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http://steelguru.com/raw_material_news/MetroCoal_indicated_maiden_coal_resource_at_Bundi_Coal_Project_in_the_Surat_Basin/235521.html

MetroCoal has boosted the confidence category of the resource at the Bundi Coal Project in the Surat Basin, southeast Queensland, to 150.9 million tonnes Indicated.

The company has completed 61 holes of the planned 70 hole drilling program at Bundi, with holes cored from the base of the Springbok Sandstone through the Macalister Coal Measures.

Analysis of the holes in the geological model, along with coal quality analysis results from the boreholes enabled the company to upgrade the resource to Indicated from Inferred. The project has inferred resources of 511.4 million tonnes.

Coal quality analysis and testing of the remainder of the core samples is continuing. Results will be integrated into the geological model, and it is expected this will further increase the Indicated Resource tonnage.

Based on further analysis of the Juandah Resource, also in the Surat Basin, MetroCoal has decided to reassign the scope of the Resource towards underground mining.

The decision to go underground allows areas outside the existing boundary to be included in the resource calculation, increasing the total Resource from 172 million tonnes to 248 million tonnes. This brings MetroCoal’s overall Resource holding to 1606.2 million tonnes.