Asset Name

South Rolleston

EPC

2428, 2432 and 2519

Project Basin

Bowen Basin (Permo-Triassic) and the overlying Surat Basin (Jurassic-Cretaceous)

Project Area

232.4km2

Coal Type

Moderate Coking Coal / High Energy Thermal Coal

Target Stratigraphy

The Bandanna Formation & the Evergreen Formation

Estimated Exploration Target

242 – 484 Million tonnes within the Bandanna Formation

Proximal Major Projects

BHP Coal – EPC 851 & 1277; Bandanna Energy – EPC 1189 & 1195; Tri-star – EPC 1777 & 1054.

Project Overview

The South Rolleston Project is located in the Banana Shire of Central Queensland. The Project is geologically situated over the Comet Ridge (Platform), which is a basement high that separates the two primary Bowen Basin depo-centres of the Taroom Trough and Denison Trough. A section of Permo-Triassic units of the Bowen Basin drape across the Comet Ridge which trends north northwest to south southeast through the western part of the Project area. The Late Permian units that occur in the Project area are at some of the shallowest depths in the Bowen Basin and include the Bandanna Formation, which marks the top of the Permian section in this region. The Bandanna Formation contains Group IV coal seams that are correlatives of the Rangal Coal Measures to the north and Baralaba Coal Measures to the east.

Previous Exploration

Exploration for coal, petroleum and coal seam gas has taken place in and around the Project area for many years. This work has included geological mapping, geophysical surveys, and drilling. 16 petroleum wells, 100+ coal seam gas wells, 9 Geological Survey of Queensland (GSQ) stratigraphic boreholes, 3 coal exploration boreholes and 15 waterbores with recorded coal or carbonaceous intersections have been drilled on or near the Project area.

Exploration Target

There are potential targets in multiple coal-bearing formations throughout the Project area. These include the Early Jurassic Evergreen Formation of the Surat Basin (where present) and the Late Permian Bandanna Formation and Middle Triassic Moolayember Formation of the Bowen Basin. The objective of exploration on these tenements is to discover large coal deposits, close to existing or proposed coal haulage infrastructure, capable of being beneficiated to export quality coking coal and thermal coal products.

The primary target seams lie within the Bandanna Formation at depths amenable to underground mining. Proximal coal seam gas wells record multiple seams within the Bandanna Formation with maximum thicknesses for individual seams reported from 2.00m to greater than 4.00m. The Evergreen Formation and the Moolayember Formation are largely under explored in Queensland and further drilling is required to quantify the full potential of the Evergreen Formation and the Moolayember Formation as a coal resource. However, the Evergreen Formation has yielded moderate coking coal to high energy thermal in other areas.

Proximity to Infrastructure

Rail options for the Project include linking with the existing Blackwater Rail System (75km) or the proposed Surat Basin Coal Rail System (75km). This Rail System connects to the Gladstone Region RG Tanna Coal Terminal, the Barney Point Coal Terminal, Wiggins Island Coal Export Terminal (WICET) and the proposed Balaclava Island Coal Terminal and Fitzroy Coal Terminal.