Linc Energy obtains 1.2 billion tonne coal exploration lease in Poland
Linc Energy Ltd (ASX:LNC) (OTCQX:LNCGY) is pleased to announce it has secured a significant coal exploration concession “Polanka-Wielkie Drogi” (PWD) in Poland in the south eastern part of the Upper Silesia Coal Basin (see attached map). The coal is of a sub-bituminous quality, covering an acreage of 216 square kilometres. The Company expects to commence exploration activities in early 2012.
Chief Executive Officer, Peter Bond, said, “This Polish coal lease is a key asset to providing Linc Energy’s platform into mainland Europe and we will be looking to drill and complete a pre-feasibility on Underground Coal Gasification (UCG) over the coming months.”
“Based on data published by Polish Mining and Geological Authorities, the coal deposit is estimated to be in the order of 1.2 billion tonnes,” Mr Bond said. Linc Energy is in the process of setting up a project office in Krakow to support the exploration Programme in Poland.
For more information visit www.lincenergy.com or contact our office on +61 7 3229 0800.
Posted: November 28, 2011