Comet Ridge - EPC1230, MLA700005, 100%

BCC acquired the advanced Comet Ridge project from Acacia Coal Limited which is located 60km East of Emerald and 25km South of the township of Comet.

Comet Ridge is an open pit project with a JORC resource of 57Mt shallower than 50 m. BCC is targeting the Fair Hill seam and the stratigraphically lower Triumph seam to produce a coking coal with secondary thermal coal. The Fair Hill seam is a typical (for Fair Hill formation coals) predominantly dull coal and highly interbedded with carbonaceous siltstones and tuffaceous claystone. Thin bands of bright vitrinite occur throughout the coal and the Fair Hill seam can vary between 9-14m in thickness.

The Triumph seam lies approximately 25m below the Fair Hill seam and is generally less banded and up to 2m in thickness.

All recent exploration work has been carried out by Acacia Coal Ltd and has resulted in a database of 223 holes suitable for modelling the deposit. All holes have been geophysically corrected and the coal seams and plies correlated for the Fair Hill and Triumph seams. In 2015 a total of 5 holes were drilled consisting of non-core and partial core holes with four holes targeting the Fair Hill seam and one targeting the Triumph seam.

In conjunction with the 2015 drilling Acacia Coal management oversaw the extraction of a bulk sample from the Triumph seam within EPC1230. The Triumph seam was intersected at a depth approximately 10m from surface and was in fresh rock directly below the base of weathering. An application for a mining lease (MLA 700005) was submitted to the Queensland Department of Natural Resources and Mines in March 2015. An Environmental Impact Management Report (EIMR) was submitted concurrently with the mining lease application. Environmental approval has been received in August 2016, and the Mining Lease Application had not yet been granted by the Queensland Government.

Independent Geologists McElroy Bryan Geological Services (MBGS) have prepared the JORC Compliant Resources Report in accordance with the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves 2012 Edition (The JORC Code) as summarised below:

Mining Method Depth Interval (m) Measured (Mt) Indicated (Mt) Measured + Indicated (Mt) Inferred (Mt)
Open cut 0 - 30 6.8 3.6 10.4 8
Open cut 30 - 50 0.7 5.8 6.5 35
Total 7.5 9.4 16.9 43
Total Resources (rounded) 8 9 17 40