Fox Resources has found more promising deposits of coking coal at their exploration tenement north west of Bundaberg.
The company is conducting a conceptual mining study into the possible development of the Bundaberg Coking Coal Project which is, “expected to provide a focus for the next phase of exploration.”
In a statement the company said, “(We have) intersected five coal seams that are thicker than 50cm. Importantly two of those seams, GL1 and GL2, correlate with the laterally continuous coal seams modelled as part of the Inferred Resource estimate…”
” The main coal seams intersected are interpreted as being the same coal measures intersected on the adjacent tenement, however the seams above and below the main modelled seams are thicker than intersected elsewhere in EPC1523.”
Fox’s Managing Director, Mr Paul Dunbar, said “with infill drilling to increase the geological confidence in the 101Mt Inferred Resource the thicker upper seams in Fox 3 may provide further additional tonnage potentially improving the viability of the project.”
The project remains at the exploration phase and the company has not applied for a mining lease with the government at this stage.