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  • Liberty Resources May Have Premium Coal Find In Bowen Basin 0 comments
    Sep 4, 2013 8:17 PM

    Liberty Resources (ASX: LBY) shares are set to fly with assay results confirming the presence of premium quality coking coal at EPC1949 coal tenement in the Bowen Basin, Queensland.

    The results gain increased importance when taking the tenements location near existing premium coking and PCI coal mines operated by companies such as BHP Billiton (ASX: BHP) and Rio Tinto (ASX: RIO).

    "One of our key objectives was to see if there is coking coal present in the area. The drill results to date are encouraging," managing director Andrew Haythorpe said.

    "We can now focus, for a relatively minor expense, on assessing the full potential of this tenement."

    Further drilling - to explore for newly identified additional coking coal targets in the area - is now being planned.

    The next round of exploration drilling will be aimed at the Rangal and Moranbah coal measures; and a drill rig is being secured.


    The samples submitted for assay were composited to reduce time and costs at the lab.

    Based on the feedback from the lab, the now plans to submit individual samples from further drilling for analysis in order to gain a clearer picture of the coal type and geology.

    Drill holes in additional locations are also planned.


    The first round of drilling at EPC1949, which is also located close to rail and other infrastructure, had intersected multiple coal seams in every hole across a 6 kilometre discovery area.

    Coal has been discovered from as shallow as 10 metres below surface while the Fort Coopers coal has been logged with thicknesses of up to 48 metres.

    The Rangal Coal Measures, which is currently being mined nearby, has been confirmed over an area of about 2,000 metres by 3,000 metres - or a third of the total EPC area while the Leichhardt (L13), Leichhardt (L4) and Vermont (V1) seams appear to be present across a wide area.

    These priority target seams are considered to be commercially viable for open cut mining methods in the area.


    Liberty continues to build its case for a commercial coal development at EPC1949.

    Not only has the company intersected multiple coal seams in all holes in the first round of drilling, the assay results have now confirmed that the coal is premium coking coal, in line with those found in the region.

    Proactive Investors expects that future positive news from further drilling and assays from individual samples will likewise drive further growth in the company's shares.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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