Acacia Coal Ltd has reported an initial Resource Statement in accordance with JORC 2012 Code for the Riversdale anthracite coal mine.
Riversdale’s initial resource demonstrations 9 million t of high-quality, low-sulfur and low-phosphorous anthracite in indicated and inferred resource categories.
The Alfred seam previously excluded from the resource estimates is being drilled and expected to be reported upon 2Q17.
A 10 hole drilling campaign and analysis is being finalised to raise the confidence levels of resource. It is intended to contribute to a reserve and resource update targeted for 2Q17 and as part of the pre-feasibiltiy study.
The company is aiming for a pre-feasibility study and updated resource statement in 2Q17.
Acacia indicated that the Gus Seam can produce a low-impurity, mid-ash anthracite suitable for the ferrochrome industry, which is the principal target market.