Altitude Resources acquires new coal leases in Alberta

Altitude Resources (TSX VENTURE: ALI) announced March 10 that it has acquired new Alberta Crown coal lease applications adjoining its Altitude North property in west central Alberta.

Historic Alberta government exploration reports show multiple coal outcrop sampling and testing indicating the coal rank to be mid-vol coking coal. The additional coal leases cover an area of 2,368 hectares and are located near Grande Cache, Alberta, approximately 50 kilometers north-west of the company’s Palisades Coal Project. The addition of the new leases increases the company’s land position at its Altitude North Project to approximately 7,613 hectares.

Gene Wusaty, President and CEO of the company, said: “We are adding coking coal properties with favourable historical coal quality and geological structure to our Altitude North Project portfolio. We will be mobilizing a field reconnaissance program for Altitude North later this year to sample the coal outcrops and identify future drill targets.”

Altitude Resources is a Canadian coking coal company focused on developing its Palisades Coal Project located northwest of Hinton, Alberta, the Elan Project through its participation in Elan LP, and the Altitude North Project near Grande Cache, Alberta. All the projects are located in close proximity to rail which has capacity to provide transport of coal to deep-water ports on the west coast of Canada to service the growing demand from world markets.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.