Pacific American Coal Ltd (ASX:PAK) chief executive officer will outline the company’s coking coal strategy centred on British Columbia in Canada during the Proactive CEO Session in Sydney this month.
Mark Sykes, who is also an executive director, will present to investors at the luncheon event in Sydney on Monday, November 19.
The company has the potential world-class Elko Coking Coal Project in the prolific East Kootenay Coal Basin in British Columbia.
A 3,451-metre drilling program was recently completed at the project and the company expects to receive assay results in the near future.
Multiple seams intersected
Multiple coal seams were intersected with the on-time, on-budget 2018 exploration drilling program.
Results will be used to compile an updated JORC-compliant resource estimate in early 2019.
In an update to shareholders, PAK chairman Geoff Hill said: “The board is pleased that the resources applied to the recently completed exploration activity appear to have been well directed with excellent early indications that the drilling has been highly successful.
“Elko continues to prove itself as a potential world-class metallurgical coal project with a JORC resource of over 250 million tonnes.”
Seeking development interest
“To move the project forward from a large undeveloped resource to what could well be a major coking coal mine in British Columbia, the company has commenced the process for seeking interest from various parties to support the future development of the project,” Hill said.
“The future work program includes a detailed scoping study, PFS and BFS as is always necessary to demonstrate the feasibility of the project of this size and nature.”
The chairman said the company was confident the significant and valuable characteristics of the Elko project would be demonstrated by the results of the drilling.
“We believe the market has yet to fully appreciate the value of PAK’s significant coking coal resource,” he added.
The company is also seeking further investment opportunities in the energy and alternative energy sectors.
Register for the CEO Session today to find out more.