Pan Asia Corporation has made a further increase to the JORC resource estimate at its flagship Trans Coal Minergy (TCM) high calorific value (CV) coal project in South Kalimantan. The 12% increase has resulted in a total measured, indicated and inferred project resource of 128.8 million tonnes.  1

Kopex Mining Contractors calculated the updated estimate using results from 55 boreholes drilled to depths of greater than 200 metres. These holes, however, have only been drilled in part of the concession. Results from a further six holes will finalize the current drill program.

Pan Asia chief executive officer Alan Hopkins says. “The positive results keep coming from TCM and we now look forward to completing the current drilling in the north to see just how big a resource we can build here.” The company has an exploration target of between 200 and 220 million tonnes of 6500-6800 CV coal.

Last month, an exploratory drill program at the concession confirmed a potential second underground deposit in the northern section of the project. Four holes were completed 1.5km north of the previously drilled limit with drill core and geophysical logging confirming the continuity of the same coal seams from the TCM South deposit, which is undergoing a feasibility study for an underground longwall mining operation.

The company expects its feasibility study on the TCM project to be completed in the next few weeks.

www.panasiacorp.com.au

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