Atrum Coal NL, and its joint venture partner Japan Oil, Gas and Metals National Corporation (JOGMEC), have commenced exploration drilling at Panorama North Project in British Colombia, Canada.
The project is situated about 15km south-west o Atrum’s flagship Groundhog North Mining Complex in northwest British Colombia.
“We are very pleased to partner with JOGMEC on the exploration of Panorama North. Drilling commenced this week and we look forward to reporting results from the program,” said Atrum’s Executive Chairman Robert Bell.
“The exploration of Panorama North is a very important step in our strategy of developing multiple high grade and ultra-high grade anthracite mines within the Groundhog coal field.”
Earlier this year, Atrum signed an exploration agreement with JOGMEC under which the Japanese corporation reserved the right to acquire an equitable interest of up to 35% interest in Panorama North by investing up to C$5 million towards exploration over three years in a farm in arrangement.
Subsequently, personnel and equipment have been mobilised to sire and drilling has commenced. Artum said it expects to drill around 1,800m of core over an area which is highly prospective for ultra-high grade anthracite.
According to Atrum, the drilling is expected to take approximately one month, with analysis of the core samples to be conducted in the coming week.
The company also announced that all of its Groundhog North coal licence applications have been converted to coal licences by the British Columbian Government. This coal licence application covers an area of more than 800km and comprises 88 granted coal licences.
“The additional licences almost double the area available for active exploration to the Company. Obtaining 42 new coal licences is another positive development providing considerable additional exclusive coal exploration and development rights in the Groundhog area,” Mr Bell said.
“They also provide the company with greater certainty with respect to exploration planning in these areas, which augers well for maximising the overall future potential of Atrum’s various projects in the Groundhog region.”