The 300 square kilometre area, EPC 1053, has been named the North Alpha Coal Project and is thought to host a 675 million tonne thermal coal inferred resource; it adjoins the company's EPC 1039 tenement, known as Pocky Creek.
Waratah president and CEO Peter Lynch said the new permit would allow the company to formally begin drilling on the northern side of its Galilee Basin interests.
"This is an important development for Waratah and marks the beginning of a dramatic increase in drilling activity at our tenements in the Galilee Basin," Lynch said.
"Work to date indicates our properties contain a potentially large resource of marketable, export quality thermal coal."
Lynch said Waratah Coal plans to launch a drilling program soon at North Alpha and begin examining a range of options for infrastructure to transport the coal.
The first priority is to demonstrate the project is of sufficient size to underwrite the necessary rail and port infrastructure, he said.
