The company has an Exploration Target range of 800 to 1700 million tons of high-grade coal at the project with a potential of producing a semi-soft coking coal product.
Additionally, detailed exploration program on EPC 2318 has also been approved by the Board of International Coal, subject to final costings.
ICX CEO Glenn Simpson said that the company aims to intersect coal seams at mineable depths in the Bandanna Formation and plans to establish a JORC Inferred Resource and to test the coal quality.
"We are about to explore one of our most exciting prospects to date in the Bowen Basin (Consuelo Project) and are leveraging our joint venture relationships to achieve success at low cost," Simpson added.
"We continue to back our ability to achieve significant coal finds and pursue new opportunities for coal discoveries."
The Consuelo Project is located between Glencore Xstrata’s Rolleston Mine and Bandanna Energy’s Arcadia Deposit.
