Elan Hard Coking Coal Project

Atrum’s flagship asset is the 100%-owned Elan Hard Coking Coal Project which is located in the Crowsnest Pass area of southern Alberta, Canada. Elan hosts large-scale, shallow, thick, Tier 1 hard coking coal (HCC) deposits of the Mist Mountain Formation.

Following significant exploration and field work programs in 2018 and 2019, Elan possesses a current JORC Resource estimate of 454 Mt (142 Mt Indicated and 312 Mt Inferred). Comprehensive quality testing, combined with review of substantial historical testwork data for the broader Elan Project, has confirmed Tier 1 HCC quality (Coke Strength after Reaction ranging from 69 – 71).

The Crowsnest Pass is a well-established mining province. The Elan South Project area is located 13km from an existing Canadian Pacific rail line with significant excess capacity, providing direct rail access to export terminals in Vancouver and Prince Rupert. Elan South shares its southern boundary with Riversdale Resources’ Grassy Mountain Project, which is in the final permitting stage for a 4.5 Mtpa open-cut HCC operation.

Around 30 km to the west of the Elan Project, Teck Resources Ltd operates five mines (the Elk Valley complex) producing approximately 25 Mtpa of Tier 1 HCC for the seaborne market. The coal seams at Elan correspond to those horizons of the same Mist Mountain Formation found in the Elk Valley HCC mines, and have similar rank ranges.

A Scoping Study to evaluate development of the Elan Project, incorporating mining of both the Isolation South and Elan South areas, was completed in April 2020.

The Company is not aware of any new information or data that materially affects the information included in the website.

In the case of estimates of Mineral Resources, the company confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.


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