Westcore Energy Ltd. (TSX VENTURE: WTR) said Nov. 26 that an initial coal resource evaluation from the first four drill programs at the Black Diamond Coal Property located near The Pas, Manitoba, Canada.
Black Diamond is jointly held by Westcore (75%) and Goldsource Mines Inc. (25%).
The Black Diamond resource evaluation was completed by Heartstone Consulting Ltd. and was prepared under National Instrument 43-101 standards. The evaluation contemplates coal resources at the Discovery, Cyclops, Ambit, Athena and Calypso deposits. The measured tonnes came in at 40.6 million, with 9.4 million indicated tonnes. This coal is ranked as subbituminous C, with a heat content of 9,500 Btu/lb (dry basis), and dry sulfur content of 2.72% and ash at 23.2%.
These resources are further additions to resources recently reported on the company’s Panther Property (60% owned by Westcore), where the following resources were recently announced for the company’s Quasar Deposit, including measured tonnes at 14.2 million and indicated tonnes at 4.3 million.
Paul Conroy, President and CEO of Westcore, said: “We are very pleased with the initial evaluation of coal resources from Black Diamond. Estimates of approximately two thirds of the overall tonnage in the Measured category and strip ratios of these proportions provide further positive encouragement for the potential mining of Black Diamond. These resource calculations, together with the initial resources recently declared on our Panther Property, further firm up the prospects of development of our area play. We are encouraged by these results and excited at the prospect of further expanding on the coal resources at Black Diamond and Panther with drilling on Luna and other untested targets in future drilling programs.”
The CN railway line that connects Hudson Bay with The Pas is located about 15 kilometers from the northwest corner of the Black Diamond property, said the new report.
There is no known coal development or coal mining in the region, the report said. However, several companies have acquired and are actively exploring similar coal deposits on nearby properties. Goldsource Mines holds the rights to the Border Property located west and adjacent to Westcore’s Black Diamond property. Saturn Minerals Inc. also acquired several nearby coal properties in Saskatchewan and Manitoba. To date, Saturn has completed exploration activities on several of its holdings including their Armit Property in Saskatchewan, and the Overflowing and Rat Creek properties in Manitoba, located adjacent to, and due east of, the Panther property.