The Minyango Project is located immediately to the south of the township of Blackwater in Queensland, Australia and less than 10km from the Cook CHPP. It is a large greenfield coking coal development project which the Company believes is primarily suited to bord and pillar underground mining methods; and a mining lease was granted in 2015. The Minyango Project has the potential to produce similar coking and thermal coal products to Cook Colliery. It is proposed to be a bord and pillar mine.

The Minyango Project is located within the following tenements ML 80173, MDL 465, MDL 375, MDL424, EPC 699 and EPC 997 and is located 5 km south of the township of Blackwater in Central Queensland.

The Cook/Minyango Technical Expert’s Report confirms the estimate of a total of 190 Mt Mineral Resource (JORC 2012) in the following categories for the Minyango Project:
  •    Measured – 6.1Mt
  •    Indicated – 71.8 Mt
  •    Inferred – 112Mt

There are 4 seams within the Rangals coal measures in this area including the Aries, Castor, Pollux and Orion seams. The main targets of exploration are primarily the Aries and Pollux seams. Stratigraphically lower seams such as the Pisces, Vermont, Aquarius, Sagittarius and Taurus seams of the Burngrove Formation have been sporadically intersected however, no quality data exists for these seams, and they are not considered in the resource estimates. The coal seams commonly split and coalesce to form other seams, particularly towards the south where the Castor and Pollux seams combine to form a thicker Gemini Seam.

The Aries, Castor, Pollux and Orion seams are potentially minable with an initial depth to top of coal of 180 metres – 200 metres. There is potential to develop a bord and pillar underground mining operation in several of these seams. Bounty intends to commence a prefeasibility study in 2018 to better define the mining and economic potential of these resources. The total combined Aries seam thickness ranges from 2.25m to 5.5m and averages 2.86m. The Aries seam gradually thins to the north of the Minyango Project area and is only slightly thicker in the south. The thickness of the combined Pollux seam ranges from 0.97 to 5.29m and averages 3.05m.

See locality plan including lease details.