Mayur holds a portfolio of contiguous tenements that cover the main coal bearing geology in the Papuan Basin in southern PNG. Although there has been a long history of coal prospecting in the Gulf Province, coal mining has never been developed in PNG, unlike its neighbours in Indonesia and Australia.
The Gulf region includes the outcropping ‘Shu Coal Measures’ (within the coal-bearing Era Beds formation) and is generally low lying and home to some of PNG’s major river systems including the Purari, Vailala and Kikori, that offer potential options for transport and access.
Mayurs vision to develop low impact and low cost coal mining based on simple truck, shovel and barge transportation (similar to what has been successfully developed in regions of neighbouring Indonesia). Potential domestic and international seaborne customers and markets but priority given to Mayur’s Power Generation projects in PNG.
Depot Creek Project
The most advanced deposit in the portfolio is at Depot Creek. Mayur has delineated a JORC Resource of 11Mt (PNG’s first JORC coal resource).
A PFS has been completed and found that the Depot Creek coal could be used for power generation (based on a vertical integration model) at Mayur’s first planned power project to be developed at Lae. The Depot Creek JORC Resource of 11.2 Mt was deemed sufficient (based upon coal tonnage quantity and analysed energy values) for a 52.5MW power station for at least 25 years (25 years at 300,000 tpa = 7.5Mt). The Depot Creek project is located approximately 20km from the Purari River that offers potential for transportation options.
Regional Exploration Target
Within proximity to Depot Creek, a regional Exploration Target of 210 Mt along a total semi-contiguous strike length of over 120km to the southeast and northwest of the Depot Creek deposit across the adjoining tenements, thus offering significant potential to expand the future JORC inventory.
In addition to the above Mayur has located coal outcrops at various points along an 80km strike length from the north west of Depot Creek to the western most point of its tenure.