Following the recent raising of $8 million in investment funding, Atrum Coal has received a coal exploration permit (CEP) through joint venture (JV) partner Elan Coal for the purpose of exploration and drilling at the Elan South project in Alberta, Canada.
The CEP, effective immediately, is valid for two years and will allow Atrum to conduct field exploration and drilling in order to define resources and reserves and create a mining plan. Atrum intends to complete its acquisition by March 2018.
Elan South is a prospective coking coal project, possessing a JORC 2012-complaint estimate of 7 million tonnes (Mt) indicated and 28Mt inferred resources, primarily hard coking coal, a trait shared with fellow Australian explorer Riverdale Resources’ proposed Grassy Mountain project, located immediately to the south.
Max Wang, managing director of Atrum, said the company was excited to receive the CEP, calling it a significant milestone.
“We have begun detailed 2018 field program planning including drilling, coal quality testing, geological modelling and analytical work, and expect to start the field work soon after site becomes accessible in May 2018,” he explained.
“The recently announced successful fund raising will get Atrum fully funded for completing the Elan acquisition and the planned 2018 and 2019 exploration programs and beyond.”