Eagle Bay grabs Cooper lease

PERTH-based minnow, Eagle Bay Resources, has been granted a five-year A$21.55 million exploration licence – PEL 182 – in the South Australian portion of the Cooper Basin following the successful conclusion of negotiations for land access between Native Title claimants and the company.

Eagle Bay is committed to a minimum of 11 new exploration wells, as well as at least 70km of seismic acquisition and studies in the first three years of the program.

“Eagle Bay Resources’ winning work program bid represents A$21.55 million exploration investment, of which A$16.5 million is guaranteed,” South Australian mineral resources development minister Paul Holloway said.

“The non-guaranteed program for years four and five includes two exploration wells, and at least 200km of seismic acquisition and studies.”

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