SYDNEY, Nov. 9 /CNW/ - Allegiance Mining NL (ASX Code : AGM) is pleased
to announce that its wholly-owned subsidiary, Geothermal Energy Tasmania
Holdings Limited (GXT), has been granted its first Special Exploration Licence
(SEL) for Category 6 (Geothermal) Minerals in Tasmania.
Covering 2,205 sq kilometres in Western Tasmania, SEL 42/2007 is the
first of three applications to be granted. Licence conditions include a
minimum expenditure of $350,000 over two years. SEL applications 19/2007 and
36/2007 are pending.
Allegiance believes the package of Tasmanian properties being assembled
by GXT is highly prospective for geothermal energy, a clean renewable energy
source. Chairman, Tony Howland-Rose said "The granting of our first Geothermal
licence is really exciting. My understanding is that the remaining licences
should be granted in the next few weeks. While geothermal energy is a new
concept, it is clear that it will form an important part of the "clean energy"
scene in Tasmania. All fundamental data look really positive at this stage."
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For further information:
For further information: Tony Howland-Rose, Chairman, +61 (02) 9397 7777
or +61 (0) 418 972 112; David Deitz, Director and CFO, +61 (02) 9397 7777 or
+61 (0) 411 858 830