South African-based coal producer Universal Coal has reported a 56 percent increase in the indicated and measured coal resource for its Berenice/Cygnus coking coal project in South Africa.
At the Berenice/Cygnus coking coal project, the JORC Resource has now increased to 1.3 billion mt, which was achieved after the company received analytical data from infill holes - which were completed during the first phase drilling program.
Universal Coal's chairman Tony Harwood commented on the positive news for the company, stating, "We are delighted with the increase in the resource base at Berenice/Cygnus and in particular the significant increase in the JORC indicated and now defined measured tonnages.
Universal Coal are now proceeding with a detailed interpretation of the data and with the results of the full coking coal and coke analysis, expected later this month. A feasibility study is forecast to commence in 2012.
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