Receives Grant of Additional Coal Licences
Perth, June 18, 2014 AEST (ABN Newswire) - Atrum Coal NL (
ASX:ATU) (ATRCF:OTCMKTS) ("Atrum" or the "Company") is pleased to announce that the Company has received approval from the BC Ministry of Energy and Mines in relation to the granting of additional coal licences at the Groundhog Anthracite Project, located in British Columbia, Canada.
Commenting on the recent ministerial approvals, Chairman Mr James Chisholm stated:
"The additional coal licences granted at Groundhog offer Atrum the opportunity to increase the anthracite inventory. Recent PFS results focused on only two of more than twenty anthracite seams in an area representing less than 5% of the total Groundhog Project. Longer term, we will seek to identify further areas at Groundhog, including the areas recently granted, that can provide low impact, mine expansion opportunities."
The newly granted coal licences are contiguous with the current coal licences at Groundhog and were approved following detailed consultation with the Tahltan and Gitxsan First Nations.
The map in link below illustrates the four additional licences that have recently been granted.
A Notice of Work (NoW) has been approved which enables the Company to commence drilling on these licences.
Atrum owns 100% of a total of 26 coal licences and 11 coal licence applications at Groundhog. The Company will incorporate these newly granted licences into its broader 2014 exploration program.
The Company has also received approval from the BC Ministry of Energy and Mines to construct ground access trails at Groundhog.
Drilling continues at the Pre-Feasibility Study site with encouraging results in terms of anthracite seam thickness and yields. A more detailed update will be provided once the current drilling program has been completed.
To view the release and the location map, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ATU-681172.pdf
About Atrum Coal Limited
Atrum Coal Limited (ASX:ATU) is a metallurgical coal developer. The Company flagship asset is the 100%-owned Elan Hard Coking Coal Project in southern Alberta, Canada. Elan hosts large-scale, shallow, thick, hard coking coal (HCC) deposits with a current JORC Resource Estimate of 298 Mt (70 Mt Indicated and 228 Mt Inferred). Comprehensive quality testing of Elan South coal on samples from the 2018 exploration program, combined with review of substantial historical testwork data for the broader Elan Project, has confirmed Tier 1 HCC quality.
The initial focus for development is the Elan South area, which is located approximately 13 km from an existing rail line with significant excess capacity, providing direct rail access to export terminals in Vancouver and Prince Rupert. Elan South shares its southern boundary with Riversdale Resources Grassy Mountain Project, which is in the final permitting stage for a 4.5 Mtpa open-cut HCC operation. Around 30km to the west, Teck Resources operates five mines (the Elk Valley complex) producing approximately 25 Mtpa of premium HCC for the seaborne market.
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