canning basin, western australiaabout the canning basin the canning basin is an emerging permian...

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TPL Corporation Limited www.tplcorporation.com.au Suite 6, 245 Churchill Avenue Subiaco Tel: +61 8 9217 3300 Fax: +61 8 9388 3006 PO Box 1273 Subiaco WA 6904 [email protected] ABN: 72 088 749 008 ASX: TPL 15 th September 2011 DEPARTMENTAL DRILLING APPROVAL CANNING BASIN, WESTERN AUSTRALIA TPL Corporation Ltd (TPL” or “the Company”) is pleased to announce receipt of approval for Program of Works (POW) from the Western Australian Department of Mines and Petroleum for our proposed initial drilling program at Lightjack Hill Project in the Canning Basin. The initial drill program proposed at TPL’s Lightjack Hill Project targets a potential coal- bearing horizon identified by geologically mapped in late 2010, by geological consultant Dr Joseph Drake-Brockman of Drake-Brockman Geoinfo Pty Ltd (ASX, TPL Dec10)(Figure 1). A total of 28 rotary mud and diamond drill holes have been approved for drilling within Exploration Licences E04/1975,1986 & 1988. Drill hole coverage on this first pass drilling program involves rotary mud drill testing of potential coal-bearing target horizon at a nominal drill hole spacing of 2500 to 5000 m x 500 to 1000 m. Proposed drill hole depths nominally range from 100 to 250 m for an approximate total of 3000 m. A dual purpose rig incorporating first pass Rotary Mud drilling is proposed which will enable holes to be twinned by HQ diamond where coal measures are intercepted. “ This is yet another significant milestone for TPL with its progress on exploration in the Canning Basin, following recent achievements including completion of access agreements with Traditional Owners and subsequent granting of further tenure (ASX, TPL Aug11), plus awarding of a co-funding drilling grant (ASX, TPL July11)” states Managing Director Mark Gunther. Departmental approved drilling can commence once heritage clearance has been obtained. Since signing of Exploration Access & Heritage Protection Agreements TPL has been progressing arrangements for heritage clearance surveys, with the Kimberley Land Council (KLC), the representative body of Traditional Owners with the region. For personal use only

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Page 1: CANNING BASIN, WESTERN AUSTRALIAAbout the Canning Basin The Canning Basin is an emerging Permian Coal Province with considerable potential as confirmed by Rey Resources Ltd’s (REY)

TPL Corporation Limited www.tplcorporation.com.au

Suite 6, 245 Churchill Avenue Subiaco Tel: +61 8 9217 3300 Fax: +61 8 9388 3006 PO Box 1273 Subiaco WA 6904 [email protected]

ABN: 72 088 749 008

ASX: TPL

15th September 2011

DEPARTMENTAL DRILLING APPROVAL

CANNING BASIN, WESTERN AUSTRALIA

TPL Corporation Ltd (“TPL” or “the Company”) is pleased to announce receipt of approval for

Program of Works (POW) from the Western Australian Department of Mines and Petroleum

for our proposed initial drilling program at Lightjack Hill Project in the Canning Basin.

The initial drill program proposed at TPL’s Lightjack Hill Project targets a potential coal-

bearing horizon identified by geologically mapped in late 2010, by geological consultant Dr

Joseph Drake-Brockman of Drake-Brockman Geoinfo Pty Ltd (ASX, TPL Dec10)(Figure 1).

A total of 28 rotary mud and diamond drill holes have been approved for drilling within

Exploration Licences E04/1975,1986 & 1988. Drill hole coverage on this first pass drilling

program involves rotary mud drill testing of potential coal-bearing target horizon at a nominal

drill hole spacing of 2500 to 5000 m x 500 to 1000 m. Proposed drill hole depths nominally

range from 100 to 250 m for an approximate total of 3000 m. A dual purpose rig

incorporating first pass Rotary Mud drilling is proposed which will enable holes to be twinned

by HQ diamond where coal measures are intercepted.

“ This is yet another significant milestone for TPL with its progress on exploration in the

Canning Basin, following recent achievements including completion of access agreements

with Traditional Owners and subsequent granting of further tenure (ASX, TPL Aug11), plus

awarding of a co-funding drilling grant (ASX, TPL July11)” states Managing Director Mark

Gunther.

Departmental approved drilling can commence once heritage clearance has been obtained.

Since signing of Exploration Access & Heritage Protection Agreements TPL has been

progressing arrangements for heritage clearance surveys, with the Kimberley Land Council

(KLC), the representative body of Traditional Owners with the region.

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Page 2: CANNING BASIN, WESTERN AUSTRALIAAbout the Canning Basin The Canning Basin is an emerging Permian Coal Province with considerable potential as confirmed by Rey Resources Ltd’s (REY)

TPL Corporation Limited www.tplcorporation.com.au

Suite 6, 245 Churchill Avenue Subiaco Tel: +61 8 9217 3300 Fax: +61 8 9388 3006 PO Box 1273 Subiaco WA 6904 [email protected]

ABN: 72 088 749 008

ASX: TPL

Figure 1: Proposed Drilling at Lightjack Hill Project, Canning Basin, Western Australia

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Page 3: CANNING BASIN, WESTERN AUSTRALIAAbout the Canning Basin The Canning Basin is an emerging Permian Coal Province with considerable potential as confirmed by Rey Resources Ltd’s (REY)

TPL Corporation Limited www.tplcorporation.com.au

Suite 6, 245 Churchill Avenue Subiaco Tel: +61 8 9217 3300 Fax: +61 8 9388 3006 PO Box 1273 Subiaco WA 6904 [email protected]

ABN: 72 088 749 008

ASX: TPL

About the Canning Basin

The Canning Basin is an emerging Permian Coal Province with considerable potential as

confirmed by Rey Resources Ltd’s (REY) recent positive definitive feasibility study,

delineation of a 536 Mt thermal coal resource and an exploration target of 9 to 11 Bt (REY

ASX, Apr; June 2011). REY’s project lies within the western end of the Fitzroy Graben.

The Fitzroy Graben lies within the northern portion of the Canning Basin and is a deep

trough of sedimentary rocks over 100 km wide and up to 15 km in depth. TPL’s tenement

holding lies in the central and eastern portions of the Graben which is just as prospective

but grossly under-explored for coal. The Permian Bowen and Sydney Basins in eastern

Australia contain approximately 30 Bt of coal each.

TPL consider that given recent developments and the considerable potential that has

already been highlighted, the Canning Basin is strategically located to take advantage of

the burgeoning long term demand for thermal coal from both India and China. In

comparison to coal exporting ports on the east coast of Australia the Canning Basin is

approximately 6 to 9 days closer by ship to these developing fast growing economies.

For further information please contact

Mark Gunther, Managing Director

Hugh Warner, Chairman

Tel: (08) 92173300

Competent Person Statement The information in this report that relates to Exploration Results is based on information compiled by Mr Mark Gunther who is a full time employee of TPL Corporation Limited and a Member of the Australian Institute of Geoscientists. Mr Gunther has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined by the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Gunther consents to the report being issued in the form and context in which it appears.

Exploration Target

Any discussion in relation to an exploration target is only conceptual in nature, as there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of further Mineral Resources.

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