EL 28772 Annual report for the period ending 4 November 2012

Abstract

EL 28772 was granted on the 4 November 2011 for a term of 6 years. Queensland Coal Investments Pty Ltd (QCI) is the sole titleholder and the operator of EL 28772. The work and expenditure programme for EL 28772 during its first year of tenure required geological and and geophysical review of existing data and information aimed at determining the location of Permian coals within the Purni Formation specifically, their depth, thickness and lateral continuity and coal quality. No field activities have been undertaken during the first year of the tenure. QCI have utilized the services of geological consulting services companies; Salva Resources Pty Ltd and Global Ore Discovery to acquire, compile, then review the existing data in the EL area as well as more regionally within the Pedirka Basin. This data has included historic seismic, mineral exploration, petroleum wells, water bore records, geology, gravity, topography (SRTM) and magnetic data. This data is readily available in the public domain such as at the NT Geological Survey ('Strike') and Geoscience Australia (GADDs). QCI concludes as a result of these studies that the chances of locating the coal bearing Purni Formation within the EL are limited. However a programme of reconnaissance exploration is being considered which may involve the surveying and shooting of two reconnaissance lines of 2D seismic and the drilling of reconaissamce drill holes along the eastern boundary of the EL to test for the presence of the coal bearing Purni Formation.