Coal FE announces resource upgrade at Abadi coal project

ASX-listed firm Coal FE Resources Limited announced on Thursday the increase in both the measured and combined coal resources in its PT Pancaran Surya Abadi Coal Project in Kutai Kartanegara regency, East Kalimantan.

The company said analysis by Ravensgate Minerals Industry Consultants had upgraded Coal FE?s measured resource to about 27.5 million tons (MT) from 0.4 MT. Categorized resource now totaled 34.5 MT from 27.2 MT.

?The up-dated coal resource estimate that has been prepared with consideration to JORC (December 2004) and Australian Coal Reporting Guidelines referenced by JORC,? the company said.

The increase is a result of the completion of the second phase drilling with a total of 50 additional drillholes to a typical depth of 50-100 m within the main project area of about 300 Ha located in the south-western portion of the overall concession area. The latest phase of drilling occurred between March and May 2009. All holes were electronically logged for density, resistivity and width, it added. (denny)