The resource for the Vele semi-soft coking coal project, in Limpopo province, had been upgraded to 441.47-million tons on site, up from an estimate resource of 352-million tons inferred, JSE-, ASX- and Aim-listed coal development company Coal of Africa Limited (CoAL) announced on Wednesday.
The company based the update on a recently completed 65-borehole drilling programme that had not been incorporated into an updated three-dimensional geological model.
CoAL said not all of the borehole sample results had been received from the South African Bureau of Standards laboratory, but that there was sufficient information available to issue the resource estimation update.
"At this stage the resource estimation covers about 80% of the potential project area. Further resource upgrades are expected as drilling continues on the edges of the known resource and further lab analyses are received," commented CoAL MD Simon Farrell.
The Vele project was formerly known as the Thuli project.
Source: Mining Weekly
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