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; and
  • Depth Range: 30 m – >200 m.

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

Background

Joint Venture secured with ITOCHU of Japan, providing full funding through to Bankable Feasibility Study.

Drilling (totalling 157 drill holes) has intersected multiple coking coal seams including a 4-5m clean seam to a 16m banded coal interval.

Recent 2018 Airborne Falcon Gravity Survey has identified 15 targets across the project area (12 new un-tested targets).

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

Vitrinite’s 2016 coal analysis results included a Fluidity over 30,000 ddpm, which was investigated as a separate product named ‘Karin Prime’.

The KARIN PRIME coking coal ca n be described as a high volatile coking coal displaying excellent plastic properties such as fluidity, plastic range, dilatation and CSN. Clearly KARIN PRIME is the highest fluidity coal from Australia – and amongst the highest in the world (Commodity Insights, 2017).

Throughout the rest of the project the fluidity is reduced, largely correlated with rank.

 

 

Clermont Mine with the Karin Basin Project in the background