The Minyango project, located near the company's Cook mine, holds a total resource of 292.1Mt, comprising 53.1Mt measured, 94Mt indicated and 145Mt inferred resources.

The coal quality has a potential mix ranging from a low-sulphur coking and thermal coal split to a 100% semi-soft coking coal or an unwashed thermal coal.

Wash simulation results for the coking coal product found it had a 60.9% coke yield with a 7.2% ash content and the thermal product had a 30.4% thermal yield with 13.9% ash.

Caledon plans to do a third drilling program in the second half of the year, subject to drill rig availability.

Caledon was trading down 2.1% mid-morning at $A2.30.