The 17-hole program was completed in EPC 956 during the June quarter and the company is awaiting the results from the final batch of 85 samples undergoing raw coal analysis.

Coal was intersected in all holes of the program, with at least 10 holes showing one or more potentially economic coal seams between 1m and 3m in thickness.

Once the results are received, preliminary resource modelling will be undertaken to determine the zones of the deposit that offer the most economic potential.

EPC 956 is held by the Tiaro Coal Joint Venture, which also involves Core Coal and Jandale.

Tiaro ended the recent financial year with cash of $A295,335.

The company has stakes in six Queensland coal permits.

Shares in Tiaro remained unchanged yesterday at 13.5c.