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Baru Resources Closer To Grant Of Longreach Coal Tenement

Baru Resources (ASX: BAC) is moving ahead with securing the first of the Longreach Project areas in Queensland, which is now ready for grant.

The application for EPC 2840 is now ready to progress to grant, but requires Baru to lodge rent of A$23,914.8 for the first term of the permit and A$2,500 for Lodgement of Financial Assurance before 2 October 2012.

Baru said it intends to pay both the required rent and lodgement fee.

The Longreach project consists of four EPCA's totalling 3,202.8 square kilometres.

The Cretaceous age Winton Formation covers the entire project area as both outcropping and sub-cropping sedimentary units.

This formation has been the subject of a major increase in exploration over the last 12 months and two large tonnage thermal coal deposits have already been identified including a 728 million tonne Resource by International Coal (ASX: ICX) and a 1.2 billion tonne Resource by East Energy Resources (ASX: EER).

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