Bandanna Energy Limited Stock Market Press Releases and Company Profile
Bandanna Energy Limited (ASX:BND) Total Resources At Arcturus Project Rise To 206.3 Million Tonnes
Bandanna Energy Limited (ASX:BND) Total Resources At Arcturus Project Rise To 206.3 Million Tonnes

Brisbane, Oct 7, 2010 AEST (ABN Newswire) - Bandanna Energy Limited (googlechartASX:BND), through its wholly owned subsidiary Springsure Creek Coal Pty Ltd is pleased to announce an increase in its JORC compliant resources at EPC 1221 (Arcturus) to 206.3 million tonnes.

This resource comprises Inferred Resources of 103.7 million tonnes and Indicated Resources of 102.6 million tonnes. The resource increase has partially resulted from the completion of 20 cored boreholes and subsequent detailed analysis including coal quality on all target seams. Additionally, geological consultants, Resolve Geo, have conducted a geological review of existing Bandanna drillholes, historical drillholes and seismic traverses as well as a complimentary geostatistical review of all available data. The resource represents an approximate 33% increase over the 154 million tonnes reported May 2009 and comes despite extended periods of wet weather and poor ground conditions which have severely delayed drilling on the project. In particular the 100% increase in Indicated Resource will underpin mining concept studies currently in train.

Arcturus is 100% owned by Bandanna's wholly owned subsidiary Springsure Creek Coal Pty Ltd.

The Arcturus increase brings the total of JORC compliant resources to 1.366 billion tonnes in the Bandanna Energy project portfolio.

Arcturus is located within Bandanna's so called "Golden Triangle" of projects where the previously declared Springsure Creek and Arcadia projects are also currently undergoing mining concept studies. The close proximity of the projects to each other and to that of major infrastructure is a critical factor as Bandanna Energy progresses the potential development of the province.

Bandanna has recently announced it has secured 4 million tonnes export capacity through Stage 1 of the Wiggins Island Coal Export Terminal at Gladstone.

Dr Ray Shaw, Managing Director of Bandanna Energy, concluded "this resource increase at our Arcturus Project and previous resource expansions at Springsure Creek clearly vindicates Bandanna's successful participation in the WICET allocation process".

The full version of the EPC 1221 Arcturus Resource Statement can be viewed at the Company website http://www.bandannaenergy.com.au .

For the complete Bandanna announcement including figures, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/63899-ASX-BND-179844.pdf

Contact

Dr Ray Shaw
Managing Director
Tel: +61-7-3041-4400

Andrew Crook
Mob: +61-419-788-431
www.bandannaenergy.com.au



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