Carabella Resources, a coal exploration and development company, has reported an initial joint ore reserves estimate of 11 million tons at its Bluff ultra-low volatile PCI project in Queensland, Australia.
The company announced a resource estimate of 21.5 million tons in July, comprising an indicated resource of 11.2 million tons as well as an inferred resource of 10.3 million tons for the coal project.
The Department of Environment and Heritage Protection will assess the environmental authority (EA) application submitted by Carabella for the project, under a six-stage approvals process.
Carabella has undertaken a five hole in-fill drilling program to enable further resource delineation, as well as conversion from inferred resources category into mineable reserves.
The mining lease application will also be processed in parallel while company is likely to receive project approvals in the first quarter of 2014.
Brisbane-based Carabella Resources holds interests in a portfolio of coal exploration tenements covering a substantial exploration area of about 4,200km² across Queensland’s coal basins.