Bandanna Energy Limited (ASX:BND)
Brisbane, May 28, 2009 AEST (ABN Newswire) - Bandanna Energy Limited (ASX:BND) is pleased to announce the results of its recent exploration campaign in EPC 1221 ("Arcturus Project"), comprising 21 open holes, 11 Line of Oxidation holes and 11 core holes.
EPC 1221 is 100% owned by Springsure Creek Coal Pty Ltd, a wholly owned subsidiary of Bandanna Energy Limited.
In total, over 3,300 m of drilling has been undertaken including 253 m of coal quality coring. All holes are located in the southeastern portion of EPC 1221 focused on the north plunging Arcturus Anticline. The penetrated coals can be correlated to the Rangal Coal Measure seams which to the north are mined at BMA's Blackwater Mine. As shown on the accompanying tables the coals include seams with low moisture, low sulphur, low ash and moderate specific energy.
The results are encouraging for eventual marketing of a washed moderate energy, low ash, thermal coal product from this deposit using open-cut mining techniques.
In addition to on-going exploration activity and further analyses of core hole data Bandanna Energy is investigating marketability, financing and other key economic factors as a prelude to formally evaluating the potential for mine development.
Gordon Saul, Principal Geologist of Resolve Geo Pty Ltd, consultants to Bandanna Energy Limited, has provided an interpretive summary of these results. (See Full announcement) Resolve Geo Pty Ltd is a shareholder in Bandanna Energy Limited.
Contact
Dr Ray Shaw
Managing Director
Tel: +61-7-3041-4400
Fax: +61-7-3041-4444
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