NT Resource News – August 3 | NT Independent

NT Resource News – August 3

by | Aug 2, 2022 | Business, Business News Brief, Paid Content | 0 comments

 

The NT Independent is providing an update of resource news from across the Northern Territory. Among the highlights this week are the NT’s first hydrogen generator, mining operation updates from Empire Energy’s Beetaloo project, KGL Resources and PNX’s Fountain Head Project and more.

NT gets first hydrogen generator

A new pilot hydrogen generator, storage, and fuel-cell system will be established in Darwin as the NT’s first, part of CDU’s Energy and Resources Institute (ERI).

The Hydrogen Energy Storage System (HESS) will operated by ERI for industry partners, students, and researchers to further develop and commercialise hydrogen as an energy source.

“There is still a lot of work to do for the NT to become a hydrogen producer for a global energy market that is investing heavily in alternative fuels,” said ERI director Professor Suresh Thennadil.

“ERI, with its REMHART grid systems hub, is perfectly placed to help drive this renewable energy industry in the NT by bringing dedicated researchers and industry together to work through the challenges.”

The hydrogen electrolyser and fuel cell system would expand the Territory’s capabilities in renewable energy systems.

KGL Resources sees higher copper output at Jervois

KGL Resources (KGL) sees more high-grade copper hits from its recently finished 23-hole drilling program at Jervois Copper Project in the Territory. KGL aims to establish a world-class, low-cost copper mine.

The company’s program set out to test four brownfield targets within and nearby Jervois’ Reward deposit—Reward Gap and East Lodes, Marshall Deeps, Reward North and Reward South.

The positive results prompted the company’s share prices to trade 26.83 per cent higher intra-day to $0.26 while the market cap is approximately $105.04 million.

The company, at present, is advancing project studies to land on the best development scenario. A mining management plan was approved by the NT Government in January last year.

PNX Metal’s gold project development, on-time and on-budget: company

PNX Metals Ltd (PNX) lodged its comprehensive second supplement to the draft Environmental Impact Statement (EIS) with the NT Environmental Protection Authority (NT EPA) for the approval of its Fountain Head Gold Project in the Territory.

PNX recently finalized a substantial amount of additional work in the first half of this year to prepare the second supplement, including engaging an independent expert to review and provide advice regarding the modelling approach, parameters used and interpretation.

The EIS is an important component of the approval process and contains a comprehensive risk assessment, including studies on groundwater and surface water, biodiversity, Aboriginal and cultural heritage, socioeconomic impacts, transport, air quality, noise and closure/rehabilitation, the company said.

PNX has a large tenement portfolio containing a mix of gold, silver and zinc assets in the Pine Creek region of the Territory. The total contained gold in the company’s project is estimated to be close to 400,000 ounces.

The advanced Fountain Head Project hosts a mineral resource of 2.94 million tonnes at 1.7 g/t gold for 156,000 ounces of gold.

Empire Energy on target with production schedule

Empire Energy Group Ltd (EEG) said work on its Beetaloo project is being fast-tracked to enable the company to start production within the next three years.

EEG has already spent $46.5 million preparing sites in the Territory and is expecting to spend the same amount again this year for its preparation to move from appraisal to the gas production phase. The company holds over 14.5 million acres of highly prospective exploration tenements in the McArthur and Beetaloo Basins in the Territory.

The company also said it has paid $3.4 million in taxes to the Territory government and royalties to Traditional Owners, and $100,000 in an arts partnership with emerging Borroloola-based Aboriginal artists and provided up to 1,800 employment hours for Indigenous employees.

At present, 10 Territory businesses are benefiting from the project, the company said, including Alice Springs-based Silver City Drilling, Borroloola-based Cairns Industries, the Heartbreak Hotel on Carpentaria Highway and El Nino Irrigation.

“The Beetaloo can play a key role in underpinning gas supply to Australia’s east coast, and supporting the NT’s five-point plan to make the Territory a world-class gas production, manufacturing and services hub. Depending on results of activity currently underway, we hope the first production will be achieved in 2024/25,” Empire Energy chief executive Alex Underwood said.

Central Petroleum update on Palm Valley 12 drilling

Central Petroleum Limited (CTP) said that its Palm Valley 12 (PV12) well OL3, southwest of Alice Springs in the Territory reached a depth of 2,020 metres in the P2 unit of the Pacoota Formation on August 1.

CTP’s operations last week included placing cement plugs in the build section and installing and cementing the 7″ liner in place. The tie-back assembly including the downhole deployment valve was installed to enable the air drilling of the lateral sidetrack. The rig is expected to commence air-drilling the lateral in the P2/P3 formations within the next 24 hours.

Depending on the rate of penetration, the P2/P3 lateral is anticipated to be completed within the next three weeks.

The company said the sidetrack aims to test the vertically fractured lower P2 sandstone, encountered in the original well, from a horizontal well bore for approximately 450mMD before entering the P3 sandstone and drilling approximately 450mMD at a nearly horizontal angle.

The PV12 ST1 well drilling, which is expected to be finalized this month, is a joint venture between CTP, with a 50 per cent stake; New Zealand Oil and Gas Ltd, with 35 per cent holding and Cue Energy Resources Limited with 15 per cent interest.

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