Coalspur Mines Limited (ASX:CPL) Quarterly Report For The Period Ending 30 September 2009
Perth, Nov 2, 2009 AEST (ABN Newswire) - The Board of Coalspur Mines Limited (ASX:CPL) is pleased to present its September 2009 quarterly activities report. Highlights during the quarter include:
An additional Coal Resource estimate of 128.1 million tonnes of low sulphur, high volatile, bituminous C thermal coal was completed at Hinton West.
The Company's total Coal Resource is now 467.3 million tonnes for the Hinton Coal Project ("HCP") located in Alberta, Canada. Of this, the Measured and Indicated Resources comprise 421.6 million tonnes or 90.2% of the total Coal Resource.
Mr Gene Wusaty, a highly respected Canadian coal industry executive, was appointed to the Board as Managing Director and CEO. Mr Wusaty has been responsible for the commissioning of four operating coal mines in the last six years.
The Company commenced work on a scoping study on the HCP which is expected to be completed during the December 2009 quarter.
Following shareholder approval, the Company changed its name to Coalspur Mines Limited (ASX Code: CPL) to reflect its new coal focus and association with the Canadian coal mining industry.
A review of the infrastructure available within the HCP area identified existing critical infrastructure in close proximity to the HCP, including rail, roads, power and other infrastructure.
The Directors believe that the current Coal Resource and associated coal quality assessment have confirmed the HCP's potential to deliver a large scale, open-pit, thermal coal operation.
Hinton Coal Project - JORC Coal Resources------------------------------------------- Measured Indicated Measured & (Mt) (Mt) Indicated-------------------------------------------Hinton East 210.8 85.3 296.1Hinton West 87.6 37.9 125.5Total CoalResource 298.4 123.2 421.6-------------------------------------------------------------------------------------- Inferred Measured, Indicated (Mt) & Inferred (Mt)-------------------------------------------Hinton East 43.1 339.2Hinton West 2.6 128.1Total CoalResource 45.7 467.3-------------------------------------------
For the complete Coalspur Mines Quarterly Report for the period ending 30 September 2009, please click the link below:
http://www.abnnewswire.net/media/en/docs/61679-ASX-CPL-467128.pdf
About Coalspur Mines Limited
Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
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