Queensland Unlocks More Land for Resource Exploration

Queensland Unlocks More Land for Resource Exploration

More land has been unlocked in Queensland, Australia, to be explored in a hunt for potential future resource projects.

More land has been unlocked in Queensland, Australia, to be explored in a hunt for potential future resource projects.

On Friday (February 1), the Minister for Natural Resources, Mines and Energy Anthony Lynham announced the recipients of mineral and coal tenders in the North West Minerals Province and the Bowen and Surat basins.

This included junior explorer Red Metal (ASX:RDM), which now has access to 400 square kilometers of land, located 250 kilometers north of Mount Isa, to explore for new zinc, lead, copper and silver deposits.

“Unlocking land for resource exploration — whether it is to uncover coal, gas or minerals — is vital to continuing resource development, whether it’s for mining jobs or royalties to fund our hospitals and schools,” Lynham said in a statement.

“Exploration is essential for Queensland to keep up with the world’s thirst for tech minerals and our own manufacturing sector’s ongoing need for high-quality base metals. New coal deposits offer energy security and a long term economic future for all Queenslanders.”

Joining Red Metal on the recipient list are Denham Coal, a subsidiary of Pioneer Coal, Queensland Coal Investments, Enex Togara and Wandoan Holdings. These companies will soon have access to 369 square kilometers of land in the Bowen and Surat basins for exploration work.

The fresh tenders come after Queensland broke records in 2018 for hitting $80.5 billion in exports for the 12 months to November. The export growth was driven by coal, liquefied natural gas, minerals and beef, with coal exports having risen by $4 billion to $43 billion.

According to the statement, a new geological report indicates Queensland contains almost double the amount of coal than was last known. The report states 63 billion tonnes of raw coal in-situ are in the Australian state, an increase of approximately 29 billion tonnes on the last estimate. Lynham said this includes over 14 billion tonnes of coking coal.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

Tempus Closes A $1.9 Million Private Placement

Tempus Resources Ltd (“Tempus” or the “Company”) (ASX:TMR)(TSX.V:TMRR) is pleased to announce that it has closed the non-brokered private placement announced on 23 April 2021 (the “Placement

The Placement has been completed utilising the Company’s available capacity under ASX Listing Rules 7.1 and 7.1A. It includes two tranches: Tranche 1, which consists of 6,037,736 ordinary shares issued on 12 May, 2021, as “Canadian flow-through shares” at a price of C$0.155 (approximately A$0.163) per share for proceeds of approximately C$935,849; and Tranche 2, which consists of 6,065,425 ordinary shares issued on 30 April 2021 at a price of A$0.145 (approximately C$0.138) per share for proceeds of approximately A$879,487. The total proceeds from both Tranche 1 and Tranche 2 of the Placement are approximately A$1,866,149 (C$1,770,042). Following the completion of the Placement, the Company has 98,744,613 shares on issue.

Keep reading... Show less

Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Appendix 2A

The announcement can be viewed at:

Keep reading... Show less

Massive Sulfide Nickel Drilling Update

Blackstone Minerals Limited (“Blackstone" or the “Company") is pleased provide an exploration update on its flagship Ta Khoa Nickel-Cu-PGE project, for which assay results have been received from drilling at its Massive Sulfide Vein (MSV) prospects (refer Table 3, Table 4 & Appendix 1).

Keep reading... Show less

Novo Completes Malmsbury Option Exercise with GBM Resources Limited

Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to advise that it has completed its option exercise to earn a 50% interest in the Malmsbury gold project (the “ Malmsbury Project ”) held by ASX-listed GBM Resources Limited (ASX: GBZ) (“ GBM ”) following the satisfaction of all conditions precedent, including receipt of Australian Foreign Investment Review Board approval (refer to the Company’s news releases dated March 30, 2020 September 24, 2020 and January 15, 2021 for further details).

“We are thrilled to complete our option exercise at Malmsbury,” commented Dr. Quinton Hennigh, Chairman and President of Novo. “We see Malmsbury as a Fosterville analogue given its similar position along the eastern margin of the prolific Bendigo Zone, epizonal orogenic setting and historic high-grade gold production. Our geologic team will pursue aggressive field work over the next few months with the goal of developing drill targets for testing later this year.”

Keep reading... Show less

Rare Earth Elements Demand is Still Growing

Rare Earth Elements are 17 silvery-white heavy metals with special magnetic capabilities. REEs have diverse applications and are commonly used in lasers, glass, superconductors, hard drives, wind turbine generators, and magnetic materials. Despite the name, REEs are abundant in the world, often found underground alongside uranium in sand structures called monazite. REEs concentrate must first be separated from the sand. Neodymium and praseodymium (NdPr) represent about 80% of the value of REE concentrate. Demand for these elements is growing because of their use in electric vehicles, wind turbines, and appliances. Adams Intelligence expects the demand for NdPr to double in the next five years. Removing REEs from monazite and then separating REEs into individual components is a complicated process. Read More >>

News Provided by Channelchek via QuoteMedia

Keep reading... Show less

Top News

Related News