Endocoal Limited [ASX: EOC] - COKING COAL PROPERTIES IDENTIFIED AT STOCKYEARD CREEK PROJECT
-Coal seams have been intersected in the first drill hole at the greenfield Stockyard Creek Project, located in the southern Bowen Basin;
-Two coal seams, each approximately 3 metres thick, have been intersected;
-Initial lab testing indicates the presence of coking-style coal properties;
-Further drilling to confirm continuity of coal seams towards a shallower predicted sub-crop area; and
-Endocoal holds 100% of surrounding tenements at Stockyard Creek (EPC2339), Cedars (EPC1516) and Barfield (EPC1620).
2. Stockyard Creek Project
Endocoal is pleased to announce the intersection of two coal seams in the first exploration hole it has drilled at the Stockyard Creek Project in EPC2339. The Stockyard Creek Project (EPC2339) is located in the southern Bowen Basin, Central Queensland. It is a greenfield site with negligible previous exploration on the tenement, or within the immediate surrounding area.
Two coal seams, each approximately 3m thick including minor bands, were intersected on Monday 26 March 2012, at depths from 311m to 318m. This was the first hole of a four-hole scout drilling program that commenced in mid-March 2012.
Preliminary results from Preplab’s coal laboratory indicate that these seams contain coal with coking properties. CSN results in the range of 7-9 have been measured (from initial analysis). This is a key indicator of coking properties. Further testing on this and additional cores will take place to determine ash and coal washability characteristics.
Stockyard Creek adjoins Endocoal’s Cedars (EPC1516) and Barfield (EPC1620) tenements. Stockyard Creek was applied for in 2010 following a review of historical geological reports for the area. One report, prepared by Utah Development Company in 1961, noted significant observations of shallow coal seams in water bores. It was indicated the coal would be contained within a freshwater sedimentary sequence, immediately overlying a volcanic basement delineating the eastern edge of the Bowen Basin.