Maintaining a long-term exploration program is our future. It ensures sustainability by identifying new resources and enabling a continuous stream of projects. It also strengthens the value of the company through diversification.
New Hope has continued to back its exploration program even during slowdowns in the resources sector. This is founded on a business philosophy that takes a long-range view of opportunities, rather than solely a short-range view of the current market. We have three New Hope drilling rigs plus contract rigs to support activity, where necessary. The programs include seismic, aeromagnetic and gravity surveys in addition to drilling.
Location: North of Blackwater, Central Queensland
Project status: This project is currently in early exploration phase
A drilling program plus 28 kilometres of 2D seismic survey was completed in 2013. The geological data collected confirms the presence of several coal seams. The data is being modelled for subsequent review, prior to determining the future work programs for this tenement.