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International intends to start drilling at the Consuelo Project as soon as landholder negotiations and clearance work are completed this year.
The March quarter saw the grant of the third tenement in the Consuelo project (EPC 2327).
Recent desktop reviews indicated that EPC 2327 had the highest potential for coal at open cut depths of all the Consuelo Project tenements (EPC 2327, 2318, 2332).
The studies uncovered drilling and seismic information that suggested there was potential for coal seams up to 4m thick to occur at 45-100m in the northwest of the tenement.
The company was awarded Category B shareholder status at the Wiggins Island Coal Export Terminal (WICET) as part of its efforts to facilitate timely rail and port access arrangements ahead of development of its Consuelo and Bundaberg projects.
Category B shareholding status will ensure International Coal is considered in future planning activities for WICET as exploration of these projects progresses, Simpson said.
The company continues to research options for the development of its South Blackall project in the Eromanga Basin and remains committed to the commercialisation of this thermal coal asset.
