APAC Coal Limited “(APAC”) has a 30 Year Concession to explore for coal over a 23,124 ha parcel of land in East Kalimantan, Indonesia. A JORC compliant resource of 5.1 million tonnes has been identified which is expected to form the basis of an initial mining operation. This resource occurs within a very small area of the Concession(3.8%) with over 90% of the Concession yet to be explored to any significant degree. Kalimantan is the principal coal producing region of Indonesia, the world's 7th largest coal producer.
APAC is a subsidiary of Singapore listed Magnus Energy Group Ltd (“Magnus”), which operates in the upstream petroleum and coal business. Magnus has committed to providing a low cost Management and Finance Team in the initial phase of the development of APAC.
PT Dunggio Drilling (dunggiodrilling.com ), has been selected as the drilling contractor. PT Dunggio Drilling will use the wire line system of drilling to ensure more than 90% recovery of core. PT Dunggio Drilling has a sound record of achievement and has a high quality client list.
The drilling programme will be supervised by Ravensgate Geologists to ensure conformace to standards with particular reference to core retention and sampling.
It is anticiapted the work will further define grade distribution and extend the quantitative value of the coal tonnage in the 890 hectare Bekosos Lempesu Block. The objective of the drilling program is to Delineate additional tonnes, Identify the most suitable for mining and Upgrade a large proportion of the resource to the measured category.