BOWEN ENERGY LIMITED ABN 71 120 965 095 Activities Report for April- June 2012 For personal use only
BOWEN ENERGY LIMITED ABN 71 120 965 095
Activities Report
for April- June 2012
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BOWEN ENERGY LIMITED
Company Back Ground
Bowen Energy Ltd (ASX Code: BWN) listed on the Australian Securities Exchange on the 15 February 2007 and is a Queensland based coal and mineral exploration company.
Bowen Energy holds a significant land position, principally within the Bowen Basin and is exploring for Coking, PCI and Thermal Coal deposits. Currently Bowen Energy holds 5 Exploration Permits for Coal and a further 4 EPC’s in Joint Venture with Bhushan Steel (Australia) Pty Ltd and EP C930 in Joint Venture with Rockland Richfield Ltd (RCI).
Bowen Energy currently holds 7 granted exploration leases for base metals, uranium and precious metals.
Figure 1: Project Locations
Tenement Summary
The exploration interests described in this report are as listed below (table 1). Bowen Energy has a 40% interest in EPC 930 - Richfield and retains a 10% interest in EPC 1001 and EPC 1002, and a 15% interest in EPC 1045 and EPC 1206 in Joint Venture with Bhushan Steel (Australia) Ltd.
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Table 1: Current Bowen Energy Tenements
PROJECT TENEMENT NAME HOLDER STATUS NO. OF SUB-
BLOCKS
GRANT DATE
Blackwater South
EPC1045 SHOTOVER BHUSHAN/ KONDOR
HOLDINGS GRANTED 201 23/05/2007
EPC1206 PLANET DOWNS
BHUSHAN / BOWEN ENERGY
GRANTED 27 19/06/2009
East Middlemount
EPC 930 RICHFIELD ROCKLANDS/
BOWEN ENERGY GRANTED 240 7/04/2005
EPC 1014 COCKATOO GOLDEN
COUNTRY GRANTED 17 20/03/2006
EPC 1085 NORTH
MIDDLEMOUNT BOWEN ENERGY GRANTED 3 23/01/2007
West Rolleston
EPC 1001 MT CHEOPS BHUSHAN /GOLDEN COUNTRY
GRANTED 22 12/01/2006
EPC 1002 KIA ORA BHUSHAN /GOLDEN COUNTRY
GRANTED 40 26/09/2007
EPC 1084 SPRINGSURE
SOUTH BOWEN ENERGY GRANTED 26 23/01/2007
EPC 1187 BUCKLAND BOWEN ENERGY GRANTED 300 4/08/2010
Tarong EPC 1083 COOYAR BOWEN ENERGY GRANTED 145 26/03/2009
Glen Isla EPM 14910 GLEN ISLA BOWEN ENERGY GRANTED 5 26/05/2006
Croydon EPM 16267 CLARA RIVER
1 BOWEN ENERGY GRANTED 25 20/01/2010
EPM 16272 CLARA RIVER
2 BOWEN ENERGY GRANTED 25 20/01/2010
EPM 16274 CLARA RIVER
3 BOWEN ENERGY GRANTED 24 20/01/2010
EPM 17364 NORMAN
RIVER BOWEN ENERGY GRANTED 13 3/11/2009
Bullseye Creek
EPM 16269 BULLSEYE CREEK 1
BOWEN ENERGY GRANTED 98 15/12/2011
EPM 16270 BULLSEYE CREEK 2
BOWEN ENERGY GRANTED 99 15/12/2011
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South Blackwater Project EPC 1045 Shotover (201 sub-blocks) EPC 1206 Planet Downs (27 sub-blocks)
The Katrina Prospect is located within EPC 1045 and is now considered by Bowen Energy to be at an advanced exploration stage.
As previously announced Bowen Energy Limited is in Joint Venture with Bhushan Steel (Australia) Pty Ltd over EPC 1045 in the Bowen Basin of Central Queensland. Preliminary Exploration completed by Bowen Energy had identified two possible seams at the Katrina Prospect within EPC 1045, with thickness of greater than 1.6m below 370 to 640 metres from surface. Following the completion of two independent scoping studies that confirmed the presence of two correlated Coal Seams, the Aries 1 and the Castor 1 the Joint Venture partners awarded project management for the Katrina project to SRK Consulting in October 2011.
As previously reported, interpretation of the 2011 2D seismic survey performed by SRK, has indicated a number of faults across the project area. This information is useful for preliminary evaluation of resources and potential mining method and design. The survey also indicated that the target coal-bearing stratigraphic packages are laterally extensive across the coverage area. This has allowed for a drilling program to be designed to test the target seams during 2012.
The 2012 drilling and coring commenced during the quarter. Of the originally proposed 25 wells, 10 have now been completed. Wells have been designed to primarily test the Castor 1 lower seam which may have potential metallurgical coal properties. The planned bore holes have an average TD of 750m, ranging from 575m to 850m. All wells will be open-hole wireline logged, tested and sampled for different designed measurements.
Katrina Prospect completed and current boreholes June 2012
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Hole ID Easting GDA (55) Northing GDA (55) longitude latitude Expected TD
KT12DH20 687305 7298853 148.8473 -24.4125 597
KT12DH21 688689 7299752 148.8608 -24.4042 600
KT12DH22 691922 7294572 148.8934 -24.4506 772
KT12DH23 693462 7296907 148.9082 -24.4293 724
KT12DH30 689592 7295388 148.8703 -24.4435 748
KT12DH31 691083 7295836 148.8849 -24.4393 700
KT12DH32 691326 7298375 148.887 -24.4163 692
KT12DH35 691860 7296483 148.8925 -24.4334 750
KT12DH24 692480 7298470 148.8983 -24.4153 759
KT12DH57 690384 7296016 148.878 -24.4377 708
KT12DH40 689323 7298497 148.8672 -24.4155 646
KT12DH63 688709 7296773 148.8614 -24.4311 673
Preliminary results have confirmed the continuity of coal seams across the prospect and have increased the area for future potential coal resources. Further drilling is continuing and interpretation and final results asre still pending.
Tenders have now been sent for detailed 3D seismic data collection.
Regional Coal Projects Tarong Project EPC 1083 “Cooyar” 100% (145 sub-blocks)
Following completion of rehabilitation reports and landowner signoffs it is anticipated that this project will be relinquished in the next quarter.
East Middlemount Project EPC 930 40% (240 sub-blocks) Richfield EPC 1014 100% (32 sub-blocks) Cockatoo EPC 1085 100% (3 sub-blocks) North Middlemount Bowen Energy is still reviewing the status of this project in relation to ground access issues. West Rolleston Project EPC 1001 10% (22 sub-blocks) Mt Cheops EPC 1002 10% (50 sub-blocks) Kia Ora EPC 1084 100% (26 sub-blocks) Springsure South EPC 1187 100% (300 sub-blocks) Buckland The intersection of only minor thin coal in 2009 and 2011 exploration drilling on EPC 1002 and the Eastern part of EPC 1187 has resulted in reinterpretation of the regional geological potential of the region and led to the development of an exploration program involving the drilling of an additional 9 proposed open holes within EPC 1001 and EPC 1084 and further to the west along EPC 1187.
Drilling has commenced on the project with significant delays caused by the intermittent rain during this quarter. Three open holes have been completed with preliminary results listed below:
EPC 1187 B021 – 569.55m: Two thin (0.3m thick) coal horizons were interpreted from the gamma-density logs at 541m and 548m depth.
EPC 1187 BC028 – 252m: Preliminary geophysical interpretation indicates two potential coal seams from depths of 94.7m (2m thick) and 97.8m (0.6m) respectively.
EPC 1084 FC007A – 299.47m: No coal, intersected basal section of Bandana Formation.
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Mineral Projects Archie Creek Project (Western Australia) EL 80/3537 100% (24 sub-blocks) Archie Creek EL 80/3898 100% (106 sub-blocks) Sabrina This project was relinquished due to reduced prospectively determined from the 2011 field program. EPM 14910 100% (5 sub-blocks) Glen Isla No exploration activity occurred on this project during the quarter and work is progressing towards relinquishment of this project.
Croydon Project EPM 16267 100% (25 sub-blocks) Clara River 1 EPM 16272 100% (25 sub-blocks) Clara River 2 EPM 16274 100% (24 sub-blocks) Clara River 3 EPM 17363 100% (13 sub-blocks) Norman River
GeoDiscovery Group has completed a remodelling of the regional magnetics for this project. A work program of 2 to 4 combined chip and diamond cores has been proposed with bore-hole modelling and positioning currently in progress. Drilling contractors will be sought during the next quarter.
Bullseye Creek Project EPM 16269 100% (99 sub-blocks) Bullseye Creek 1 EPM 16270 100% (98 sub-blocks) Bullseye Creek 2
A detailed appraisal of the exploration potential of this project has been commenced by GeoDiscovery Group on behalf of Bowen Energy, with an exploration program currently in development. Preliminary field investigations have now commenced.
The information in this report that relates to exploration results is based on information compiled by Mark Sheppard MSc, who is a
member of the Australasian Institute of Mining and Metallurgy.
Mr Sheppard, MSc, MAusIMM, MAAG is a geologist with twenty four years exploration experience in a number of different
commodities and geological regions with in Australia. He is a full time employee of Bowen Energy Limited. Mr Sheppard has
sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which
he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of
exploration results, mineral resources and ore reserves’.
Mr Sheppard consents to the inclusion in the report of the matters based on his information in the form and context in which it
appears.
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