Balamara Resource has defined a maiden coal resource in Poland, just eight months after the company acquired the concession for the project in July 2013.
The company has estimated a maiden JORC Resource of 23.06 million t of coal at its Nowa Rude metallurgical coal project in Poland.
Balamara estimated an exploration target ranging between 112.5 million t – 160.7 million t for the two principal metallurgical coal deposits at Nowa Ruda.
Drilling is currently being carried out by three diamond drill rigs aimed at converting further tonnages currently within the exploration target to JORC resources.
The maiden targets are derived only from existing historical data and information collected over the last 25 years and made available to Balamara.
It is expected that a series of resource update announcements will follow over the next three to six months, as current exploration work fills in the gaps in geological knowledge and seeks to verify historical data.
Nowa Ruda is a large historical underground coal mine consisting of two adjacent deposits, Waclaw and Lech, which produced substantial amounts of metallurgical coal over the course of the 20th century.
Balamara acquired the project through the award of a concession in July 2013. This gives the company the right to explore the two existing deposits and take the project into production following the completion of a successful feasibility study and the granting of a license to mine.
Adapted from press release by Sam Dodson
Read the article online at: https://www.worldcoal.com/coal/28042014/coal_resource_defined_in_poland_762/