Permits to extend Waratah resources

TWO new exploration permits have been granted to junior Waratah Coal for areas that border the company's inferred 2.145 billion tonne resources.
Permits to extend Waratah resources Permits to extend Waratah resources Permits to extend Waratah resources Permits to extend Waratah resources Permits to extend Waratah resources

Map showing Waratah Coal's most recently granted EPC 1053 and the 675Mt inferred resource.

Staff Reporter

The Alpha Extended EPC 1079 and Laglan EPC 1080 tenements border the company's existing South Alpha EPC 1040, North Alpha EPC 1053 and Pocky Creek EPC 1039 tenures in Queensland's Galilee Basin.

Waratah recently announced an inferred resource of 1.47Bt of thermal coal in EPC 1040 and 675 million tonnes of thermal coal in EPC 1053 with drilling programs expected in EPC 1039 shortly.

Waratah hopes the new tenements will allow it to track the range of the inferred resources and reveal further resources for the company, which currently holds the most tenures in the Galilee Basin.

Waratah president and chief executive Peter Lynch said the new permits would allow the company to formally begin drilling on the western flank of its Galilee Basin interests.

"The granting of EPC 1079 and EPC 1080 is an important development for Waratah and marks the expansion of drilling activity on the western or down dip flank at our licences in the Galilee Basin," Lynch said.

"Recent work strengthens our confidence that our properties contain a world-class resource of marketable, export-quality thermal coal."

Lynch said that, in conjunction with the drilling program, Waratah would begin examining a range of options for infrastructure to transport the coal.

He said the first priority is to demonstrate the project has sufficient potential to underwrite the necessary rail and port infrastructure.