The licences, which cover a majority of the Carbon Creek deposit, run 3,680 hectares that is adjacent to the 10 Crown Granted District Lots leased by the company for 2,600 Ha.
The Carbon Creek property has confirmed a measured and indicated resource of 166.7 million tons of metallurgical grade coal including an additional 167.1 million tons of inferred, ASTM Coal Rank mvB coal.
Drilling permits are expected to be in place before the proposed resource definition drill program, planned to commence in July 2012.
The program will collect engineering and geological information to advance a Feasibility Study and also include analysis of coal quality to determine coal product specifications to finalize off-take agreements.
Environmental base line work is ongoing and will confirm with all the requirements in the company’s project description, approved by the BC Environmental Assessment Office last month.
