Coal seam confirmed at Altona's Westfield tenement
Source - SMW
Altona Energy said it had identified an area within its tenements that appeared to contain significant quantities of coal.
It said a recently commissioned coal study which focused on its Westfield tenement had confirmed a seam of between 3-6m thickness.
The groundwater level is only 10m above the seam in places
At its shallowest, it lies at a depth of approximately 80m (at the most southerly end currently explored) and increases in depth to 215m at the northern end, where the seam has been found to be at its thickest.
The seam is believed to continue running southwest, beyond the edge of the tenement, but no exploration has been conducted in this area to date.
Chief executive Nick Lyth said: 'I am delighted that we have identified an area within our tenements that appears to contain significant quantities of coal at an 80m depth with manageable groundwater.
'Our next step is to develop a detailed exploration strategy to continue to prove up the resource and de-risk this exciting opportunity.
'This represents a major step forward for Altona in delivering value to its shareholders.'