ucg attention

Interesting to see a Gold and Copper focused explorer turning to UCG in QLD. They have obviuosly done their research and see its viability. Not sure how much cash GCR have but they are looking for JV's and looking to acquire UCG related properties.

Certainly it looks like UCG is coming to the fore, especially in this country.

From the ann;
"GCR to drill Coal and
Underground Coal Gasification targets in Surat and Clarence-Moreton Basins, south-east Queensland
SUMMARY
Nine Coal Permits applied for since 2008
Three Coal Permits granted
One Coal Permit under offer for grant
Three competing applications
Two more coal permit applications lodged
2,000 metre, 5-10 hole drill program planned
Ongoing evaluation of Coal-UCG opportunities
QUEENSLAND COAL-UCG PORTFOLIO
In mid-2008, GCR began evaluating developments in the supply of both coal and gas to global energy markets and concluded that the market would require additional sources of supply for both commodities. Beginning in November 2008, GCR has applied for nine permits in the Bowen, Surat, Clarence- Moreton and Galilee Basins in Queensland.
GCR is planning to drill four of its coal permits that have been recently granted or offered. The focus of exploration will be evaluating the potential of deeper stranded coal seams for UCG extraction where the opportunity for shallow, open cut resources is limited."