cuesta’s flagship moorlands thermal coal project ... a stratigraphic model generated in minescape...

Cuesta Coal Limited | ACN: 153 351 994 | Head Office: Suite 14.01, Level 14 20 Hunter Street Sydney NSW 2000

PO Box Q716 Queen Victoria Building NSW 1230 | Tel: 02 9284 5900 | Fax: 02 9284 5999 www.cuestacoal.com.au | www.twitter.com/cuestacoal

ASX Announcement

Cuesta’s Flagship Moorlands Thermal Coal Project Resources expands to 318Mt

Proposed South Pit resource now in majority Measured and Indicated Resource Category

Detailed coal quality analysis has confirmed lateral consistency of coal quality

Additional coal quality data indicates more raw coal bypass than previously reported

Average 23m cumulative coal thickness of primary seams throughout the deposit

Maiden Coal Reserve Statement currently being finalised

Indicative Product Coal quality specification now finalised for Japanese, Chinese and Korean markets

26th February 2015: Cuesta Coal Limited (ASX: CQC) (“Cuesta” or “the Company”) is pleased to announce a resource increase at its flagship Moorlands Project with the total JORC resource increasing to 318Mt. Significantly, the Measured and Indicated JORC Resource categories have increased to 76% of the total estimated resource, and further supports the initial open cut mine plan at the proposed Moorlands South Pit.

The Moorlands Project is located 30kms NW of the township of Clermont in the Western Bowen Basin of Queensland and to the immediate west of the Blair Athol and Clermont coal mines.

Resource Upgrade Following completion of the 2014 exploration program at Moorlands, the geological data obtained has been compiled and loaded into the Company’s 3D geological model to ascertain the upgraded resource estimate (see Table 1 below). The Measured Resource combined with a substantial increase in Indicated Resource is a marked improvement in the geological confidence of the Moorlands Project. Cuesta anticipates improvement in the proposed south pit mine design due to the southerly sub‐crop extension of the coal resource, resulting in increased coal quantities and a widening of the proposed mining area. Table 1: Moorlands Project Resource Classification in Accordance with JORC Code (2012)

Moorlands Project (EPC 775, 776, 1738) Coal Resource Summary (Mtonnes)

Deposit Measured Indicated Inferred Total

Moorlands 113.4 128.4 76.2 318.0

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2014 Exploration Program

The company completed a 67 drill hole infill exploration program during 2014 with 21 of these being cored holes (Figure 1).

5 holes were fully cored geotechnical holes to provide data for pit wall design for the Moorlands BFS.

2 large diameter 150mm cored holes were drilled to provide material for range of analysis including detailed particle sizing data to validate against the data gained from 100mm core.

The remaining 14 cored holes were all 100mm conventional core holes located within the proposed south pit area.

In total 1120m of coring was completed by Cuesta at Moorlands during the year. Full proximate and washability analysis has been completed, or is in the final stages of completion, for all core holes drilled in 2014.

Coal Reserve Statement and Definitive Feasibility Study Subsequent to the 2014 Exploration Activities, the company has updated its 3D Geological Model to develop a pending maiden reserves estimate and a comprehensive coal quality specification of its product coal from the Proposed South Pit.

A Maiden Coal Reserve Statement is currently underway by Cuesta’s technical team and it is anticipated to be completed for release to shareholders shortly. The geological data and the upcoming reserve calculation are key components to the Moorlands Definitive Feasibility Study (DFS). Activities in relation to the DFS have focussed on initial mine planning, coal processing and preliminary engineering of associated infrastructure. Following finalisation of the Maiden Coal Reserve Statement, mine planning and coal processing strategy will be further optimised to reduce operating and initial capital costs. The company looks forward to further updating the market on these activities in due course. Coal Quality

The company anticipates producing a 10.5% ash product for the Japanese market and a 12.5% ash product for the Chinese and Korean markets. The company believes the product will be attractive to power utility companies in these markets due to a combination of factors namely low ash content, moderate calorific value, attractive HGI levels and high ash fusion temperatures with good burn out characteristics. The company is pleased to confirm that the Moorlands Coal complies with the new requirements relating to energy and ash contents and also specific trace element levels for import restrictions into China. Proximate and Ultimate Analysis and Calorific Value

Table 2 below indicates the coal quality results relating to Proximate, Ultimate and Calorific Value of the

proposed South Pit at Moorlands. Overall there has been an increase in the energy level and a slight decrease in

the Sulfur content of the product coal.

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Table 2: Proximate, Ultimate and Calorific Value for Moorlands proposed South Pit

Ash Analysis Detailed breakdown of the ash analysis is shown in the table below, which is in line with expectations and is

shown in Table 3 below.

Table 3: Ash Analysis breakdown for Moorlands proposed South Pit

Ash Analysis (% in dry ash)

SiO2 Fe2O3 AI2O3 TiO2 P2O5 Mn3O4 CaO MgO Na2O K2O SO3

53.5 6.2 34.4 1.9 0.22 0.14 0.9 0.80 0.56 0.2 0.4

Analysis Air Dried

Proximate Analysis

Inherent Moisture (%) 8.5

Ash (%) 10.5

Volatile Matter (%) 30.5

Fixed Carbon (%) 50.5

Calorific Value

Gross Calorific Value (kcal/kg) 6160

Ultimate Analysis

Carbon (%) 63.3

Hydrogen (%) 4.3

Nitrogen (%) 1.5

Oxygen (by difference) 11.1

Sulphur (%) 0.70

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Ash Fusion and HGI

The table below indicates the properties relating to Ash Fusion and Hargroves Grindability.

Table 4: Ash Fusion & Hargroves Grindability Index for Moorlands proposed South Pit

Analysis Air Dried

Ash Fusion

Deformation 1560oC

Sphere (Softening) 1585oC

Hemisphere 1590oC

Flow 1600oC

Hargroves Grindability Index

HGI 60

About Cuesta Coal

Cuesta Coal Limited (“Cuesta”) is an ASX listed coal exploration company with a pipeline of coal projects ranging from development to greenfield exploration. The Company is strongly supported by its major cornerstone investor and is targeting coal production from its priority Moorlands Project in a 3 year timeframe. Cuesta has a diverse portfolio of thermal and coking coal exploration prospects within the Bowen, Surat and Galilee basins, the Company’s core projects are well situated geographically. For further information: Matthew Crawford Keith McKnight Managing Director Chief Operating Officer Cuesta Coal Limited Cuesta Coal Limited+612 9284 5900 +617 3327 8100

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Table 5: Moorlands Project (EPC 1738, 775 and 776) – Coal Resources – Resource Classification in Accordance

with JORC Code (2012)

Resource Category

Value

Moorlands Basin Total Tonnes (Mt)

B3 B4 B5 B7 B8 B9 B11 B12 B13

Measured

Volume (Mm3) 18.8 6.5 4.8 33.5 13.1 ‐ ‐ ‐

Thickness (m) 8.95 2.53 1.55 8.96 4.41 ‐ ‐ ‐

Relative Density

(t/m3) 1.54 1.43 1.56 1.53 1.47 ‐ ‐ ‐

Sub‐total Tonnes

(Mt)

28.9 9.3 7.5 49.0 18.7 ‐ ‐ ‐ 113.4

Indicated

Volume (Mm3) 5.9 29.0 6.3 3.2 30.6 10.5 ‐ ‐ ‐

Thickness (m) 1.9 8.95 2.53 1.55 8.96 4.41 ‐ ‐ ‐

Relative Density

(t/m3) 1.73 1.54 1.43 1.56 1.53 1.47 ‐ ‐ ‐

Sub‐total Tonnes

(Mt) 10.1 44.5 8.9 5.1 44.9 14.9 ‐ ‐ ‐ 128.4

Inferred

Volume (Mm3) 1.2 7.0 1.2 0.3 4.8 1.3 19.6 4.4 13.5

Thickness (m) 1.9 8.95 2.53 1.55 8.96 4.41 2.74 0.66 1.79

Relative Density

(t/m3) 1.73 1.54 1.43 1.56 1.53 1.47 1.37 1.42 1.42

Sub‐total Tonnes

(Mt) 2.1 10.8 1.6 0.5 7.1 1.9 26.9 6.2 19.1 76.2

Grand Total Tonnes (Mt) 12.3 84.2 19.8 13.0 101.0 35.5 26.9 6.2 19.1 318.0

Notes: * Volumes and tonnages have been rounded.* Coal tonnes stated are on an in situ basis using estimated default in situ moisture of 16% and the Preston Sanders

equation. * The project area is within EPC 1738, EPC 775 & EPC 776. * The target mineralisation is the Late Permian coal measures within the Moorlands Basin. * The coal is found in ten seam groups – Seams (B2, B3, B4, B5, B6, B7, B8, B9, B10, B11, B12, B13). Resources have

been estimated only for the B3, B4, B5, B7, B8, B9, B11, B12 & B13 seam groups. * A minimum seam thickness of 0.3 metres and maximum raw ash cut‐off of 50% (adb) has been used. * A depth cut off of 250 metres has been used to limit resources. * A stratigraphic model generated in Minescape has been used. Gridded seam surfaces, base of tertiary and

weathering surfaces have been created on a 25 m by 25 m grid cell size. All seams are clipped to the base of weathering.

* As of the 26th February 2015, the Moorlands Project is estimated to contain a total Resource of 318 Mt, being

composed of 113.4 Mt of Measured, 128.4 Mt Indicated and 76.2 Mt Inferred. * The coal present is a sub‐bituminous coal with low‐moderate ash (adb), moderate specific energy (adb) and low to

moderate sulphur (adb). * Resource classification was developed from the confidence levels of key criteria including drilling methods, geological

understanding and interpretation, sampling, data density and location, grade estimation and quality. This classification was completed in accordance with the guidelines as set out in the JORC Code (2012).

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Table 6: Moorlands Project Resources by Depth of Cover (Mtonnes) (JORC 2012)

Seam Resource Categories 0‐50

metres

50‐100

metres

100‐150

metres

150‐200

metres

200‐250

metres Total

B3 Measured + Indicated 0 2.8 4.9 2.4 0 10.2

Inferred 0 0.4 0.8 0.9 0 2.1

B4 Measured + Indicated 1 15.2 32.2 21.7 3.3 73.4

Inferred 0 0.8 2.8 6 1.2 10.8

B5 Measured + Indicated 1.1 5.5 6 4.5 1.1 18.2

Inferred 0 0.1 0.4 0.6 0.5 1.6

B7 Measured + Indicated 0.4 2.2 3.1 4.6 2.3 12.5

Inferred 0 0 0 0.1 0.4 0.5


Inferred 0 0.2 1.2 2.2 3.4 7.0


Inferred 0 0 0.4 0.5 1 1.9

B11 Measured + Indicated 0 0 0 0 0 0

Inferred 0.6 4 9.7 4.4 8.3 27


Inferred 0 1.2 2.8 1.9 0.3 6.2


Inferred 0 2.3 7.8 8.1 1.0 19.0

Total Measured + Indicated 6.5 51.9 74.7 66.8 41.9

318.0 Inferred 0.6 9.0 25.9 24.7 16.0

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Figure 1: Map showing drill holes completed during Moorlands 2014 Exploration Program

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Figure 2: Map showing Moorlands Project Mining Lease Applications, proximity to the operating Clermont and historic Blair Athol mines and associated rail infrastructure

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Figure 3: Map showing Moorlands Project and location of the B4 Seam Resource

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Figure 4: Map showing Moorlands Project and location of the B8 Seam Resource For

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Figure 5: Map showing Moorlands Project and location of the B9 Seam Resource

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Figure 6: Moorlands Project – Long Section showing Moorlands Coal Seams

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Compliance Statement

The information contained in this report/ statement relating to the resource and exploration results for EPCs 1738, 775 & 776 were compiled or supervised by Blair Richardson, who is a Member of the Australasian Institute of Mining and Metallurgy and is General Manager of Exploration and Development for Cuesta Coal Limited. Mr Richardson has sufficient experience which is relevant to the style of mineral deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Richardson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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Appendix 1 - JORC Code, 2012 Edition – Table 1

This appendix details sections 1, 2 and 3 of the JORC Code 2012 Edition Table 1. Section 4 ‘Estimation and Reporting of Ore Reserves’ and Section 5 ‘Estimation and

Reporting of Diamonds and Other Gemstones’ have been excluded as they are not applicable to this deposit and estimation.

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary

Sampling techniques

Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple

(eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

Coal testing undertaken by Cuesta Coal Limited (Cuesta Coal) was predominantly on 4C Core (100mm diameter).Core testing by Hannigan & Associates was undertaken on 4C Core (100mm diameter). 3 PQ diamond core holes were drilled for geotechnical data collection. 2 6C(150mm diameter) Core holes have been drilled to validate particle sizing in the 100mm holes.

All seams intersected in core holes greater than 20cm in thickness were sampled. Stone bands greater than 20cm thickness were sampled separately to the coal or were not sampled at all if the interval represented a split in the seam.

All core sample depths were recorded according to depths maintained by the rig geologist. These depths were determined by a combination of driller depths and the geologists own recorded depths according to core loss and gain.

All sampled core was double bagged and labelled on site. Samples were given unique sample numbers and documented in a sample summary sheet.

Coal quality core samples were prepared and analysed using Australian Standard testing procedures (AS4264.1).

Coal quality analysis was undertaken by Preplab Testing Services Pty Ltd, Bureau Veritas Pty Ltd and CCI Holdings Ltd.

Drilling techniques

Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

5 holes were fully cored using a PQ barrel and 2 were cored using the 6C (150mm diameter) barrel.

All other quality holes were cored using a 4C core barrel (100 mm diameter). All structural holes were fully chipped open holes using blade, hammer or PCD bits. A complete list of drill holes and drilling methods is contained in Appendix 2.

Drill sample recovery

Method of recording and assessing core and chip sample recoveries and results assessed.

Measures taken to maximise sample recovery and ensure representative nature of the samples.

Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

Each core hole was reviewed for core recovery based on measured recovered thicknesses and geophysical log thicknesses. The majority of holes contained a recovery of greater than 95%.

Cored holes with seam recoveries of 90 - 95% were still used as points of observation (with less weighting) providing the geophysics suggested it was reasonable to do so.

Cored seams with recoveries of less than 90% were not used a coal quality points of

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observation but were included in the model if there was clearly no sample bias.

Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

The total length and percentage of the relevant intersections logged.

All core holes were geologically logged, marked up and photographed before sampling. All geological and geotechnical observations were documented.

All open holes were geologically logged and photographed. Historical holes drilled by CRA Pty Ltd were geologically logged but not photographed. The majority of holes were geophysical logged with at least the following tools; caliper,

density gamma, temperature and verticality. A few of the historical holes (prior to 1980) were not logged along with a number of recent holes that had operational difficulties. A complete list of the geophysical tools run in each hole can be found in Appendix 2.

The geophysical logging company (Geolog Pty Ltd) maintained and correlated all tools as per their internal calibration procedures.

Sub-sampling techniques and sample preparation

If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or

dry. For all sample types, the nature, quality and appropriateness of the sample preparation

technique. Quality control procedures adopted for all sub-sampling stages to maximise

representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material

collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.

All core samples were taken as whole core samples (not halfed). Core samples were sampled dry, double bagged on site and transported to the

laboratory for testing. All the laboratories (Preplab Testing Services Pty Ltd, Bureau Veritas Pty Ltd and CCI

Holdings Ltd) used for coal quality analysis comply with Australian Standards for sample preparation and sub-sampling AS4264.1).

All core samples were crushed to a top size of 11.2 mm before analysis, which is common industry practice (AS4264.1) for 4 inch core (100mm diameter).

No duplicate or second half samples were taken.

Quality of assay data and laboratory tests

The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

All laboratories Preplab Testing Services Pty Ltd, Bureau Veritas Pty Ltd and CCI Holdings Ltd) used for the coal quality analysis comply with Australian Standards for all coal quality tests and are certified by the National Association of Testing Authorities, Australia (NATA).

The geophysical logging company (Geolog Pty Ltd) calibrated all geophysical tools using their standard internal calibration procedures.

Verification of sampling and assaying

The verification of significant intersections by either independent or alternative company personnel.

The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage

(physical and electronic) protocols. Discuss any adjustment to assay data.

The coal quality results were verified in the coal quality database using minimum and maximum limits, standard quality tests and chart analysis. Anomalous values were reviewed and queried to the laboratory and either corrected or excluded from quality results.

Coal quality verification is also undertaken by the laboratory prior to providing the final results – standard industry checks are performed on the results to ensure they comply with known correlations and minimum and maximum values.

Coal quality data is supplied from the laboratory as a PDF and an Microsoft Excel file. The Microsoft Excel file is loaded directly into Minescape’s GDB database which

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undertakes a set of validation checks (minimum and maximum values, proximate and ultimate analysis total checks) prior to allowing the data to be loaded.

Cuesta Coal have also reviewed and verified coal quality results internally using their own checking procedures.

Twinning of holes has occurred on one site with a 4C hole and 2 6C holes. This will allow for the direct correlation of particle sizing and washability data in 4C holes with the large diameter holes.

Location of data points

Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

Specification of the grid system used. Quality and adequacy of topographic control.

Professional survey was undertaken on all drill holes included in the geological model and resource estimate by Cottrell Cameron & Steen (prior to July 2013) and by Wilsons Survey Group (since July 2013).

The grid datum used is GDA 94 and projection MGA 94 Zone 55. Two topographic data sets have been used for the geological model;

i) The primary LIDAR data set is sourced from Cottrell Cameron & Steen and covers the main resource area. The data set is 5m, 1m 0.5m and 0.25m detail.

ii) The second data source is from SRTM (Shuttle Radar Topography Mission) survey. The DEM data is sampled at 3 arc-seconds, which is 1/1200th of a degree of latitude and longitude, or about 90 metres (295 feet). The SRTM data is only used around the fringe of the project area to ensure the model area is completely covered by topography DEM data.

Data spacing and distribution

Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of

geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

Whether sample compositing has been applied.

Drill hole spacing is largely determined by the characteristics and consistency of the following seams (B4, B5, B7, B8, B9). The maximum drill hole spacing within the Measured resource area does not exceed 750 metres and generally ranges between 250-650 metres. The Indicated resource area has a maximum drill spacing of 1,200 metres and the Inferred resource area up to 3000 metres.

Orientation of data in relation to geological structure

Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

The orientation and spacing of the drilling grid is deemed to be suitable to detect geological structures and coal seam continuity within the resource area.

The dominant structural feature for the area is a narrow graben with north-south trending faults that bound the resource.

To delineate the exact location of these bounding faults, chip hole drilling has been used to infill the core hole drilling.

Where it is expected that a fault was intercepted in a hole and a suitable water level is available, an acoustic scanner log was taken to provide detail data on the fault intercept. Intercepts scanned in the recent drill program showed the faults to be dipping inwards towards the centre of the structure at a high angle.

It is recommended that Cuesta undertake a few seismic survey lines perpendicular to the structure to further define the location of these faults.

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Sample security The measures taken to ensure sample security. The sample security was ensured under a chain of custody between Cuesta Coal personnel and the coal laboratories (Preplab Testing Services Pty Ltd, Bureau Veritas Pty Ltd and CCI Holdings Ltd).

Audits or reviews The results of any audits or reviews of sampling techniques and data. Cuesta Coal was responsible for implementing and maintaining the sampling techniques and data.

Preplab Testing Services Pty Ltd, Bureau Veritas Pty Ltd and CCI Holdings Ltd undertake internal audits to ensure analytical results are reporting precisely and accurately.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)


Mineral tenement and land tenure status

Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

Cuesta Coal hold three Exploration Permits for Coal (EPC) that cover the Moorlands Project area.

Tenure Type

Tenure No. Date

Lodged Area

(Hectares) No. of Sub-

Blocks

Holder Name

EPC 775 24-Jan-

2002 2,845 9

Hannigan & Associates

Pty Ltd

EPC 776 07-Feb-

2002 2,529 8

Hannigan & Associates

Pty Ltd

EPC 1738 22-Apr-

2009 13,266 42

BlackwoodCoal Pty

Ltd

The Blair Athol State Forest zone exists in the central area of the Moorlands Project. A land swap agreement will be in place between the Queensland government and Cuesta

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Coal. There are no other known impediments to mining in the area.

Exploration done by other parties

Acknowledgment and appraisal of exploration by other parties. Deposit first discovered in the 1960’s when the Queensland Geological Survey observed Permian sediments during field mapping.

The Moorlands Basin and immediate surrounding areas were also previously explored by Utah under licence AP885M during part of their mineral exploration program in the early 1970s.

Pacific Coal Pty Ltd (now Rio Tinto) drilled a series of holes at two sites near the northern extremity of the basin in early 1979, both containing reasonable coal intersections.

Ladnote Pty Ltd also conducted exploration in the area under licence AP3409M from 1983 – 1985. A gravity survey consisting of several widely spaced traverse lines was conducted and successfully detected the initial boundaries of the Moorlands Basin.

The Queensland Department of mines further delineated the basin in during 1985 – 1986 when it drilled 15 fully-cored holes (2,208 metres in total). All holes were terminated in the pre-Permian basement and were geophysically logged (not all holes in coal bearing zone).

In 1995, a number of holes were drilled by CRA Exploration Pty Ltd (now Rio Tinto Exploration Pty Ltd) in the north of the basin under EPC 524, although the principal focus of the exploration was the Bendemeer Basin to the north.

The Bendemeer Basin which lies north of the Moorlands Basin was discovered by Pacific Coal via drilling programs between 1994 and 1995. Pacific Coal completed 15 rotary open holes and one part-cored hole in the Bendemeer Basin for an aggregate of 3,211 metres (EPC 524).

A subsequent exploration program in 1996 by CRA/Rio Tinto Exploration saw the completion of 37 holes including three cored holes for an aggregate 5123.9 metres on EPC 524.

Hannigan & Associates drilled 31 open holes and two partially cored 100mm quality holes in the Bendemeer Basin (EPCs 775 and 776) during 2012. Coal quality analysis was performed on the two partial cored quality holes.

All exploration programs have greatly aided the exploration activities of Cuesta Coal providing solid background data to base their exploration planning upon.

Geology Deposit type, geological setting and style of mineralisation. The Moorlands Project is contained within the Bendemeer/Moorlands basin located to the west of the Bowen Basin.

Cuesta Coal has linked the Bendemeer and Moorlands Basins as one basin structurally bound in a half graben. The linked basins are now referred to as the Moorlands project by the company.

These basins are described as outliers of coal bearing Permian sediments to the Bowen Basin. They host a thermal low to moderate ash thermal coal containing low to

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moderate sulphur. The basins are a typical synclinal structure containing coal bearing strata down from 40

– 400 metres. The stratigraphy within the project area is characterised by a Tertiary cover composed

of alluvial sediments and silcrete, underlain by claystones and lithic sandstones. The Mid to Late Permian aged Birimgan Formation unconformably underlies the Tertiary sediments. The Birimgan Formation consists of mostly fine to medium grained, labile to sub-labile sandstone with interbeds of mudstone, siltstone and up to 13 main coal seams. The Birimgan Formation unconformably overlies the Anakie Metamorphics which are comprised of phyllite, schist, quartzite and metabasic volcanics which form the basement of the Moorlands and Bendemeer basins.

The coal seams occur in 13 main groups in the Moorlands Project area, B1, B2, B3, B4, B5, B6, B7, B8, B9, B10, B11, B12 & B13.

Only the B3, B4, B5, B7, B8, B9, B11, B12 & B13 seam groups have been considered in the Resource Estimate. These seam groups have an average cumulative thickness of 23 metres.

Drill hole Information

A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill

hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.

If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

A listing of all drill holes used in the Resource Estimate is detailed in Appendix 2. All drillholes have been modelled with verticality data where available. Those drill holes

with no available verticality data have been modelled as vertical.

Data aggregation methods

In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.

Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

The assumptions used for any reporting of metal equivalent values should be clearly stated.

All coal quality information (raw and product) has been composited into a single quality value where originally multiple samples existed. The compositing was performed in Ventyx’s Minescape software (version 5.8) where each coal quality value was weighted by both in situ relative density and thickness (except in situ relative density which was only weighted by thickness).

Composited samples weight averaged overlapping samples for seams. No minimum sample thickness cut-offs were applied as all seams contained samples of greater than 95% recovery.

Relationship between mineralisation

These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its

nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear

The Moorlands Project drill hole data demonstrates strong lateral continuity with holes being spaced generally 200 – 1000 metres apart.

The major seams used in the resource estimate contained consistent geophysical signatures and seam thickness tended to show limited variation.

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widths and intercept lengths

statement to this effect (eg ‘down hole length, true width not known’). The drill hole data can confidently be extrapolated to a maximum of 1,500 metres. Extrapolation has been limited to 150 metres on the western and eastern margins of the deposit where faulting has obviously displaced the coal sequence.

Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

All relevant diagrams are contained within the body of the Moorlands Project – Geology & Resource Report – January 2014.

Balanced reporting

Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

All exploration results within the Moorlands Project area have been fully collated and reported.

Other substantive exploration data

Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

Environmental monitoring studies as part of the Moorlands Environmental Management Plan were completed simultaneously to the 2013 exploration activities.

Further work The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

A 2D seismic survey is also planned to assist in the accurate determination of the basin structure, especially the western and eastern margin limits as defined by faulting.

A Feasibility Study for the project has commenced.

Section 3 Estimation and Reporting of Mineral Resources (Criteria listed in section 1, and where relevant in section 2, also apply to this section.)


Database integrity

Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes.

Data validation procedures used.

Cuesta Coal uses LogCheck version 6.125 in the field for data storage. Drill hole data is also validated by Cuesta’s in-house resource geologist after loading

data into Ventyx’s Minescape software, version 5.8. The Minescape Geological Database (GDB) is used for further validation using SQL

queries and in built validation checks.

Site visits Comment on any site visits undertaken by the Competent Person and the outcome of those visits.

If no site visits have been undertaken indicate why this is the case.

Numerous site visits have been undertaken by the competent person. Most of the Exploration activities conducted by Cuesta have been completed under his supervision.

All sampling and analytical procedures were developed by or approved by the competent person before use.

The competent person has a detailed knowledge of all of the exploration completed by

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Cuesta and is satisfied that this work is of a very high standard.

Geological interpretation

Confidence in (or conversely, the uncertainty of ) the geological interpretation of the mineral deposit.

Nature of the data used and of any assumptions made. The effect, if any, of alternative interpretations on Mineral Resource estimation. The use of geology in guiding and controlling Mineral Resource estimation. The factors affecting continuity both of grade and geology.

The drill hole density in the Moorlands Project area allows a high level of confidence in the nature of the seam thickness and quality consistency and interpreted location of faults.

The seam thickness at Moorlands and coal quality analysis indicates a high constancy between holes in the north-south direction. Uncertainty increases in the in the east–west direction due to the location of the bounding faults. This affects certainty of the coal quantity in the region located near these faults. As a result, the measured resource category will not be used in the immediate vicinity of the bounding faults unless there is a quality or structural point of observation immediately nearby.

The 2014 Australian Guidelines for the Estimation and Classification of Coal Resources suggest that in structurally controlled resources such as this, structural points of observation can be of nearly the same importance as quality points of observation. In this report, structural points of observation are given a near quality point of observation status in the east- west direction, particularly when near faulting. They are given less importance in the north-south direction where the spatial distribution of quality points of observation primarily defined the confidence interval.

The bounding faults are interpreted to be either vertical or at a very high angle. This is due to some acoustic scanner data and closely spaced chip holes showing a near vertical-normal fault displacement.

Dimensions The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.

The main target Bendemeer Seams (B4, B5, B7, B8, B9) extend approximately 11 kilometres along strike and 350 metres - 1 km perpendicular to strike with an approximate average combined thickness of 23 metres.

The depth of cover to the B4 seam ranges from 60 metres in the north and south to 240 metres in the centre of the syncline.

The depth of cover to the B9 seam ranges from 25 metres in the north and south to 330 metres in the centre of the syncline.

Estimation and modelling techniques

The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used.

The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data.

The assumptions made regarding recovery of by-products. Estimation of deleterious elements or other non-grade variables of economic

significance (eg sulphur for acid mine drainage characterisation). In the case of block model interpolation, the block size in relation to the average

The geological model and resource estimate were constructed using Ventyx Minescape software (version 5.8) using the Finite Element Method (FEM) interpolator with 1, 1, 0 parameters for the thickness, surface and trend, respectively.

A minimum seam thickness of 0.3 metres was applied to the resource estimate. No minimum split separation has been applied to the geological model. A grid cell size of 25 metres was used for the geological model with no grid rotation

applied. A maximum extrapolation distance of 1,500 metres from a data point was used. A lidar topography model was used to limit the upper sequence in the geological model. The seams were limited in the weathered zone in geological model by the base of

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sample spacing and the search employed. Any assumptions behind modelling of selective mining units. Any assumptions about correlation between variables. Description of how the geological interpretation was used to control the resource

estimates. Discussion of basis for using or not using grade cutting or capping. The process of validation, the checking process used, the comparison of model data to

drill hole data, and use of reconciliation data if available.

weathering as logged in drill holes by the field geologists.

Moisture Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.

Tonnages are estimated as in situ using the Preston Sanders in situ density estimation method using air dried moisture and air dried relative density laboratory values.

Based on results from coal quality testing an in situ moisture of 16% has been estimated.

Cut-off parameters

The basis of the adopted cut-off grade(s) or quality parameters applied. A raw ash cut off of 50% (air dried) has been applied to the deposit. In general the majority of the seams contain an air dried raw ash of less than 25%. The B4U seam was excluded from previous resource reports due to its high ash

content. Recorrleation of this seam led to the exclusion of the high ash roof in the south pit area. This seam is now included in the resource calculations and easily meets the ash cutoff.

The B3 seam is also included in this report despite being included in previous reports. The seam meets the maximum ash cutoff of 50% and is located stratigraphically above the higher value seams of the resource. It is therefore the opinion of the competent person that this seam can be considered resource.

Mining factors or assumptions

Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.

A minimum seam thickness cut-off of 0.3 metres is used. It is deemed that this thickness cut-off is in line with current open cut mining minimum seam thickness limits.

A minimum separable thickness of 0.3m has been used for in seam partings. If the high ash parting is less than 0.3m thick, it is included in the seam to reflect the likely open cut mining method.

Metallurgical factors or assumptions

The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.

Cuesta Coal has determined in conjunction with the testing laboratory Preplab Pty Ltd that an average raw ash thermal product of 13% is the target product. The majority of samples washed to date have easily achieved the 13% ash product (on average 10.4% ash product).

Coal quality analysis completed indicates that likely product is to be export thermal quality coal with an ash of 13% or less.

Environmen-tal factors or

Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for

It is the competent person’s opinion that there are no limiting environmental factors at this stage of the project development except the Blair Athol State Forest which Cuesta

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assumptions eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.

should be able to manage through land swap agreements.

Bulk density Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.

The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit.

Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.

In situ relative density estimation – the in situ relative density of the coal has been estimated using the Preston Sanders in situ relative density estimation equation.

Samples with raw ash (air dried basis) were assigned an in situ moisture of 16% based on knowledge of other deposits and the inherent and total moistures reported in the Moorlands Project.

Classification The basis for the classification of the Mineral Resources into varying confidence categories.

Whether appropriate account has been taken of all relevant factors (ie relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data).

Whether the result appropriately reflects the Competent Person’s view of the deposit.

In total three resource categories have been identified in the Moorlands Project area dependent on the level of confidence in the seam structure and continuity plus the level of variability in the coal quality data.

The confidence interval distances are greatly reduced in the east- west direction when near the resource bounding faults. In the proximity of the faults, structural points of observation (PoB) are given the same importance as quality PoB.

In the north south direction, statistical confidence in the continuity of the critical parameters thickness, ash and energy is very high. In this direction the maximum distances from quality PoB are as follows: Measured – 750 m Indicated – 1500 m Inferred – 3000 m.

Audits or reviews The results of any audits or reviews of Mineral Resource estimates. There have been no audits to date undertaken on the Resource Estimate.

Discussion of relative accuracy/ confidence

Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate.

The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.

These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.

Cuesta Coal have assigned three levels of confidence to the coal Resource Estimate depending on the seam and drill hole spacing as detailed in the previous section ‘ Resource Classification’.

Factors that could affect the accuracy of the resource estimate include unknown structures between completed drill holes, seam wash outs in roof or inseam stone bands thickening. No evidence currently exists at this point in time for these to occur. The increased drill spacing, including drilling in some areas where no drilling had occurred previously, has greatly reduced the risk of such structures that may have existed previously.

A 2D seismic study is planned by Cuesta Coal which should assist in providing further confidence in the structure of the deposit.

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Appendix 2: Drill Hole Data Summary for the Moorlands Project

Hole Name Hole Type

Datum Projection Easting (m) Northing (m) Elevation (m) Total Depth

(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)

Geophysical Tools Used on Drill Hole

BB=Bendemeer Basin Hole (CRA Exploration, HB=Hannigan & Associates Borehole, ML=Moorlands Borehole (Cuesta), P=Pacific Coal, RU=Queensland Government Borehole; 775=EPC 775, 776=EPC 776, 1738=EPC 1738; C=Caliper, D=Density, G=Gamma, P=Neutron, R=Resistivity, S=Sonic, T=Temperature

BB001R Chip GDA 94 Zone 55 544,836.01 7,504,084.97 319.03 80 776 Yes No BB002R Chip GDA 94 Zone 55 544,899.56 7,502,862.08 327.45 48 776 Yes No BB003R Chip GDA 94 Zone 55 543,370.20 7,500,458.90 347.91 40 1738 Yes No BB004R Chip GDA 94 Zone 55 544,467.00 7,500,277.00 344.37 367 1738 Yes Yes CDG

BB005R Chip GDA 94 Zone 55 543,279.69 7,501,557.35 341.94 55 776 Yes No BB006R Chip GDA 94 Zone 55 543,905.46 7,500,367.57 336.68 400 1738 Yes Yes CDG

BB007R Chip GDA 94 Zone 55 543,816.00 7,502,664.00 329 234 1738 No No CDG

BB008R Chip GDA 94 Zone 55 545,267.89 7,505,872.12 312.04 121 775 Yes No BB009R Chip GDA 94 Zone 55 543,054.39 7,502,952.64 341.22 49 776 Yes No BB010R Chip GDA 94 Zone 55 543,621.03 7,504,181.54 336.15 300 776 Yes Yes CDG

BB011R Chip GDA 94 Zone 55 542,448.01 7,505,327.81 314.16 49 775 Yes No BB012R Chip GDA 94 Zone 55 543,230.79 7,510,403.25 302.26 34 776 Yes No BB013R Chip GDA 94 Zone 55 542,074.19 7,506,046.12 306.96 26 775 Yes No BB014C Core GDA 94 Zone 55 544,717.76 7,510,085.48 308.39 157 775 Yes Yes 100 CDG

BB015R Chip GDA 94 Zone 55 542,776.35 7,506,178.56 307.18 409 775 Yes No BB016L Core GDA 94 Zone 55 544,519.50 7,508,402.03 315.15 108 775 Yes Yes 200 CDG

BB017R Chip GDA 94 Zone 55 542,201.39 7,507,853.71 298.72 54 775 Yes No BB018R Chip GDA 94 Zone 55 545,311.36 7,504,703.52 312.82 61 775 Yes No BB019R Chip GDA 94 Zone 55 541,424.77 7,509,004.05 306.61 56 775 Yes No BB020R Chip GDA 94 Zone 55 545,913.37 7,508,109.90 312.31 97 775 Yes No BB021R Chip GDA 94 Zone 55 543,037.00 7,507,467.00 300 186 775 No No CDG

BB023R Chip GDA 94 Zone 55 546,772.00 7,506,379.00 304.9 60 Outside Yes No

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Hole Name Hole Type


(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)


BB024R Chip GDA 94 Zone 55 544,109.38 7,511,514.70 297.54 39 776 Yes No BB025R Chip GDA 94 Zone 55 544,261.45 7,507,272.62 321.23 324 775 Yes Yes CDG

BB026L Core GDA 94 Zone 55 543,819.00 7,502,664.00 329 100 776 Yes Yes 200 CDG

BB027R Chip GDA 94 Zone 55 544,039.16 7,506,158.10 327.33 348 775 Yes Yes CDG

BB028R Chip GDA 94 Zone 55 545,164.55 7,507,084.04 321.2 187 775 Yes No BB029R Chip GDA 94 Zone 55 542,939.28 7,508,555.28 297.38 457 775 Yes No BB030R Chip GDA 94 Zone 55 545,127.53 7,510,861.11 309.5 313 776 Yes No BB031R Chip GDA 94 Zone 55 545,535.00 7,513,698.00 277 35 776 Yes No

BB033R Chip GDA 94 Zone 55 544,098.00 7,512,896.00 283 24 776 Yes No


BB037R Chip GDA 94 Zone 55 546,173.31 7,510,291.01 295.79 81 776 Yes No

BB080R Chip GDA 94 Zone 55 544,523.00 7,508,404.00 315 331 775 Yes Yes CDG




BB095R Chip GDA 94 Zone 55 543,895.00 7,501,607.00 342 282 776 No No CDG

BB096C Core GDA 94 Zone 55 543,896.00 7,501,614.00 342 186.92 776 Yes Yes 100 CDG








BB121R Chip GDA 94 Zone 55 543,054.00 7,504,597.00 327.5 174 1738 No No CDG



CL026 Chip GDA 94 Zone 55 543,856.00 7,493,286.00 409.38 188 1738 Yes No

HB001 Chip GDA 94 Zone 55 544,668.00 7,511,254.00 305 75 775 Yes No

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Hole Name Hole Type


(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)


HB002 Chip GDA 94 Zone 55 544,720.44 7,508,386.96 318.34 138 775 Yes Yes CDG





HB007 Chip GDA 94 Zone 55 543,910.15 7,508,505.39 309.52 153.94 775 Yes Yes CDG








HB016 Chip GDA 94 Zone 55 544,346.95 7,508,976.00 309.6 67.43 775 Yes Yes CDG

HB017C Core GDA 94 Zone 55 544,649.17 7,509,018.35 313.37 84 775 Yes Yes 100 CDG



HB020 Chip GDA 94 Zone 55 544,539.71 7,507,870.40 319.41 84 775 Yes No




HB023RC Core GDA 94 Zone 55 543,264.00 7,508,551.00 311 72 776 Yes Yes 100 CDGT

HB023R Chip GDA 94 Zone 55 543,254.78 7,508,546.32 300.72 187 775 Yes Yes CDGTRSP


HB025 Chip GDA 94 Zone 55 544,317.00 7,501,503.00 342 36 775 Yes No


HB027 Chip GDA 94 Zone 55 543,613.31 7,507,672.66 302.31 210 775 No No

HB028 Chip GDA 94 Zone 55 544,110.32 7,507,583.24 314.29 132 775 No No

HB028R Chip GDA 94 Zone 55 544,104.30 7,507,573.22 314.29 210 775 Yes No

HB029C Core GDA 94 Zone 55 544,112.60 7,507,570.54 314.29 188.84 775 Yes Yes 100 CDGT

HB030 Chip GDA 94 Zone 55 544,527.47 7,507,481.30 322.13 162 775 Yes Yes CDGT

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Hole Name Hole Type


(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)





ML0001 Chip GDA 94 Zone 55 544,549.19 7,500,224.07 340.47 260 1738 Yes Yes CDGT

ML0002 Chip GDA 94 Zone 55 544,051.64 7,500,314.98 339 164 1738 No No CDGT

ML0003 Chip GDA 94 Zone 55 543,567.14 7,500,400.73 342.01 30 1738 Yes No

ML0003WB Chip GDA 94 Zone 55 543,580.00 7,500,391.00 350 36 1738 No No

ML0003WBR Chip GDA 94 Zone 55 543,581.27 7,500,389.41 341.48 120 1738 Yes Yes CDG




ML0007 Chip GDA 94 Zone 55 543,481.16 7,494,324.96 434.9 80 1738 No No






ML0013 Chip GDA 94 Zone 55 543,717.16 7,500,378.72 336.31 43 1738 Yes No


ML0015 Chip GDA 94 Zone 55 543,724.07 7,500,377.13 336.08 73 1738 No No CDGT


ML0017 Chip GDA 94 Zone 55 543,617.00 7,497,002.00 399 0.5 1738 No No






ML0022C Core GDA 94 Zone 55 544,394.60 7,500,053.18 346.94 91.41 1738 Yes Yes 100 CDG


ML0023C Core GDA 94 Zone 55 544,074.29 7,500,055.79 348.8 109 1738 Yes Yes 100 CDG


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Hole Name Hole Type


(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)


ML0025 Chip GDA 94 Zone 55 543,862.00 7,499,756.00 355 24 1738 No No






ML0030WB Chip GDA 94 Zone 55 543,820.22 7,499,089.75 356.98 150 1738 Yes Yes CDGTR

ML0031 Chip GDA 94 Zone 55 544,186.68 7,498,882.97 352.15 149.99 1738 Yes Yes CDGT

ML0032 Chip GDA 94 Zone 55 544,513.53 7,498,957.49 345.56 149.99 1738 Yes Yes CDGT


ML0034C Core GDA 94 Zone 55 544,289.46 7,500,276.86 343.26 108 1738 Yes Yes 100 CDGT


ML0036C Core GDA 94 Zone 55 544,505.17 7,500,114.47 342.74 132.1 1738 Yes Yes 100 CDGT


ML0038C Core GDA 94 Zone 55 544,247.60 7,499,362.97 356.18 72.37 1738 Yes Yes 100 CDGT







ML0045 Chip GDA 94 Zone 55 544,068.39 7,500,638.51 334.52 126 1738 Yes Yes CDG

ML0045C Core GDA 94 Zone 55 544,075.51 7,500,633.21 334.37 126 1738 Yes Yes 100 CDGTR

ML0046 Chip GDA 94 Zone 55 544,238.99 7,500,632.70 332.01 114 1738 Yes Yes CDGTRSP

ML0046C Core GDA 94 Zone 55 544,246.50 7,500,633.10 332.08 115 1738 Yes Yes 100 CDGTR

ML0047 Chip GDA 94 Zone 55 544,027.12 7,501,064.92 342.3 162 776 Yes Yes CDGTR

ML0047C Core GDA 94 Zone 55 544,018.16 7,501,065.86 342.19 162.04 776 Yes Yes 100 CDGTR


ML0048R Chip GDA 94 Zone 55 544,209.76 7,501,069.94 343.84 174 776 Yes Yes CDG


ML0049C Core GDA 94 Zone 55 543,815.27 7,501,631.69 342.7 203.94 776 Yes Yes 100 CDGTR

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Hole Name Hole Type


(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)




ML0052WB Chip GDA 94 Zone 55 544,011.33 7,502,030.88 336.96 156 776 Yes Yes CDG


ML0053C Core GDA 94 Zone 55 543,728.66 7,502,938.22 331.81 180.54 776 Yes Yes 100 CDG

ML0053R Chip GDA 94 Zone 55 543,729.21 7,502,946.28 331.85 216 776 Yes Yes CDGTR










ML0063 Chip GDA 94 Zone 55 543,634.00 7,503,816.00 337 186 775 Yes Yes CDG









ML0072 Chip GDA 94 Zone 55 543,199.32 7,508,060.57 297.82 235 775 Yes Yes CDGTRP


ML0073R Chip GDA 94 Zone 55 543,446.07 7,508,043.03 300.26 118 775 No No

ML0073RR Chip GDA 94 Zone 55 543,466.00 7,508,013.00 274 24 775 No No

ML0073RRR Chip GDA 94 Zone 55 543,449.31 7,508,043.32 300.35 245 775 Yes Yes CDGTRSP


ML0074C Core GDA 94 Zone 55 543,827.00 7,508,012.00 306.87 252 776 Yes Yes 100 CDG

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Hole Name Hole Type


(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)





ML0076C Core GDA 94 Zone 55 543,674.81 7,508,509.83 307.61 221.66 775 Yes Yes 100 CDGTRS



ML0078C Core GDA 94 Zone 55 544,071.20 7,509,033.59 305.64 175 775 Yes Yes 100 CDGTRS



ML0080C Core GDA 94 Zone 55 544,330.45 7,509,549.17 309.91 144 775 Yes Yes 100 CDGTRS


P1R Chip GDA 94 Zone 55 543,895.00 7,498,806.00 363 300 1738 No No

P2C Core GDA 94 Zone 55 543,906.00 7,498,804.00 363 98.21 1738 No Yes 100

P3R Chip GDA 94 Zone 55 543,582.00 7,498,958.00 356.45 135 1738 Yes No

P4C Core GDA 94 Zone 55 543,903.00 7,498,795.00 363 100.2 1738 Yes Yes 100

RU1 Chip GDA 94 Zone 55 544,204.00 7,498,697.00 354.12 322.2 1738 Yes No

RU10 Chip GDA 94 Zone 55 544,175.00 7,496,118.00 411 71 1738 Yes No

RU11 Chip GDA 94 Zone 55 543,247.00 7,497,475.00 371 131.91 1738 Yes No

RU12 Chip GDA 94 Zone 55 544,618.00 7,498,863.00 353 158.91 1738 No No

RU13R Chip GDA 94 Zone 55 544,618.00 7,498,863.00 352.66 234.45 1738 Yes No




RU4 Chip GDA 94 Zone 55 542,965.00 7,499,285.00 351 35.49 1738 No No


RU6R Chip GDA 94 Zone 55 543,415.00 7,498,353.00 368 65.84 1738 No No




HB23RC Core GDA 94 Zone 55 543,264.00 7,508,551.00 311 198 776 Yes Yes 100 CDG

ML058C Core GDA 94 Zone 55 543,239.00 7,505,112.00 348 300 776 Yes Yes 100 CDG

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Hole Name Hole Type


(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)



ML060CR Core GDA 94 Zone 55 543,550.00 7,505,908.00 337 276 776 Yes Yes 100 CDG

ML081GT Core GDA 94 Zone 55 544,226.00 7,499,301.00 380 72.01 1738 Yes Yes 85 CDGTRS

ML082GT Core GDA 94 Zone 55 544,348.00 7,499,730.00 333 83.79 1738 Yes Yes 85 CDGTRS

ML083GT Core GDA 94 Zone 55 544,428.00 7,500,212.00 349 150 1738 Yes Yes 85 CDGTRS

ML084GT Core GDA 94 Zone 55 542,934.00 7,500,292.00 332 180 1738 Yes Yes 85 CDG


ML086 Chip GDA 94 Zone 55 5,444,402.00 7,499,515.00 366 66 1738 No No CDG

ML087 Chip GDA 94 Zone 55 544,095.00 7,499,291.00 380 72 1738 No No CDG







ML094 Chip GDA 94 Zone 55 543,959.00 7,500,097.00 356 150 1738 Yes No CDGTRS








ML086C Core GDA 94 Zone 55 544,403.00 7,499,506.00 364 66.48 1738 Yes Yes 100 CDG

ML086CR Core GDA 94 Zone 55 544,398.00 7,499,500.00 370 66 1738 Yes Yes 100 CDG




ML062WBR Chip GDA 94 Zone 55 543,813.00 7,506,171.00 338 180 775 No No CDG

ML062WBRR Chip GDA 94 Zone 55 543,774.00 7,506,179.00 351 84 775 No No


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Hole Name Hole Type


(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)


ML068WBR Chip GDA 94 Zone 55 544,193.00 7,506,968.00 337 108 775 No No



ML0103 Chip GDA 94 Zone 55 544,412.00 7,500,441.00 367 198 1738 Yes No CDG

WB009 Chip GDA 94 Zone 55 542,781.00 7,520,453.00 325 102 1891 No No



MLW001 Chip GDA 94 Zone 55 540,023.00 7,501,464.00 346 60 1738 No No CDG









ML0112 Chip GDA 94 Zone 55 543,482.00 7,502,277.00 346 204 776 Yes Yes CDGTRS

ML0113 Chip GDA 94 Zone 55 9,543,533.00 7,501,520.00 357 55 776 Yes No CDG



ML0116 Chip GDA 94 Zone 55 543,653.00 7,501,865.00 346 222 776 Yes Yes CDGTRS


ML0118 Chip GDA 94 Zone 55 543,441.00 7,501,852.00 339 13 776 Yes Yes

ML0118R Chip GDA 94 Zone 55 543,437.00 7,501,849.00 343 37 776 Yes Yes CDG

ML0109C Core GDA 94 Zone 55 543,719.00 7,502,070.00 328 77.09 776 Yes Yes 100

ML0110GT Core GDA 94 Zone 55 543,696.00 7,502,493.00 313 98.23 776 Yes Yes 100




ML003GT Core GDA 94 Zone 55 543,573.13 7,500,396.81 341.696 73.71 776 Yes Yes 100 CDGTRS

ML0023LD Core GDA 94 Zone 55 544,072.00 7,500,061.00 361 109 1738 Yes Yes 150

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Hole Name Hole Type


(m) Lease ‐ EPC

Geological Model

JORC POB

Core Diameter (mm)


ML023LD2 Core GDA 94 Zone 55 544,078.00 7,500,055.00 284 99.2 1738 No No 150

ML095GT Core GDA 94 Zone 55 544,096.00 7,500,108.00 367 19.15 1738 Yes Yes 100

ML095GTR Core GDA 94 Zone 55 544,106.00 7,500,106.00 356 107.84 1738 Yes Yes 100 CDGTRS

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cuesta’s flagship moorlands thermal coal project ... a stratigraphic model generated in minescape...

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