Proactive Investors - Run By Investors For Investors

Pacific American Coal drill results exceed expectations

Lab assays are now pending and will be used for an updated JORC resource.
Notably, drilling suggests the resource continues into the adjoining Central license area

Pacific American Coal Ltd (ASX:PAK) has received initial drilling results from its 100% owned Elko Coking Coal Project in British Columbia, Canada.

A total of 9 holes were completed for 3,451 metres of drilling with all holes intersecting multiple coal seams.

The initial drill hole lithology and preliminary review indicates consistent continuity of geology and that the resource continues into the adjoining Central license area.

The official lab assays are expected in the current quarter, which will be used to update the JORC resource in the coming March quarter.

READ: Pacific American Coal will explain Canadian coking coal strategy at Sydney CEO Session

Pacific American Coal’s chairman Geoff Hill said: “We are thrilled that the initial results from the recent drilling program at Elko are even better than we had expected.

“Our objectives have been to improve the classification of our JORC resources and to understand if our coal seams extend further across the Elko project.

“Early indications are that we have achieved both of these objectives and we are looking forward to updating shareholders on the results from the coal quality work.

“All our efforts over the past 18 months indicate that we have added significant knowledge and value to the Elko project through this exploration program.”

Preliminary review positive for coal seams, continuity, and expansion

Preliminary lithology and gamma logs indicate all drill holes intersected multiple coal seams.

Additionally, preliminary coal seam correlations appear to show stratigraphic continuity between exploration holes.

Notably, drilling indicates that the top seams, previously identified as high-value hard coking Coal target seams, occur between exploration holes and potentially extend into the central block.

View full PAK profile View Profile

Pacific American Coal Ltd Timeline

Related Articles

This Nanocube Memory Ink targets the global multi-billion dollar printed electronics market
February 12 2019
It has an Internet of Things data ink along with Pilbara ground prospective for conglomerate gold.
Drilling equipment on a Yandal site last year in 2018
January 10 2019
The ASX newcomer is backed by Northern Star Resources which holds a 15% stake.
January 31 2019
Last year’s pre-feasibility study demonstrated the project’s large scale, long life and low-cost lithium production.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use