Realm Resources Ltd. has defined an initial resource and reserve for its 70%-owned Foxleigh coal mine in Queensland, Australia.
According to a Dec. 20 press release, the resource amounts to 82.3 million tonnes, of which 33.3 million tonnes is in the measured category, and the reserve stands at 52.7 million tonnes. Marketable coal reserves are estimated to total 39.2 million tonnes.
The maiden resource and reserve follows recent drilling and updated geological models on the Foxleigh Plains and One Tree/Pipeline areas.
The other stakeholders in the Foxleigh mine are POSCO with a 20% interest and Nippon Steel & Sumitomo Metal Corp., which owns the remaining 10%.