Tiaro Coal has entered a partnership with Hancock Prospecting for the company’s
EPC 1262 exploration permit which has the potential to host a Blair Athol-style
deposit.
EPC 1262 is located about 30 kilometres from the Blair Athol Mine, operated by Rio Tinto subsidiary Queensland Coal, to the west of the Bowen Basin.
Exploration at EPC 1262 is aimed at discovering a deposit similar to that present at Blair Athol, with two areas of interest already identified in the 654 square kilometre block. The tenement remains largely unexplored.
Importantly, EPC 1262 is located in close proximity to infrastructure, in particular rail.
Under the terms of the agreement, Hancock Prospecting subsidiary Queensland Coal Investments can earn up to a 51% interest in the permit by sole funding up to AUD 3 million of exploration expenditure.
The first 25% interest is earnable through the staged development and expenditure of AUD 1.5 million while the remaining 26% can be earned through a further AUD 1.5 million expenditure.
Tiaro holds a 50% interest in the EPC 1262 tenement, with the remaining 50% held by Bundaberg Coal.
Source - www.proactiveinvestors.com.au
(www.steelguru.com)
EPC 1262 is located about 30 kilometres from the Blair Athol Mine, operated by Rio Tinto subsidiary Queensland Coal, to the west of the Bowen Basin.
Exploration at EPC 1262 is aimed at discovering a deposit similar to that present at Blair Athol, with two areas of interest already identified in the 654 square kilometre block. The tenement remains largely unexplored.
Importantly, EPC 1262 is located in close proximity to infrastructure, in particular rail.
Under the terms of the agreement, Hancock Prospecting subsidiary Queensland Coal Investments can earn up to a 51% interest in the permit by sole funding up to AUD 3 million of exploration expenditure.
The first 25% interest is earnable through the staged development and expenditure of AUD 1.5 million while the remaining 26% can be earned through a further AUD 1.5 million expenditure.
Tiaro holds a 50% interest in the EPC 1262 tenement, with the remaining 50% held by Bundaberg Coal.
Source - www.proactiveinvestors.com.au
(www.steelguru.com)
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