EL 29010 Final and annual report for the period 15 May 2012 to 14 May 2014

Abstract

The rationale for applying for EL 29010 was coal seams intercepted in Permian age Bonaparte Basin Kulshill Group sediments from drilling for coal and petroleum. Desk-top study revealed multiple coal intersections greater than 0.4 metres reported with the greatest net coal thickness from historic drilling of 4 metres. The latter result was coal seams intercepted in drill hole Keep River-1 within EL 29010. Nearest intercepts of coal seams are concentrated northwest and east of the tenement. The exploration target being considered was export quality thermal coal resources amenable to open pit mining. EL 29010 is favourably located 100 kilometres from the deep-water port of Wyndham. The location in Northern Australian offers a competitive advantage for shipping costs compared with thermal coal shipped to Asian destinations from the Port of Newcastle in New South Wales. The work program for the year ending 14 May 2014 was restricted to desktop risk - reward evaluation of EL 29010. The risk - reward balance did not support an application to renew this tenement. EL 29010 was relinquished on 14 May 2014.