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Bowen Basin Projects

Wonbindi

The Company's interest in the Wonbindi project is held by an 80% owned subsidiary.

The Wonbindi project comprises EPC 1047 and MDL 352. The project area is located in the south-east arm of the Bowen Basin approximately centred around the town of Baralaba, 30 kilometres north of the Moura railway and 180 kilometres from the coal port of Gladstone – key infrastructure links.  The combined surface area of the tenements is approximately 20,370 hectares.

Coal seams of interest in the Wonbindi prospect are contained within the Late Permian Rangal Coal Measures, locally referred to as the Baralaba Coal Measures, which are known to extend along the 44 kilometres of the Wonbindi tenements.  There are about eight seams in the local sequence which have been investigated during previous exploration.  Rangal Coal Measures are of primary interest as they are known to host other regional companies' coal mining operations such as Baralaba, Blackwater, Curragh, Jellinbah and Yarrabee.

A review of all data within EPC 1047 has been undertaken and three targets within EPC 1047 were established with the aim to prove up additional resources.  The three target areas are: the southern area within MDL352 (where the majority of drilling to date has taken place); Lochinvar in the north of EPC 1047; and Baralaba North, just north of the Peabody managed Baralaba Coal Mine.  These targets are within about a 30 km range along the strike length running north from Baralaba.

Wonbindi Exploration and Drilling

Approximately 200 holes were historically drilled in MDL 352 and the Company drilled a further 98 drill holes during the June 2007 quarter, generally to a depth of 120 metres.

Data interpretation and Minex modelling of the 2007 drilling have enabled a preliminary estimate of an in situ resource constrained by depth of drilling, geological structures and the MDL 352 boundary.  The estimate has been made on a ply by ply basis, in all eight Baralaba Coal Measure seams encountered at Wonbindi within the ‘anticline area’.

The estimated in situ total tonnage within the ‘anticline area’ is approximately 26 million tonnes ('Mt').

The development of a further drilling program within MDL 352 including core drilling for coal quality purposes is ongoing with input from McElroy Bryan Geological Services. 

 

 

MDL 352 Wonbindi Resource Polygon

 

MDL 352 Wonbindi Preliminary Cross Section

North Baralaba Exploration and Drilling

During the March 2008 quarter, drilling continued some 500 metres north of MDL 184 (Peabody’s existing Baralaba coal mine).  An additional 6 drill holes (BN0035-0041) were completed, generally to a depth of 120 metres.  This completes the traverse line that commenced in 2007. Interpretation of the geological data, coupled with the down-hole geophysics, enables seam correlation and provides significant encouragement for further drilling.

Using an average density of 1.35, the significant intersections result in an average overburden to coal ratio of 9.5:1. 

EPC 1047 Baralaba North Preliminary Cross Section

 Lochinvar Exploration and Drilling

Due to the severe delays experienced as a result of inclement weather, no drilling was undertaken in Lochinvar in the quarter.

Dingo

The Dingo project comprises three tenements: EPC 862 (Dingo North), EPC 863 (Middle Creek) and EPC 1063 (Tryphinia) with a combined surface area of approximately 35,420 hectares.  The first two tenements contain Rangal Coal Measures at sub-crop along a strike length of 36 kilometres.  These are the same coal measures that form the focus of interest in the adjacent Wonbindi project areas.

A detailed review of all historical drilling and exploration activities, including analysis of existing coal quality results in EPC 862, EPC 863 and EPC1063, was commissioned during the quarter. Exploration planning based on these results will commence in the June quarter.