 |
Perth, Dec 19, 2011 (ABN Newswire) - Pan Asia Corporation Limited (
ASX:PZC) is pleased to announce that it has entered into an arrangement for Kopex to commit a further US $1m to fund the remainder of the expanded drill program at TCM through until the completion of the final feasibility study. Completion of the final feasibility study is expected end of March 2012.
In April 2011, Kopex entered into an Agreement with Pan Asia to co-fund the accelerated infill drilling programme and the final feasibility study at the TCM Project. Kopex's total commitment to date towards the drilling programme at the TCM Project now stands at US$1.6m.
Pan Asia CEO Alan Hopkins said, "Kopex's strong commitment to the TCM project supports its rapidly rising potential with the final feasibility study continuing to make good progress" .
JORC RESOURCES AT TCM PROJECT
In October 2011, the Company upgraded its initial JORC Resource at the TCM Project to 114.6 million tonnes in the following categories: (see link:http://media.abnnewswire.net/media/en/docs/ASX-PZC-571843.pdf)
The coal quality model will be further updated when all the coal quality results are in for the current drill programme. Washability tests and subsequent analysis of the results have been undertaken on a 500kg bulk sample to develop a conceptual Coal Handling and Preparation Plant design. Further testwork and analysis of all the quality data will lead to a specification of a saleable product, targeting TS of ~1.0 with good yield.
PARAMETERS USED IN JORC RESOURCES
1. A total of 35 boreholes drilled for the current resource estimation;
2. All finished boreholes were geophysically logged, samples taken and sent to laboratories;
3. Profiles, logs of boreholes and seam correlations have been completed;
4. Collar coordinates have been completed;
5. Laboratory testing: quality, Geotech, gas methane- not yet completed but underway;
6. Quality model still to be updated once all quality results received;
7. Full version of resource statements to be elaborated after all drilling and laboratory testing completed.
ASX:PZC) is pleased to announce that it has entered into an arrangement for Kopex to commit a further US $1m to fund the remainder of the expanded drill program at TCM through until the completion of the final feasibility study. Completion of the final feasibility study is expected end of March 2012.In April 2011, Kopex entered into an Agreement with Pan Asia to co-fund the accelerated infill drilling programme and the final feasibility study at the TCM Project. Kopex's total commitment to date towards the drilling programme at the TCM Project now stands at US$1.6m.
Pan Asia CEO Alan Hopkins said, "Kopex's strong commitment to the TCM project supports its rapidly rising potential with the final feasibility study continuing to make good progress" .
JORC RESOURCES AT TCM PROJECT
In October 2011, the Company upgraded its initial JORC Resource at the TCM Project to 114.6 million tonnes in the following categories: (see link:http://media.abnnewswire.net/media/en/docs/ASX-PZC-571843.pdf)
The coal quality model will be further updated when all the coal quality results are in for the current drill programme. Washability tests and subsequent analysis of the results have been undertaken on a 500kg bulk sample to develop a conceptual Coal Handling and Preparation Plant design. Further testwork and analysis of all the quality data will lead to a specification of a saleable product, targeting TS of ~1.0 with good yield.
PARAMETERS USED IN JORC RESOURCES
1. A total of 35 boreholes drilled for the current resource estimation;
2. All finished boreholes were geophysically logged, samples taken and sent to laboratories;
3. Profiles, logs of boreholes and seam correlations have been completed;
4. Collar coordinates have been completed;
5. Laboratory testing: quality, Geotech, gas methane- not yet completed but underway;
6. Quality model still to be updated once all quality results received;
7. Full version of resource statements to be elaborated after all drilling and laboratory testing completed.
| Tweet |
About Pan Asia Corporation Limited
Pan Asia Corporation Limited (ASX:PZC) is a rapidly growing resource company listed on the Australian Securities Exchange (ASX Code: PZC) with offices in Jakarta, Perth and Sydney.
The Company aims to be a major supplier of key resources into the expanding Asian markets and has a Flagship high CV thermal coal project with an initial significant JORC resource in South Kalimantan (TCM Project). The TCM Project is nearing completion of Feasibility Study (scheduled for early next quarter).
Pan Asia brings together an experienced Board and management team with a proven track record in the identification, funding and development of resources projects around the world.
|
||
|
 |
Related Companies |
>>> Kopex SA >>>          Pan Asia Corporation Limited |
| |
Related Industry Topics: |
Energy General | Financial General | Mining | Coal | |
| |
This Page Viewed: (Last 7 Days: 140) (Last 30 Days: 670) (Since Published: 7020) |
Events & Exhibitions
|
Site Search
| ENGLISH All Languages |
Upcoming WebCasts
 | Mr Mark Paton CEO Cue Energy Resources Tuesday, June 12, 2012 |
 | Mr Alan Hopkins CEO Pan Asia Corporation Tuesday, June 12, 2012 |
 | Mr Barry Dawes Martin Place Securities Tuesday, June 12, 2012 |
 | Dr Andrea Grant CEO Living Cell Technologies Monday, July 02, 2012 |
|
Pan Asia Corporation Limited | ||||||
|
|||||||
Companies in the News
Mobile Video TV
|
||
|
||
){kind=link}