Caledon Resources (CDN)

Caledon Resources (CDN)

Caledon Resources (CDN) - Minyango Resource Update

Australian coal producer and explorer Caledon Resources plc has announced a 52 Million tonne upgrade to the Coal Resource estimate at the Minyango Project (EPC 699) to 292.1 Million tonnes. As the Resource is amenable to underground extraction, a cut off of less than 350 metres of depth of cover to the basal seam (Pollux) was applied, with most borehole intersections between 200 and 300 metres.
Table1 Resources for Minyango Deposit to 350m Depth of Cover

Caledon’s Managing Director Mark Trevan said the 53 Mt upgrade in the Measured Resource category was an important milestone in the company’s evaluation of the project.

The company expects to initiate its third drilling program in the second half of the year, subject to drill rig availability. The deposit remains open in the southern section of the lease area

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