Pan Asia fast tracks target of 200 MT resources at TCM

By Nur Azizah

Australia-listed company Pan Asia Corporation announced that it has commenced further drilling in the north of the PT Transcoal Minergi (TCM) concession, to follow up the recent positive drill results from this area.

?We have moved quickly to follow up the recent positive results with more drilling as this could add significant mine life and value in the very near term to the TCM high CV coal project,? Pan Asia CEO Alan Hopkins said.

Initially, a drill program comprising 6 holes and 2,470 meters has been planned to test the extent of the coal seams in this northern area. It is estimated that these 6 holes will take about ten weeks to complete.

If this program confirms that the recent positive results achieved from the first 4 exploratory holes continue to the boundary of the concession, then the company has an exploration target of 200 to 220 million tons of 6500 ? 6800 CV (adb) coal for the TCM project.

The company earlier said it had completed drill core and geophysical logging from 4 exploration drill holes in the north of the TCM concession identifying the continuation of coal seams from the south of the deposit. The coal quality analysis from these 4 drill holes is still pending.

It said that the 4 drill holes in the north identified the SU and SM seams (targeted for underground exploitation) as being shallower than expected with the parting between the seams narrowing to the north.

Editing by Adianto P. Simamora