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Cockatoo increases Baralaba North resource

9th October 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Coal developer Cockatoo Coal has reported a 41% increase in the measured resource at its Baralaba North project, and a 44% increase to its indicated resource.

The project, in Queensland, was now estimated to contain 92.3-million tonnes of resource, a 26% increase on the previous estimate.

Cockatoo noted that the resource increase followed from a targeted drilling campaign at Baralaba North, which included over 360 new drillholes within the mine tenure.

MD Andrew Lawson said that the resource upgrades were further significant progress towards the company’s ambitions to expand the Baralaba mine complex.

“The recent drilling campaign has delivered excellent results, with a notable increase of known coal resources at Baralaba. Importantly for shareholders, we have completed the resource upgrade at a significantly reduced cost,” he added.

Lawson said that the results provided a solid foundation for Cockatoo to convert the resource estimate into a reserve upgrade during the next quarter.

Cockatoo recently completed the first phase of the Baralaba expansion project, which saw coal production increase to one-million tonnes a year at its Baralaba North operation, and was now pushing to increase production to 3.5-million tonnes a year.

Edited by Creamer Media Reporter

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