Extension Granted on EL 4416
Extension Granted on EL 4416
Date: 28 April 2011
Ignite Energy Resources Limited ('IER') is pleased to announce that it has received notice from the Victorian Department of Primary Industries ('DPI') that Exploration Licence 4416 ('EL 4416') has been renewed for an additional 2 years.
EL 4416, IER's wholly-owned exploration licence, was recently renewed (without any relinquishment) to April 2013. EL 4416, located in the Gippsland Basin of southeast Victoria, hosts a JORC-compliant resource of 16.4 billion tonnes of lignite (brown coal) and is prospective for world-class resources of coal bed methane natural gas and heavy mineral sands.
Prior to April 2013, IER will be applying for Retention Licenses (‘RLs’) over key areas in EL 4416. These RLs will provide IER with additional security of tenure and will significantly extend the time IER holds the mineral rights. During this time, IER will continue to develop options for upgrading this world-class energy resource.
Gippsland Basin - Lignite Deposits
