Elixir Vitality 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 well-liked 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 throughout the Taroom Trough, which thus 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 won’t 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 all the areas of the licence to handle 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 current Grandis Gasoline 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.”
Click here for the full ASX Release
This text contains content material from Elixir Vitality, licensed for the aim of publishing on Investing Information Australia. This text doesn’t represent monetary product recommendation. It’s your duty to carry out correct due diligence earlier than performing upon any info offered right here. Please check with our full disclaimer right here.