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Columboola JV identifies mineable coal at Goombi Project in Queensland

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MetroCoal along with itsjoint venture partner SinoCoal Resources has reported the discovery of a shallow, opencut mineable coal at the Goombi Project in the Columboola joint venture area.

Opencut inferred resource of 45 million tonne was identified in the Kogan and Macalister Upper Seams at 80m depths below surface.

An earlier four hole infill drilling program completed in October 2012 have confirmed the coal seam thickness.

The JV is currently analyzing the depth and the cores for coal quality and washability.

The deposit's full economic potential is expected to be released after further extensive work including additional drilling, coal quality and washability modelling and mine design.

The Columboola joint venture has commenced technical evaluation of mining options and economics in order to initially export 1 million ton a year product coal.

Over the long term, the JV seeks to develop a large modern underground longwall mine.