The Isaac Plains deposit, seven kilometers east of Moranbah, is a joint venture between Aquila and a subsidiary of AMCI Holding Australia.
Coal resources were measured in the Leichhardt and Leichhardt Lower seams of the Rangal Coal Measures, showing 28Mt measured resources, 6.6Mt indicated resources and 9.7Mt inferred resources.
Initial coal quality drilling from seven 100mm cored holes has indicated potential for coking, PCI and low ash thermal coal products.
Optimum products and yields will be determined from the results of detailed quality analysis for the cored holes drilled on a 500-metre spacing through the deposit.
Full quality results will be well advanced in the December quarter.
Shares in Aquila were up 11.5% at A$1.45 on Friday’s close of trading.
