Perth, June 18, 2014 (ABN Newswire) - Atrum Coal NL (ASX:ATU) (OTCMKTS:ATRCF) ("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:
About Atrum Coal NL
Atrum Coal NL (ASX:ATU) is an emerging metallurgical coal explorer and developer.
The Company has a substantial coal position in British Columbia which, as a region boasts:
- Abundance of high quality PCI, coking and anthracite coals
- Well developed rail and port infrastructure with excess capacity
- Access to deep sea ports
- Competitive shipping distance to Asia
- Positive government stance on mining
The Company is building a quality portfolio of metallurgical coal assets suited to the Asian export market and the Board of Directors have a strong track record in identifying and developing world class coal assets in Australia and abroad.
Atrum Coal NL