13/10/2008 - 11:56

A1 discovers coal at Narnoo

13/10/2008 - 11:56

Bookmark

Save articles for future reference.

Osborne Park-based A1 Minerals Ltd has discovered coal at its Narnoo project in the north eastern Goldfields, which is already prospective for other minerals including gold, nickel and uranium.

Osborne Park-based A1 Minerals Ltd has discovered coal at its Narnoo project in the north eastern Goldfields, which is already prospective for other minerals including gold, nickel and uranium.

The company said recent aircore drilling by joint venture partner Oklo Uranium Ltd had intersected nine metres and 14m of a coal known as lignite.

Other holes drilled as part of the program were said to be too shallow to intersect the coal bearing strata.

"A1 Minerals believes this to be a significant discovery, noting the lack of power generation facilities in central-eastern Western Australia where a number of nickel and gold discoveries have been made in recent years," A1 said.

Oklo is earning a 70 per cent interest in the uranium rights at Narnoo while A1 retains 100 per cent ownership of all other metals.

Shares in A1 were unchanged at 8.1c while shares in Oklo were steady at 5c at 14:56 AEST.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options