Drilling Confirms Potential for Second Underground Coal Deposit
Sydney, Mar 27, 2012 AEST (ABN Newswire) - Pan Asia Corporation Ltd (
ASX:PZC) is pleased to announce confirmation of a potential second underground deposit in the north of the TCM coal concession in South Kalimantan.
After completing 4 exploratory drill holes in the north of the concession, drill core and geophysical logging have confirmed continuity of the same coal seams from the TCM Nouth deposit (which contains a 114mt JORC resource and is undergoing a feasibility study for an underground longwall mining operation).
The spacing of these drill holes extended ~1.5 kilometres north from the previously drilled limit of the TCM South deposit and it remains open for another ~4 kilometres to the north (see diagram in Link Below).
Pan Asia CEO Alan Hopkins said "This is an excellent result confirming the probability of a similar deposit in the northern half of the concession."
PARAMETERS USED IN JORC UPGRADE IN OCTOBER 2011
1. A total of 35 boreholes was used for the update of the resource estimation;
2. This preliminary resource update was made for the purpose of re-estimating the resource numbers and evaluating the tectonic structure of the rocks;
3. All finished boreholes were geophysically logged, samples taken and sent to laboratories;
4. Profiles, logs of boreholes and seam correlations have been completed;
5. Collar coordinates have been completed;
6. Laboratory testing: quality, Geotech, gas methane underway;
7. Quality model to be updated;
8. Full version of resource statements to be elaborated after all drilling and laboratory testing completed.
For the full announcement including tables and diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PZC-583556.pdf
Contact
Pan Asia Corporation Limited
T: +61-8-9381-5819
F: +61-8-9388-3701
WWW: www.panasiacorp.com.au
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