Stanmore Coal Limited has advised that exploration activities and work undertaken as part of a Bankable Feasibility Study (BFS) have resulted in increases in the Mineral Resources and Coal Reserves attributable to the Isaac Downs Project.
Isaac Downs is located in Queensland’s Bowen Basin, approximately 145 kilometres south-west of Mackay and 10 kilometres south-east of Moranbah.
The company is proposing to develop an open-cut steel making (metallurgical) coal project.
Exploration activities undertaken by Stanmore in the last 18 months resulted in an increase to the Mineral Resource for the Isaac Downs Project to 36 Million tonnes (Mt).
Importantly, all Resources are now declared as Measured and Indicated as defined under the JORC Code (24.7 Mt Measured and 11.5 Mt Indicated).
Moreover, the work undertaken for the BFS resulted in an increase in Recoverable Coal Reserve to 25.9 Mt, of which 22.3 Mt is classified as Proved Reserves and 3.6 Mt is classified as Probable Reserves.
Marketable Coal Reserves at Isaac Downs now total 17.9 Mt (17.3 Mt is coking coal and 0.6 Mt is thermal coal).
Stanmore advises that the BFS undertaken by Palaris Australia is presently in draft form and the results will be published once completed.
Approval for the project is well advanced with the Environmental Impact Statement (EIS) having now completed the public notification stage of the State and Commonwealth approval process.
Additionally, earlier this month, the Queensland Government gazetted the Isaac Downs Project as a ‘prescribed project’ under State development and Public Works Organisation Act 1971 to further support the approvals process as required.
Stanmore coal’s full announcement can be viewed online here.
