Cockatoo Coal kicks off drilling at Hume and Bylong coal projects in NSW

Jul. 28, 2011 11:02 PM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Short Only

Contributor Since 2009

Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily. We are one of the fastest growing financial media portals in the world. The group also operates hugely successful “investor forums” where three or four companies present to an audience of high net sophisticated investors, fund managers, hedge funds, private client brokers and analysts. Ian Mclelland founded Proactiveinvestors in 2006 as a way to channel his own views on companies small and mid-cap public companies. What started as a hobby quickly turned into a full time job as the website's readership exploded. One2One forums were added later in 2006, and within two years the company had expanded its operations into Canada and Australia. In 2009 the company expanded into Germany and finally into the US in 2010. Proactiveinvestors is now one of the fastest growing global financial media organizations in the world receiving more than one million visitors per month, with investor forums held across the globe on a regular basis.

Cockatoo Coal (ASX: COK) has commenced exploration drilling comprising open and cored drill holes at the Hume and Bylong projects, aiming to validate historical drilling and confirm coking coal quality characteristics of the Wongawilli Seam.

The extent and quality of the underlying Tongarra Seam is also being investigated at the Hume project located in the southern Sydney Basin, New South Wales.

One multipurpose drill rig is operational on the Hume project. A total of 7 holes for 742 metres have been drilled,   where cumulative down hole coal intercepts of up to 9.0 metres with an average thickness of 5.4 metres have been received.

The Hume project was previously reported as a 115 million tonne (Mt) Indicated export grade metallurgical/thermal coal resource and is managed and 30% owned by Cockatoo Coal and 70% owned by POSCO Australia Pty Limited.

The company is also aiming to prove up the extent and quality of the Ulan and Coggan Seams in the Bylong project, in the northwest Sydney Basin.

The coal seams intersected in the Bylong project area are being considered as both open cut and underground targets.

Two exploration drilling rigs are now operational on the Bylong project. A total of 14 holes for 2,292 metres have been drilled with cumulative down hole coal intercepts of up to 10.2 metres with an average thickness of 6.9 metres received.

The Bylong project was previously reported as a 423Mt (150Mt Indicated and 273Mt Inferred) export grade thermal coal resource and is managed by the company and 100% owned by KEPCO Australia Pty Limited, which has granted a 3 year call option to Cockatoo Coal to purchase a 30% interest in the project.

The company completed the acquisition of the Hume and Bylong projects on December 24, 2010.


Originally published at: http://www.proactiveinvestors.com.au/companies/news/18235/cockatoo-coal-kicks-off-drilling-at-hume-and-bylong-coal-projects-in-nsw-18235.html

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.