Highlights

The Karin Basin contains multiple, thick coal seams with exceptional coking coal properties;

  • Close to rail, water and power infrastructure as well as services in Clermont;
  • Clean seams up to 4.5 m thick;
  • Banded seams up to 16 m thick;
  • CSN of 6.5 – 9, high fluidity and high yield at low ash;
  • Open Cut and Underground;
  • High potential to discover more resource across a large project area;
  • Depth Range: 30 m – >200 m

For the latest announcement on the Karin Basin coal quality click HERE.

Background

Vitrinite acquired 100% of the Karin Basin asset on the 30th of August 2016.

An initial exploration program comprising of 9,155 m drilled over 54 exploration holes including 5 partially cored holes and 49 chip holes has been carried out by Vitrinite. This exploration was based on data from 1980’s recently made public by the Department of Natural Resources and Mines.

Results of Vitrinite’s recent exploration exceeded expectations based on historical results, particularly in coal quality of at least five seams over the target area. Further drilling has increased confidence that at least two main seams are persistent and correlatable over the target area.

High fluidity coking coals are currently in high demand from steel mills globally due to recent supply reductions. Mine closures including BHP Billiton’s Gregory Crinum have contributed to this and create a gap in the market for high fluidity coal.

Geology

Located on the western flank of the Bowen Basin, the Karin Basin is on the northernmost tip of the Springsure Shelf.

In this area coal has been preserved in structurally controlled basins which present as gravity lows above the basement rocks. Within the Karin Basin these coals have been found to exhibit exceptional coking properties.

Recent exploration by Vitrinite has been based on historical drilling and re-processing of available geophyical data, mainly the gravity data. Results have shown that gravity proves a reliable tool for targeting Permian sediments and coal in this area. The tenement contains multiple gravity lows which are poorly explored by drilling. These gravity lows present targets for future exploration further to the resources already defined.

Coal Quality

Coking coal with high fluidity and CSN values from 6.5 – 9.

Clermont Mine with the Karin Basin Project in the background