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Altona Energy announces three phase exploration programme at Westfield project
AIM-quoted coal miner Altona Energy has launched a three phase exploration programme at its Westfield Tenement project in Australia.
Following the appointment of Brenton Newell as its consulting geologist in February, Altona has prepared a costed exploration programme, based on the identification of any shallow coal seams amenable to open cut mining
The three-phase study, which includes an initial exploration period, followed be a JORC compliant mineral resource estimation and a bankable feasibility study, will cover a number of previous drill targets that had not been subject to modern exploration - including an area identified by BP Minerals in the southwest of the Westfield Tenement which, along with an appreciation of the area's geology, has allowed a comprehensive drill programme to be designed.
As a result, Altona was now able to estimate the costs associated with the three-phase programme at approximately AUD 1.53m - which was lower than previously anticipated - primarily due to the targeting of shallow coal seams which are thought to be relatively flat lying.
Chief executive Nick Lyth, said, "We will proceed with the planning of the Initial Exploration phase imminently, and I will travel to Adelaide in April to meet with Mr Newell and Euro Exploration Services, our engineering consulting partner."
"Further, our joint venture partners, Sino-Aus Energy Group and Wintask remain enthusiastic about the project and have agreed to join the meetings in Adelaide to participate in the programme discussions," he concluded.
As of 1040 GMT, shares were untraded at 0.35p.