Yari Minerals (ASX:YAR) has increased the inferred resource by 91% at the Rolleston South Coal Project in Queensland.
The project’s total resource has grown from 78.9 million tonnes to 151 million tonnes. The resource upgrade was driven by integrating open-source data from two coal seam gas wells drilled by State Gas (ASX:GAS) in 2021.
Yari, which has seen its share price increase 25% to $0.010 on the back of the news, says this milestone underscores its focus on leveraging high-quality data to unlock value in a premier coal region.
Managing Director Anthony Italiano says the uplift in the inferred coal resource is an “outstanding” outcome at this stage of the project’s development.
“This growth reinforces the Rolleston South Coal Project’s potential as a high-quality asset in a tier one location and the potential for further upside to the resource,” Italiano says.
“Our board is now focused on accelerating development, with site visits planned to finalise drilling targets for our inaugural campaign.”
Yari is also planning to conduct further exploration to expand the resource beyond the current 151 million tonnes.
Development planning is also underway to capitalise on the project’s open-cut and underground potential.
The Rolleston South Coal Project, covering 272km2, is located southwest of Rolleston and 275km west of Gladstone in Central Queensland. The project is well serviced by infrastructure, with the state highway transiting the project location and within 40km to the Blackwater Rail system.
Write to Aaliyah Rogan at Mining.com.au
Images: Yari Minerals
