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- Bowen Coking Coal (BCB) has announced “extremely positive” washability and coal quality results for its Hillalong Coking Coal Project
- Early results show both of the project’s seams have the potential to produce high-quality coking coal at yields of up to 87 per cent
- The project is located in the Northern Bowen Basin of Queensland, with the maiden exploration program recently wrapping up at the site
- Bowen has a farm-in agreement with Sumitomo Corporation for the Hillalong project, and Sumitomo now has the option of increasing its stake
- Shares in BCB are trading down a slight 3.77 per cent at 5.1 cents each
Coal exploration company Bowen Coking Coal (BCB) has labelled early results from its maiden exploration program at Hillalong Coking Coal Project as “extremely positive.”
The washability and coal quality results confirm the potential for high-quality coking coal at excellent yields at the project, which is located in the Northern Bowen Basin of Queensland.
In particular, Bowen said the washability results demonstrate the Elphinstone seam (one of two seams at the site) has the potential to produce a single primary coking coal with 10.5 per cent ash at an average yield of 84 per cent over the deposit
The other seam, the Hynds Upper seam, has the potential to produce an 8.5 per cent ash primary coking coal product, with a secondary high energy thermal coal at a combined yield of 87 per cent.
The company also said that heat affected coal recovered from the Hynds Seam previously still demonstrated the ability to produce a low ash, high calorific value (CV) energy coal, post washing.
The entire Hillalong Coking Coal Project is subject to a farm-in agreement between Bowen and the Sumitomo Corporation, which has a 10 per cent stake in it.
Following today’s results, Sumitomo has the option of increasing its stake to 20 per cent, by investing $5 million into the next stage of exploration works.
The two companies are also formalising a joint venture agreement for the Hillalong Project.
Shares in BCB are trading slightly down despite today’s positive result, 3.77 per cent in the red at 5.1 cents each.
