Elixir Power Restricted (“Elixir” or the “Firm”) is happy to announce that it has been appointed as Most popular Tenderer in relation to a brand new exploration space in Queensland: PLR2023-1-7 (see map under). The world lies instantly adjoining to the Firm’s Challenge Grandis within the Taroom Trough.
HIGHLIGHTS
- Elixir has been appointed by the Queensland Authorities as most popular tenderer for PLR2023-1-7
- The licence space is adjoining to Elixir’s Grandis Challenge and is potential for each deep and shallow fuel
Location map of PLR2023-1-7
PLR2023-1-7 covers 526 sq. kilometres and though only one licence is split into 3 separate geographical areas. The North Japanese areas are positioned within the Taroom Trough and are potential for a similar deep fuel performs as encountered in Challenge Grandis. These new areas cowl 152 sq. kilometres and characterize a 14% improve of Elixir’s acreage inside the Taroom Trough, which so far has a 2C contingent useful resource reserving of 1,297 Bcf (per ASX announcement of 29 Might 2024).
The bigger South-Western space, which covers 374 sq. kilometres is potential for each shallow and deep fuel targets.
Elixir will now proceed to acquire an Environmental Authority (EA) and full any required native title course of earlier than being granted the ultimate Authority to Prospect (ATP). This licence is not going to be topic to any home fuel reservation. Elixir will personal a 100% working curiosity within the ATP and would be the Operator.
Technical research have already begun on the entire areas of the licence to deal with points such because the potential addition of contingent and potential sources, drill goal(s) and potential companions as soon as the licence is formally granted.
Elixir’s Managing Director, Mr Neil Younger, stated: “Naturally we’re happy to be acknowledged by the Queensland Authorities as the popular tenderer for a brand new licence space which is very complementary to our present Grandis Fuel Challenge place. That recognition partly no less than acknowledges the great work undertaken by our crew since we’ve entered Queensland two years in the past.”
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