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GUILFORD COAL LTD

ASX: GUF

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Description

Guildford has established a portfolio of coal exploration tenement areas in Queensland, Australia. Guildford’s tenements cover an estimated area of in excess of 21,000 square kilometres.

Hughenden Project, Queensland

* The Hughenden Project contains a number of exploration permits for coal which are granted or in application stage.
* There are two coal bearing stratigraphic horizons within the Hughenden Project area which are the primary exploration targets: Permian aged Betts Creek Beds of the Galilee Basin; Jurassic aged Blantyre Beds (Injune Creek Group) of the Eromanga Basin;
* The general exploration philosophy for the Hughenden Project is to firstly test the areas providing a maximum opportunity to intersect coal suitable for open cut or shallow underground extraction, by concentrating on the shallower sections of the Eromanga and Galilee basins.
* The Permian coal seams of the Betts Creek Beds have a known sub-crop line along the north-eastern edge of the Hughenden Project exploration area along strike with EPC 1250 and 1641. Given the coal of the Betts Creek Beds has been proven to be of economic significance at the nearby Pentland Project, these EPC’s are highly prospective and should be given highest priority for exploration activities.
* The second priority for exploration is testing the tenements in the Hughenden area where the Permian Betts Creek Beds occur at depth. As the Betts Creek Beds sub-crop along the north-eastern edge of the Galilee Basin and dip gently to the west and south-west, it is anticipated that the Betts Creek beds would occur at some depth below most of the EPC’s although most of the drilling has been insufficient to intersect the Permian stratigraphy. Those boreholes which have intersected the Betts Creek Beds including GSQ Hughenden 7 have shown that thick coal seams are existent and may be prospective for underground mining and in-situ gasification.

Sierra Project, Queensland

* The Sierra Project contains one exploration permit (EPC1822) which is in the application stage.
* Of potential economic interest in EPCA 1822 are the coal seams of the Burngrove, Fair Hill and Crocker Formations as they are inferred to subcrop within EPCA 1822 and each may have potential for open cut extraction. The Burngrove and Fair Hill seams have previously been overlooked as they are typically banded and require beneficiation to produce a saleable product.
* Aquila Resources has completed a concept study on viability of the Washpool Project, which occurs along strike to the north of EPCA 1822. The Washpool Project primarily targets the Burngrove Formation seams and indicates that although the coal is banded and has high raw ash contents, the coal can be beneficiated with sufficient yields to produce a hard coking coal product. This relies on a theoretical washability yield of 41% to produce a product with 15% ash content.
* It is anticipated that the Fair Hill seams would subcrop through the central area of EPCA 1822 making them the primary exploration target.
* It is well known that there are sections of coal within the Fair Hill seams which have higher qualities. Stanmore Coal’s Mackenzie River Project which occurs adjacent to the northern boundary of EPCA 1822 has identified target horizons within the Fair Hill seam and the lower section of the Lepus seam which overlies the Fair Hill seam. Exploration within EPC 1822 is warranted to identify the thickness, raw quality and washability of the Fair Hill Formation seams.

Comet Project, Queensland

* The Comet Project contains one exploration permit (EPC1976) which is in the application stage.
* Based on information relating to boreholes within EPCA 1976 and from the adjacent tenements, the coal seams of the Rangal Coal Measures, the Burngrove Formation and the Fair Hill Formation occur at depth.
* The coal seams of the Rangal Coal Measures, and in particular the Aries seam, will be the main target for any exploration drilling conducted within EPC 1976, which may be conducive to underground extraction methods.
* The borehole DME Denison 55 shows that the Aries 2 seam is present within EPC1976 and has a thickness of approximately 2 metres, similar to the thickness of the seam at the Yamala Underground Project adjacent to the north. Based on the depths to the Aries 2 seam in the borehole DME Denison 55, the depth of the seam is likely to occur between 300 – 400 metres throughout the lease.
* Similar to Yamala, the Aries 2 seam has potential for underground extraction to produce an export grade thermal coal, although more exploration is required to confirm seam depth, thickness continuity, quality and structure.

Sunrise Project, Queensland

* The Sunrise Project contains two exploration permits (EPC2057 and EPC2058) which are in the application stage.
* The Sunrise Project is located in a region where the Surat Basin is underlain by the Permian Bowen Basin. The area has been targeted by petroleum and coal seam gas companies. The area to the east of the Sunrise Project has proven to be a successful coal seam gas producing field, with Australia’s first producing wells located in the Fairview Field. Closer to the Sunrise Project, coal seam gas exploration has been targeting the Permian Bandanna Formation coals, which occur within EPCA 2057 and 2058.
* The only historical coal exploration in the area was conducted by Agip Australia within A-P 385C in the 1980’s. This area, known as Westgrove is located adjacent to the south-eastern tip of current EPC 2058. The report identified three possible targets for coal exploration in the area:
o Jurassic Walloon Coal Measures which outcrops near the surface;
o Upper Permian Bandanna Formation which occurs between 450 and 550 metres depth;
o Lower Permian Reids Dome Beds (below 1,000 metres depth).

Monto Project, Queensland

* The Monto Project contains one exploration permit (EPC1870) which is in the application stage.
* The exploration philosophy for the Monto Project is to test for a southern extension to the Nagoorin Graben, and to also assess the potential for a highly speculative northern extension of the Mulgildie Basin.
* Both the Nagoorin Graben and the Mulgildie Basin contain sequences of low rank, Jurassic coals. The Nagoorin Graben contains very thick sequences of lignite coal which may have the potential to be bulk mined. The extent of the Nagoorin Graben is not well defined and exploration within EPCA 1870 hopes to encounter coal bearing sequences in the southern portion of the basin.
* In the northern Nagoorin Graben a banded coal seam has been intersected in coal seam gas wells, up to 130 metres in thickness with almost 90 metres of net coal. The coal is described as low rank lignitic coal.
* Limited selective analysis of the seam indicates an ash content ranging from 13% to 50% and a Volatile Matter content of from 16% to 40%.
* The Mulgildie Coal Measures of the Mulgildie Basin contain numerous groups of thin coal seams generally 1-2 metres and have been identified as equivalent to the Walloon Coal Measures.

Kolan Project, Queensland

* The Kolan Project contains two exploration permits (EPC1872 and EPC2003) which are in the application stage.
* The primary exploration target within the Kolan Project is the Burrum Coal Measures, which shall be explored in the hope that the area contains a potential open cut mineable resource of low ash, high energy coal and high quality coking coal.
* Exploration by Consolidated Goldfields Pty Ltd in the 1970’s covered a significant tenement area overlapping the current Kolan Project EPC’s, and identified relatively thin seams of the Burrum Coal Measures within the area sub-cropping and close to the surface. The drilling was shallow and the borehole data is of low quality, however it has confirmed the presence of coal potentially conducive to open cut mining.
* The borehole B001C was drilled between EPCA 1872 and EPCA 2003 and contained 5.5 metres net thickness of coal. The basal seam intersected was 4.38m in thickness.
* Further south in the Kolan Basin, Northern Energy Corporation Ltd announced in January 2010 an Inferred resource of approximately 57 million tonnes of hard coking coal at the planned Colton Mine. It is understood that coal mined from Colton would require beneficiation to produce a hard coking coal, although washability data and theoretical yields have not been observed.

Mine For

coal

Location of operation(s)

Queensland

Australian Basins

Galilee, Surat, Bowen, Maryborough

Address

Se C1 , The Boardwalk, 1 Honeysuckle Dr
NEWCASTLE, NSW, Australia

Phone

(61 2) 4914 5910

Email

Website


Last Updated

2/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.