Mantle Mining Corporation Limited (ASX: MNM) Mantle, is pleased to provide the following update on drill program planning for the Company?s Bacchus Marsh Coal Project in Victoria. The program is being designed to upgrade the Company?s 1 ? 2 Billion tonne Exploration Target # into a maiden JORC Inferred Resource base. Highlights: GHD, a world leading engineering consultancy pre-eminent in coal geological and mine planning service provision in Victoria, has been contracted to provide exploration design, oversight and JORC reporting at Bacchus Marsh: o Stage 1: Program Design (drill hole layout) Completed o Stage 2: Work Plan (for Government approval) In Progress o Stage 3: Program Oversight (support & validation) o Stage 4: Geological Modeling (3D geology & volumes) o Stage 5: Resource Estimation (maiden JORC resource base) Stage 1 is now complete and included a review of the historic drill hole database and development of a 1.6km spaced drill hole layout for compliance with accepted standards for brown coal JORC Inferred Resource level of confidence in Victoria. The program includes: o Drilling 3 holes to confirm quality of the historic 1960?s & 1980?s holes, o Accepting the historic holes if the confirmation holes prove successful, o Drilling 12 new in-fill holes to ensure full exploration area coverage. Mantle is finalizing a detailed plan with the main Victorian brown coal laboratory to cover all requisite coal analyses. All drill holes will be chip drilled through the overlying strata and core sampled through the coal seam. Two of the new holes will have ground water monitoring stations installed in order to enhance the pre-existing Government monitoring well network. Mantle is also finalizing selection of a drilling contractor and associated service providers with drill program execution targeted for August/September.
MNM Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held