Wednesday 19th June 2019 Font size:

Elan South Hard Coking Coal Resource Increased by 170% to 97Mt

Tuesday, January 8th, 2019

Highlights

  • Updated Elan South JORC Resource Estimate of 97 Mt (31 Mt Indicated and 66 Mt Inferred), representing an increase of 61 Mt from the 2017 estimate (36 Mt).
  • This updated resource estimate is underpinned by the 2018 exploration program, consisting of 37 boreholes completed in three phases of drilling.
  • The updated Elan South resource compares to the neighbouring Grassy Mountain project (Riversdale Resources) with a stated resource of 195 Mt (85 Mt Measured and 110 Mt Indicated).
  • Detailed coal quality, washability and carbonisation testwork on Elan South samples is ongoing, with final results expected in the next several weeks. Initial results have supported previous preliminary coal quality work indicating high-quality hard coking coal parameters. These include relatively high theoretical yields with low ash, high CSN and low total sulphur and phosphorus values.
  • Coupled with the Environmental Baseline Study started in June 2018, the updated resource and coal testwork results represent a substantial advancement of the high-quality Elan South hard coking coal deposit towards targeted development.
  • Significant expanded drilling of Elan South is planned for the 2019 field program. This is set to target further JORC resource increases and upgrade the current resource classification.
  • Elan South represents just one targeted development area at Elan. Updated JORC resource estimates for other areas within the Elan Coking Coal Project are expected later in January 2019.

Atrum Coal Ltd (“Atrum” or the “Company”) (ASX: ATU) is pleased to advise an updated JORC resource estimate for the Elan South deposit within its 100%-owned Elan Coking Coal Project in southwest Alberta, Canada.

Non-Executive Chairman, Charles Blixt, commented: “We are very excited by the significant increase in the JORC resource estimate for our Elan South deposit. This increase was driven by Atrum’s highly successful 2018 exploration program. The combined 97Mt of Indicated and Inferred resources has validated our belief that Elan South holds substantial hard coking coal resources.

“We are equally encouraged by the initial results from the current detailed coal quality testwork program – confirming a low ash, high yield, low sulphur, hard coking coal. Both outcomes strongly reinforce Atrum’s strategy of rapidly advancing Elan South towards potential development as a premium hard coking coal operation.

“Elan South represents just one targeted development area at Elan. Updated JORC resource estimates for other deposits within the Elan Coking Coal Project are expected in late January 2019. We also look forward to releasing the remaining detailed coal quality results upon expected completion in the coming weeks.

http://atrumcoal.com/
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