Northern Star discovers coal in its backyard
PERTH (miningweekly.com) – Gold miner Northern Star has made a significant coal discovery between its Paulsens and Ashburton gold projects, in Western Australia.
The Kazput discovery has returned significant intersections of thermal coal, and initial drilling and analytical results have suggested that the coal would be of sufficient quality and quantity to fuel a major baseload power station or a coal-to-liquids project.
An initial exploration target of between 340-million and 615-million tonnes has been estimated.
MD Bill Beament on Wednesday said that the discovery of a substantial coal deposit on the company’s Pilbara tenements offered significant potential for shareholders.
“Initial indications are that this is a potentially valuable find with the scope to emerge as a large-scale thermal coal deposit. While being disciplined in our spending, we propose to establish a Joint Ore Resources Committee-compliant resource estimate and undertake the preliminary preparations for a corporate solution to potentially monetize our discovery.”
Some A$2-million has been budgeted to undertake sufficient drilling to potentially establish this maiden resource. A programme of follow-up drilling has already started on a 1 000 m by 500 m pattern to underpin the data requirements for a detailed geological model and potential resource estimate.
This drill programme was targeted for completion in the March quarter of 2014.
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