The company said it planned to commence drilling at the tenement as soon as weather permitted, with a detailed drilling program already in place.
An independent assessment on the tenement, conducted last year by the Moultrie group, found it was prospective for coking coal.
International Coal said the conclusion of compensation agreements would provide the company with the desired access it required.
“Management are delighted with the assistance and cooperation landholders have extended to us during this period of planning and negotiation,” the company said.
It recently completed due diligence on an acquisition of Queensland coking and thermal coal assets surrounding Anglo American’s Callide open pit thermal coal mine and lying 120km from the port of Gladstone.
International Coal is undertaking a drilling program at its South Blackall project in central Queensland with the aim of defining a maiden resource for the project.
