TOWNSVILLE, Australia, July 8, 2011 /PRNewswire/ --
Strategic Minerals plc (AIM: SML) today announces that the Company has lodged an application for a Mineral Development Licence (MDL) with the Government of Queensland. The MDL application covers an area of approximately 1,046 hectares and carries a renewable term of 5 years. It encompasses the majority of the land within EPM 15654 including all current drill targets including those to the north and south of the Iron Glen Pit, the quartz porphyry area to the west of the pit and the new Lead Belly discovery to the north west of the pit area. The Board expects the MDL to be granted within the next four months.
The MDL will enable the Company to undertake geoscientific programs (e.g. drilling, seismic surveys), mining feasibility studies and bulk ore extraction for metallurgical testing and marketing, environmental, engineering and design studies. This will enable the Company to evaluate the development potential of a defined resource with confidence as to continuing rights to all of the minerals contained within the area of the MDL over the term of the MDL.
The next step is to identify areas within the MDL where Mining Leases can be applied.
Pat Griffiths, CEO of Strategic Minerals, commented:
"We extend our thanks for the contribution by I2M Associates and Terra Search in the compilation of this application. We will provide regular updates on the progress of our application. A copy of a map detailing the area of the proposed MDL is posted on our web site. This is an excellent move for the Company and demonstrates the Directors' belief in the value of this tenement."
Please click on the below link to view a report produced by Terra Search Pty Ltd on the new Lead Belly base metal discovery, North Queensland, Australia: http://strategicminerals.co.uk/images/ts.pdf
About Strategic Minerals plc
Strategic Minerals is a Queensland-based company incorporated in the UK on 16 November 2010. The Company's wholly owned subsidiary, Iron Glen Pty Ltd, has title to the Iron Glen Tenement which is located approximately 40 kilometres southwest of Townsville, Queensland. The Tenement covers an area of 2,100 hectares and lies 10kms from existing rail and road infrastructure that links into Townville's deep water port which has all year round bulk loading facilities.
For further information please visit the Company's website at http://www.strategicminerals.co.uk
Follow the exploration site informal discussion: http://twitter.com/StrategicMinrls
SOURCE Strategic Minerals plc