Abundant coal resources at Bundaberg project

Fox Resources has announced that an Inferred Resources of 101.2 million t of coking coal has been estimated at the Bundaberg project.

The recently released initial coal quality samples confirm hard coking coal within EPC 1523. The three main seams all reported raw ash of less than 10% with raw calorific values exceeding 7000 kcal/kg for large sections of the seams.

Scale of the project

Fox Resources chairman, Terry Streeter, commented: “Outlining over 101 million t of high quality coking coal within the Bundaberg project completely changes the scale of the various possible development options for the project and enables Fox to attract significant investors either directly into the company as possible offtake partners.

“We look forward to continuing the initial discussions with various parties regarding the Bundaberg project”, he added.

Highly encouraging

Fox’s managing director, Paul Dunbar, added “that while significant further work is required to complete various studies into possible development options, obtaining this Inferred Resource Estimate is highly encouraging and bodes well for the future of Fox Resources and the Bundaberg project.”

The 101.2 million t Inferred Resource at Fox’s 100% owned EPC 1523 is in addition to the previously announced resource of 37.9 million t within the International Coal and Queensland Coal Investment joint venture, EPC 2196.

Further results

Further information, including the results of analytical and coal quality tests, are expected in the next few weeks.

Adapted from press release by Katie Woodward

Read the article online at: https://www.worldcoal.com/coal/20032014/fox_announces_abundant_resources_at_bundaberg_project_639/