Dwyka Resources Limited (DWY)

Dwyka Resources Limited (DWY)

Highlights
• Commencement of core drilling at Daguma
• Construction of the Daguma camp and core shed completed
• Geological mapping identifies up to 18m thick coal seam

Dwyka is pleased to announce that diamond drilling of the Daguma coal project, located on southern Mindanao, in The Philippines, has commenced on schedule.  The drilling programme will enable Dwyka to verify historic results and further define and delineate a JORC-compliant resource.

The initial 5,000 metres of drilling will consist of 25 large diameter drill holes with an estimated depth of 200m. Approximately 500 samples will be sent to Manila for coal quality analysis.

The construction of a 15-man camp and core shed at Daguma has also been completed on schedule and within budget.

The ongoing geological mapping and interpretative desk studies have indicated that the main coal seam may reach a thickness of up to 18m in the central parts of the Daguma deposit. 

The initial exploration target is to outline between 125-150 million tonnes of coal with a calorific value of between 5,300 and 5,500 kilocalories per kilogram within the coming 24 months. It is the Company's intention to bring the Project into production during that period.

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