Australian coal exploration company Lemur Resources has updated its total measured coal reserves at the Imaloto coal project in Madagascar.
Coal in the main seam, which covers the southern, central and northern Imaloto concessions, now totals 73.3 million tons.
The project is located in the Imaloto Coal Basin in the greater Sakoa Basin of South West Madagascar.
Presently, 52% of the 147.5 million tons of coal in situ fall under the measured category.
The company’s recently completed western drilling program also upgraded 80% of the total resource to the measured and indicated categories, reported Proactive Investors UK.
Lemur Resources managing director Blair Sergeant was quoted by the website as saying that the results of exploration programs commenced in March 2009 supports the value of the Imaloto Coal Project.
"We now know that the Imaloto resource can be beneficiated to produce an export grade thermal product, a lower quality coal suitable for consumption by a power station and that the project area contains sufficient tons to support a mining operation for a sustained period of time," Sergeant noted.
Additionally, Lemur awaits the results of a 33 hole infill drilling program completed on 2 December 2012.