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Tiaro Coal defines 50.7MT in maiden JORC at Galilee Basin ups inferred coal resource to 677MT  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 10/02/2013

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(MENAFN - ProactiveInvestors - Australia) Tiaro Coal (ASX:TCM) has defined maiden indicated resource of 50.7 million tonnes at its Galilee Basin project while increasing the inferred resource to 677 million tonnes.

The JORC Resources was upgraded by independent geological consultants Moultrie Database and Modeling.

The project also called Clyde Park Coal project, is close to the nationally significant Mt Isa to Townsville supply chain.

Tiaro holds an indirect 29.2% interest in Clyde Park Coal, which holds EPC 1260 and EPC 1250 in the Northern Galilee Basin in Queensland.

The principal shareholder in the Galilee Basin project is Guildford Coal, which has a 64.4% interest.

Tiaro's interest is in the process of being sold to Zhejiang Provincial Energy, which is conducting due diligence on the project.

 






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