MDL518 TALWOOD PROJECT FINAL REPORT FOR PERIOD ENDING 28 SEPTEMBER 2022

URL: https://geoscience.data.qld.gov.au/dataset/cr134218

No field activities were undertaken within MDL518 since grant of the tenement. All field exploration activities were undertaken under the pre-cursor EPC 985. Work focused on the reinterpretation and validation of exploration holes drilled previously (approximately 150 holes). This was followed by geological modelling (both structural and coal quality) to JORC 2012 standards by an external consultant. This resulted in an updated JORC estimate for the Rangal Coal Measures in 2021. The total Coal Resource estimate, as at 1st April 2021, is 148 million tonnes (Mt) of which 58 Mt is classified as Measured Resources, 61 Mt is classified as Indicated Resources and 29 Mt is classified as Inferred Resources. The Aquila board has decided to divest/surrender selected coal tenements of which MDL 518 is one.