The drilling program comprises seven drill holes to varying depths along five nominal west-to-east-lines in a 15km north-south corridor that has returned potential coking coal deposit during a discovered International Coal (ICX).
Fox has undertaken the program to identify if seams intersected at depths of 250m in EPC 2196 of ICX extends into Bundaberg EPC 1523.
Earlier in March 2013, ICX reported an inferred resource of JORC resource of 28.5 million tons along with down-dip exploration target of 20 million tons to 40 million tons within the neighboring EPC 2196 tenement.
The company expects multiple coal seams ranging from 0.2m to 2m thick over a stratigraphic interval of 5m to 20m.
Meanwhile, Fox Resources is keen on transferring its coal tenements under its coal subsidiary Waterford Coal.
