Increase of 1.211 Billion tonnes of coal to the Resource Statement for the Belvedere Coal Project to 3.866 Billion tonnes
Aquila Resources Limited (“Aquila” or “the Company”) is pleased to announce a significant increase to the resource statement for the Belvedere Coal Project (“Belvedere”), in which the Company has a 24.5% interest. SRK Consulting was commissioned to provide an independent evaluation of the Coal Resources of the Belvedere Coal Project. The purpose of the evaluation was to provide: • An objective assessment of the Coal Resources in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code), 2004, for public reporting; • A qualification of the potential utilisation of the Coal Resources within the mining leases considering all aspects affecting the recovery of the in-situ Resources. The benchmark for this estimation is the Australian Guidelines for Estimating and Reporting of Inventory Coal, Coal Resources and Coal Reserves, 2003 The total Indicated and Inferred Resources for Belvedere is 3,866 Mt, including 1,526 Mt of Indicated Resources. This represents an increase of 1,211Mt of coal from the initial Resource statement which the Company reported in June 2005.
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