Cougar Energy (ASX: CXY) is preparing to make an announcement regarding a maiden JORC Resource for its Mackenzie coal tenement in Queensland, with the ASX granting the company a trading halt this morning - with its shares placed in pre-open.
The Mackenzie coal asset has a 150 million tonne to 240 million tonne exploration target, with Cougar the 100% holder of exploration permit for coal (EPC 1445), which is strategically located in the Central Bowen Basin of Queensland.
EPC 1445 is located between the open cut operating mines of Jellinbah East (south-west of the tenement) and Yarrabee (north-east of the tenement) - long term producers of PCI grade export coal.
The halt will last until the earlier of an announcement being made by the company, or the opening of trade on Friday 19th July 2013.
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