(MENAFN- ProactiveInvestors - Australia) Tiaro Coal (ASX: TCM) has upgraded the JORC Resource at the T9 West area in southeast Queensland by 118% to 87 million tonnes of coal.
Independent geological consultants RungePincockMinarco reported there the seams are likely to continue along strike to the north and south though additional drilling would be required to extend these limits.
The company plans to shoot seismic and carry out infill drilling in the Priority One Target area to the north and south of T9 West for 2013-2014.
This could be followed by more seismic and infill drilling in the Priority Two Target area to the east and northeast in 2015.
The exploration programs will be designed to provide appropriate drill hole spacing to enable correlation of coal seams in the Priority Targets with the aim of estimating further JORC Resources.
Diamond coring will be conducted, as well as in-fill drilling where necessary. Drill hole and seismic line locations are yet to be finalised.
These have a total Exploration Target of between 200 million and 300 million tonnes with coal quality expected to be similar to that at T9 West, which has metallurgical and energy coal potential for all seam groups.
Tiaro had $1.2 million in cash as of 31 March 2013.Â
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