A 10-hole drill program to test the quality, depth and thickness of coal seams has commenced at Padang Resources’ Paser project in East Kalimantan. The company hopes to complete the program by the end of 2012 and use the coal quality report and assay results to assist with designing a mine plan.
Drilling is in progress at two locations on the tenement with the drill rigs obtaining fresh core samples of the coal seams down dip from the outcrops. The samples will be submitted for a comprehensive suite of coal analyses by an international laboratory in Samarinda.
ASX-listed Padang has been accelerating its drill program since acquiring a 70% share in the Paser project in August.
The company says previous surface mapping, resistivity surveys and drilling has been interpreted to highlight a number of near-surface coal targets. Coal analysis data from nine samples provided by Paser Pty Ltd indicate an average calorific value of 6841 kcal/kg, with overall ash, moisture and sulphur contents comparing favourably with the figures for typical Indonesian bituminous coal.
Padang has been working to determine the economic viability of the 43 hectare Paser project for several months. It is in the Batu Engau district near Petangis village in Paser regency, about 130km southwest of Balikpapan. There are good quality haul roads and jetty locations within the area and a deep water harbour is 14km away.
Padang is completing technical due diligence at the site to assist with making a decision regarding its future direction.
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