Liberty Resources (ASX:LBY) would like to announce that the Company after a four year waiting drought, has been granted formal access to a prospective premium coal tenement in Queensland’s Bowen Basin in an area surrounded in the immediate vicinity by world coal majors.
Liberty Resources is planning an early maiden drill campaign to prove up a JORC standard resource at its wholly-owned 30km2 EPC 1949, located about 170 kilometres southwest of Mackay and with BHPB, Rio, Peabody and Vale coal mines and projects as neighbours – some as close as 700 metres.
• Coal exploration permit EPC 1949 granted in the world class Bowen Basin, Queensland
• 100% LBY (ASX:LBY) owned
• EPC 1949 is completely encompassed by coal super majors BHP, Rio Tinto, Peabody and Vale
− BHP’s Daunia Project and Poitrel Mine lie ~700m north and ~2km northwest
− Peabody’s Olive Downs Mining Lease abuts EPC 1949’s eastern boundary
− Vale/Aquila’s Eagle Downs deposit is located approximately 6km west
• Fully funded drilling program to commence as soon as logistics are finalised
• Targeting possible extensions to adjacent shallow, high quality (coking/PCI) coal deposits
• Nearby operating mines, rail (~2km away) and coal infrastructure offer good, low cost, commercialisation potential.
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