BOWEN ENERGY LIMITED - ASX: BWN

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Description

Bowen Energy is an Australian coal and minerals exploration company, focused on the exploration and development of coal and mineral resource projects in Australia and the Asia-Pacific region.

East Middlemount Coal Project

EPC 1085 was granted on the 23 January 2007. Work programs on the East Middlemount project have involved compilation of digital geophysical, remote sensing (Landsat) and GIS data in preparation for reconnaissance field programs and scout drilling. This work is expected to commence in late June 2007. Exploration activities over EPC 930 are currently being operated by joint venture partners Rocklands Richfield Limited, who are to expend $527,000 to earn 60% equity. Previous results of exploration programs conducted by RCI are available on the ASX web site, Second Quarter Activities Report 31/01/2007. No new information has been forthcoming to BWN on their exploration activities. The EPCs are situated in the Bowen Basin and are 10kms from the German Creek East coal mine and 20kms from the Norwich Park coal mine which both produce volatile coking coal. Previous investigations indicate that thin but high quality seems of the German Creek Formations may be present in the eastern part of the Project and that the main target of thick coking coal seems belong to the Rangal Coal Measures (as well as the other coal bearing formations) are present at depth in the western part of the Project. Previous seismic surveys confirm the continuity of high reflectance horizons attributed to the Rangal Coal Measures to the west of the Foxleigh fault. Expected depths to the top of the Rangal coal measures varies from 200m in the North to as shallow as 100m in the central area. Shallow drilling east of the Foxleigh fault in the south areas has confirmed stratigraphy attributed to the German Creek Formation. However seismic profiles in this area are inconclusive due to the presence of cover sequences containing basalt. Bowen Energy intends to chase these reflective horizons with strategic drilling programs to confirm and quantify potentially economic coking quality coal resources.

West Rolleston Coal Project

EPC 1083 was granted on the 23 January 2007, Section 31 and an agreement with Bidjara #3. People has been completed with final grant of title is pending. Compilation of digital geophysical, remote sensing (Landsat) and GIS data has commenced in preparation for reconnaissance field programs and scout drilling. This work is expected to commence in late June 2007. The project area is located some 40 kilometres south west of the town of Springsure and 40 kilometres west of X-Strata Coal's Rolleston Mine and the new heavy gauge railway constructed to service that mine. Four seams have been intersected in the adjacent EPC 786 at Freitag Creek to the east, typically some 7.5 metres of net coal with cumulative coal of up to 10 metres. The equivalents of these coal seams are expected to continue into EPC 1001 to the west of EPC 786 and north into EPC 1084. Departmental drilling in the general region has demonstrated that coal development within the Bandanna Formation occurred westward across the Springsure Shelf and confirmed the presence of shallow, thick, low ash coal seams with a coal rank similar to Rolleston coal. With the general persistence of the coal seams in the Bandanna Formation with little variation in coal quality, there are almost certainly coal seams to be delineated within the EPC and a strong potential to define suitable thermal coal resources.

Tarong Coal Project

The Cooyar application was lodged to allow BEL to explore for thermal coal associated with coal seams of the Tarong Basin, and in the overlying Walloon CM of the Surat Basin. These units are interpreted to overlay the Triassic Tarong basin to the south. EPC application 1083 (Cooyar) consists of 215 sub blocks covering approximately 530 square km over parts of the Tarong, Surat and Clarence-Morton Basins in SE QLD.

Cape River Coal Project

Bowen Energy applied for 300 sub blocks covering the Cape River Project area, 70km south-east of Pentland in North Queensland. This area represents an under explored region which potentially hosts Permian sub-basins concealed below thin Tertiary and Palaeozoic cover (units of the Campaspe and Suttor Formations). Such sub-basins are prospective for significant thermal coal resources similar to those of the Wolfang and Blair Athol sub-basins located further to the south near Clermont.

Shotover Coal Project

The project is considered by Bowen Energy Ltd to contain extensive areas with the potential to host underground coking coal. With just about all of the potential coking coal areas in the Bowen Basin covered with MLs, MDLs, and EPCs, the remaining target areas for coking coal within the Bowen Basin lies at depths of +300m. These resources will contain gas and may be subject to geotechnical challenges such as thrust fault zones and residual stresses. Exploration within EPC 1045 is directed towards coal reserves that fall within the prime coking coal range of 1.0 to 1.2% coal reflectance zone and 300 to 800metres depth range in the Rangal Coal Measures.

Glen Isla Mineral Project

Preliminary Geological compilation and interpretation is in progress. Digital capture of all previous drill has been completed by Resource and Exploration mapping (REM) in Brisbane. A program of up to 1500m of Reverse Circulation drilling is expected to commence in early-mid May 2007. EPM (Exploration Permit Minerals) consists of 11 sub blocks (36 sq kms) 10 kms north east of Quamby (45 kms from Cloncurry) in north western Queensland (The Mt Isa Block). The EPM was acquired in order to explore for Uranium deposits in sedimentary palaeochannel environments and Ernest Henry style hydrothermal iron oxide copper gold deposits. At Glen Isla the uranium mineralisation is considerably younger than the spatially-related igneous rocks. This is the generally case for the calcrete, sandstone and unconformity-related deposits in Australia. The model implies that this deposit has formed as a result of uranium mobilisation from older uranium-enriched source rocks (Naraku granite) under low temperature oxidising conditions, and precipitation by oxidation-reduction (redox) reactions in the overlying Jurassic and Mesozoic Gilbert River and Wallumbilla formations respectively. The grades of mineralisation are likely to reflect interplay of the availability of uranium and the efficiency of the redox systems. The "Main Channel" deposit estimates run at an average grade of .058% U3O8 however no economic resource of Uranium is currently defined to JORC compliance. A number of prominent aeromagnetic features are present within the basement rocks of the tenement and may present potential for IOCG (iron oxide copper gold mineralisation) similar to the nearby Roseby and Ernest Henry deposits.

Archie Creek Mineral Project

Bowen Energy has completed an agreement with Baracus Pty Ltd, expanding its existing tenement package. The Archie Creek Project is located approximately 120km south west of Kununarra, encompassing several known Uranium and Fluorite (Archie’s Prospect), approximately 35km of the potentially mineralized Dunham fault zone. Significant high grade gold/silver values and uranium mineralisation has recently been reported by Northern Star Resources (NSR) at its Dunham Prospect (ASX 6 Sept 2006). The Dunham prospect which has the Frog Uranium Prospect (3,800ppm u308 ASX 20.02.07 UTO) is located immediately north along strike of the Archie Creek Project in similar host rocks. The Speewah Resource is a large high grade fluorite deposit located 24km north of the Archie Creek project. The fluorite deposit totals combined Indicated and Inferred resources of 4.4 million tonnes at 23.6% CaF2 (at 10% cut-off grade), with 3.8 million tonnes at 23.5% CaF2 in the Indicated category. Regional geological mapping indicates that the structure that hosts the Speewah mineralisation extends south to the Archie Creek project area. Exploration has been undertaken by previous explorers in the area since the early 1900’s for a range of commodities including uranium, base metals, gold, heavy mineral sands, tin, rare earths, diamonds, fluorite and barite. Limited reconnaissance exploration has been undertaken in recent times. The project is centred on the Proterozoic Speewah Group of rocks. The Speewah group consists of a package of porphyritic and ryholitic volcanic and pyroclastic rocks overlain by a sequence of arkosic sediments. To the south along strike NSR have also reported epithermal gold mineralisation at its Range prospect and Uranium at its Antares Prospect. U3O8 Limited has recently announced it has entered into a joint venture arrangement with NSR to explore for Uranium. This joint venture has substantial increased U308 Limited land holding in the area supporting the increased prospectivity of the area. Historical assays of up to 12,000ppm U3O8 (ASX Announcement UTO 20.02.07). The Archie Creek project consists of 1 exploration license of 168 sq km held by Baracus Pty Ltd for a total area of 47 blocks. Exploration license 80/3537 was granted on 19/09/2007. Combined with the adjacent application Sabrina Uranium Project ELA 80/3898, Bowen Energy Ltd now holds over 501 square km of ground in this potentially rich and emerging Uranium precinct.

Croydon Uranium Project

The Croydon Uranium Project consists of 11 EPM applications (Exploration Permits for Minerals), South East of Croydon in North Queensland. The application is for an area of (1100 sub blocks) one thousand one hundred sub-blocks. Exploration will target, potential roll front or palaeochannel style uranium mineralisation within the on lapping Mesozoic and Jurassic sequences of the Eulo and Eromanga basins. Additional potential exists for gold, and base metal occurrences within units of Proterozoic Croydon Volcanic Group and other Igneous Units of the Georgetown block in North Queensland.

Bullseye Creek Uranium Project

The Bullseye Creek Uranium Project consists of 3 EPM applications. These projects lay west of Georgetown in North Queensland. The Bullseye Creek applications fall over portions of the Proterozoic Croydon Volcanic Group and the Esmeralda Granite complex within the Georgetown Block of North Queensland. Within the outcropping portions of the Proterozoic Croydon Volcanic Group there has been a moderate to large amount of exploration focused towards epithermal and vein hosted gold deposits, hydrothermal and igneous related Tin and to a lesser extent Porphyry Copper and Uranium mineralisation. In addition the tenement area contains a number of igneous related Au-Ag-base metal veins with potential for Kidston style sub-volcanic breccia systems. Elevated radiometric responses for uranium and potassium are apparent locally within the application area. While no known uranium occurrence falls within the area prospectivity for Maureen style hydrothermal uranium, thorium and fluorine mineralisation clearly exists.

Blackbraes Mineral Project

Blackbraes Uranium Project consists of two applications and one existing application approximately 80km south of Oasis in North Queensland. The exploration targets include uranium, gold, and base metal occurrences within units of the Einasleigh Metamorphics and younger igneous units of the Georgetown Block. Favourable conditions are interpreted from government and open file data sets to exist for Uranium mineralisation along the contact with the Broken River Province in North Queensland. The applications fall over portions of the Einasleigh Metamorphics within the Georgetown block of North Queensland. BHT mineralisation (e.g. Mount Misery) occurs within the outcropping portions of the Einasleigh Metamorphics to the north of the project area. Within the outcropping portions of the Einasleigh Metamorphics there has been a moderate to large amount of exploration focused towards base metals and to a lesser extent gold. This exploration has lead to the discovery of a large number of small BHT occurrences that confirm the prospectivity of the Terrane. The tenement area also contains a number of igneous related Au-Ag-base metal veins with potential for Kidston style sub-volcanic breccia systems. A small uranium occurrence also falls within the area indicating prospectivity for Maureen style hydrothermal uranium, thorium and fluorine mineralisation. Additional potential occurs for roll front or palaeochannel style uranium mineralisation within overlying Mesozoic units.

Mine For

coal, uranium

Location of operation(s)

Queensland, Western Australia

Australian Basins

Bowen, Eromanga

Address

Level 7, 10 Barrack Street
SYDNEY, NSW, AUSTRALIA

Phone

+61 7 3839 8818

Email

Website

http://www.bowenenergy.com.au/

Last Updated

04/05/2010