Balamara nearly quadruples Nowa Ruda resource
PERTH (miningweekly.com) – Coal explorer Balamara Resources has reported a 270% increase in the coking coal resource at its Nowa Ruda project, in Poland.
The project was estimated to host a total mineral resource of 86.5-million tonnes, of which 30.5-million tonnes was classified as measured and indicated, and the remaining 56-million tonnes as inferred.
Balamara stated on Wednesday that the updated resource estimate at Nowa Ruda was the result of a successful drilling campaign completed over the past 16 months, which also provided updated coal quality, geotechnical and other data for the deposit.
The results of the drilling campaign would underpin the completion of a prefeasibility study for Nowa Ruda, which was due for completion by the end of the month.
Balamara ceased trading on the ASX at the start of May, as it hunted for a more "appropriate" exchange on which to re-list, market permitting.
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