The company intersected multiple coal seams with its on-time, on-budget 2018 exploration drilling program at the wholly-owned project.
PAK drilled nine holes and is working towards an updated JORC-compliant resource estimate for Elko’s coal assets in early 2019.
The company expects initial results from its drilling efforts later in the December 2018 financial quarter.
PAK chairman Geoff Hill told the market: “Completion of this phase of the exploration and evaluation process at Elko is a significant milestone for what is shaping up as potentially a world-class coking coal asset.
“We have now proven we can successfully gain the necessary regulatory approvals, access the site, and through drilling identify substantial amounts of coal on the property.
“Once we have the results from the analysis of the coal extracted, we will be in an excellent position to continue the process we have commenced to attract off-take and funding partners.”
PAK completed its works without lost-time injuries and has completed remediation and restoration work and demobilised the drilling and construction equipment used in its latest campaign.
The company was visited by the British Columbia government for its annual audit on September 11 with no major issues found and the government reportedly pleased it had met all regulatory requirement.
PAK has the green-light to continue exploring the project until May 2022.