The drilling campaign finished a week ago and covered three areas in permits EPC 956 and EPC 957.

At an average depth of 144m, multiple thin coal seams were intersected but standout results included a 5.3m working section and a 6.3m working section.

While the coal often had high ash levels, even reaching up to 49%, Tiaro can see potential to produce export-quality coking coal.

Tiaro technical director Jacob Rebek set an exploration target of 20-30Mt for the two permits.

“This includes a resource target in the order of 2-5 million tonnes of high-quality coking coal with 9 per cent ash in washed product at a yield of 68 per cent,” Tiaro said.

Tiaro holds 45% of the T9 and Munna Creek projects but can earn up to 65% under the joint venture arrangements with Dynasty Metals Australia.

Tiaro shares were unchanged at 36c yesterday.