Rocklands Richfield said that Inferred Resources within the Rocklands Coal Project EPC 890 have been re estimated at 700 million tonnes of bituminous coal. The company owns a majority share (60%) in HLM Coal Australia Pty Limited which holds a 100% ownership of EPC 890, a 150 square kilometer exploration permit in the central part of the Bowen Basin, 20 kilometers south of Blackwater and 200 Kilometers west of Rockhampton in Queensland.

The resources are based on a reassessment of previous exploration within the tenement and are classified in accordance with the 2004 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Most of the coal resources in EPC 890 have metallurgical potential. In addition to the above an Exploration Target of around 200 million tonnes to 300 million tonnes of bituminous coal has been estimated.

Mr John Girdlestone CEO of Rocklands Richfield said that this potential exists outside a 2,000 meter radius buffer around points of observation in EPC 890, but there is insufficient data for it to be classified as part of the coal resources. The potential quantity and quality are conceptual in nature and there has been too little exploration to define a mineral resource.

It is uncertain if further exploration will result in the conversion of any of this coal to a resource. Outside of the resources, Geos Mining estimates an additional Exploration Target of around 200 million tonnes to 300 million tonnes of bituminous coal. This exploration target was estimated assuming an average seam thickness of 1.50 meters, a relative density of 1.35, a maximum raw ash content of 35%, no maximum depth of cover and with no minimum inter burden thickness applied.

(Sourced from www.proactiveinvestors.com)