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 over the last three years. Elan possesses a current JORC Resource estimate of 486 Mt (7 Mt Measured, 228 Mt Indicated and 252 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.
A Scoping Study to evaluate development of the Elan Project was completed in April 2020. An updated Scoping Study was completed in December 2020.
As a result of the Government of Alberta’s indefinite moratorium on coal exploration and development, Atrum cannot proceed with the Elan South Project. However, information about the Project prepared prior to the moratorium is included above.
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.