NSL QUEENSLAND COAL PROJECTS MOVE TOWARD FORMAL GRANT
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NSL QUEENSLAND COAL PROJECTS MOVE TOWARD FORMAL GRANT
HIGHLIGHTS
Queensland Government advises proposed granting of final three (EPCA’s 2336, 2337, 2338) of four close proximity exploration permits for NSL’s thermal coal tenements.
Dual bulk commodity developer, NSL Consolidated Ltd (NSL or Company), is pleased to announce that the Queensland Government has advised its proposed granting of exploration permits for the final three of the Company’s four thermal coal tenements. The four tenements cover2,585 km² in the Eromanga Basin in southwest Queensland.
The proposed granting applies to the close proximity EPCs 2336, 2337 and 2338. The EPC’s will be advertised in March 2012 with a notification date in April 2012. The Government has previously proposed granting of the first application, EPC 2198, also nearby in October 2011. This process is now well progressed with the formal grant of EPC 2198 expected in the near term.
As previously announced, independent geologists have estimated a combined exploration target of between 6.6 billion and 18.7 billion tonnes1 of thermal coal for the four tenements.
“The Queensland Government is to be congratulated for its expeditious approach to the granting process as it now positions NSL to deliver certainty to our Native Title and land owner negotiations, site access and initial schedules and contracting required to commence first exploration in the field,” NSL’s Managing Director, Mr Cedric Goode, said today.
NSL’s thermal coal holdings are adjacent to similar projects held by East Energy Resources (ASX: EER) and International Coal Limited (ASX: ICX).
Exploration and development of the thermal coal assets in Queensland is in addition to NSL’s development for sales in 1H from its Indian iron ore business.
CONTACT:
Cedric GoodeKevin Skinner
NSL ConsolidatedField Public Relations
0400 408 477(08) 8234 9555 / 0414 822 631
1 It should be noted that the tonnages quoted above are conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.
Competent Persons Statement
Technical information relating to the coal projects in this announcement has been compiled by Mr Mark Biggs, Principal Geologist of Moultrie Database and Modelling. Mr Biggs is a member of the Australasian Institute of Mining and Metallurgy and has over 24 years of experience relevant to the style and type of coal mineralisation under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined by the Australasian Code for Reporting of Minerals Resources and Reserves (JORC) 2004. The estimates of the Coal Exploration Target presented in this Report are considered to be a true reflection of the Coal Exploration Target as at 20th January 2012 and have been carried out in accordance with the principles and guidelines of the Australian Code for Reporting of Coal Resources and Coal Reserves published in September 2004 (JORC Code). Mr Mark Biggs consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.
Leseranfragen:
NSL Consolidated Ltd.
21 Teddington Road,
Burswood, Western Australia,
Australia, 6019
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