deposit, which was part of the Orion Coal Project acquisition. The exploration activities will also enable the exploration target between the south pit and the north pit (Figure 1 in link below) to be converted to a resource.
The drill spacing has been set to target a JORC Indicated / Measured Resource with sufficient coal quality data to obtain a more complete understanding of the coal resource across the whole of the Moorlands Project.
The exploration program will obtain sufficient data on the Moorlands Project resource to enable feasibility studies to be conducted during 2014.
The program will also include drilling for environmental monitoring. Environmental Licencing Professionals Pty Ltd has been engaged to prepare the Environmental Management Plan for the Moorlands Project in the lead up to conducting feasibility study work during 2014.
The Moorlands Project, located 14km from the now closed Blair Athol Coal Mine (Figure 2 in link below), has a current JORC Resource of 146.1Mt, including a JORC Resource of 53.5Mt in the Measured and Indicated category.
Moorlands Thermal Coal Resources
---------------------------------------------Project Measured Indicated Inferred TotalMoorlands 14.6Mt 36.4Mt 95.1Mt 146.1Mt---------------------------------------------
Matt Crawford, Managing Director of Cuesta Coal commented "it is pleasing to have recommenced the field exploration program on the back of finalising the $12m placement last week to our major shareholder. Cuesta looks forward to updating its shareholders regularly during the drilling activities over the next 3 - 4 months."
To view charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CQC-747685.pdf
Contact
Cuesta Coal Limited
T: +61-2-9284-5900
F: +61-2-9284-5999
E: info@cuestacoal.com.au
WWW: www.cuestacoal.com.au
| ||
|
