The deeper lignite coal seams within EL 4416, IER's wholly-owned exploration licence, that may not be mined economically, are prospective for huge amounts of biogenic natural gas ('BNG'). A 9-well drilling program during 2007 and 2008 demonstrated the presence of permeable, gas-bearing lignite seams.
In 2010, IER signed a Hosting Agreement with TRUenergy, a major Victorian-based energy company. relates to the assembly of a Commercial Demonstration Plant ('CDP') of IER's Cat-HTR Process at TRUenergy's Yallourn brown coal-fired power station. IER expects that it will complete the construction of the CDP, and have it shipped the Yallourn site, during 2012.
IER has signed a farm-in agreement with Iluka Resources (ASX: ILU) in relation to the mineral sands over EL 4416. Iluka has drilled a total of 78 holes (around 5,000m) and is now analysing the core samples with a view of narrowing the exploration targets. Metallica Minerals (ASX: MLM) has identified two significant heavy mineral sands ('HMS') deposits over 9 exploration licences that lie immediately north of EL 4416 and ELA 4968.
Licella Pty Ltd, a wholly-owned subsidiary of Ignite Energy Resources, has developed a modified Cat-HTR Process that transforms biomass into a Bio-Crude Oil, which can be refined into an array of sustainable fuels and chemicals. In principle, any biomass, like sawdust and other woody waste, can be converted into transport and aviation fuels.
IER recently engaged a specialist company to conduct a thorough review of available reservoir and geological data of the Gippsland Basin lignite seams. Their preliminary analysis suggests that the Gas Initially In Place ('GIIP'), in the un-mineable lignite seams within EL 4416, could be in the range of 6 to 35 trillion cubic feet ('TCF').
EL 4416 is an extensive exploration licence in the Gippsland Basin of southeast Victoria that hosts a number of near-surface and deeper lignite (brown coal) deposits. According to an independent report by AMC Consultants, EL 4416 contains a JORC-compliant resource of around 16.4 billion tonnes of lignite, within three deposits: Gormondale, Gelliondale and Stradbroke.
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Ignite Energy Resources Limited ('IER') is an Australian-based company focused on developing Exploration Licence 4416 ('EL 4416') and Exploration Licence Application 4968 ('ELA 4968'). EL 4416 contains extensive biogenic natural gas (BNG) and lignite (brown coal) resources, while both EL 4416 and EL 4968 are prospective for world-class heavy mineral sands deposits.