New JORC Estimate For Canadian Project Upgraded To 172Mt
Montem Resources Limited (ASX: MR1) has increased the coal Resource Estimate for the Chinook Project has by 23Mt to 172Mt (108Mt Indicated and 64Mt Inferred) in its recently completed JORC Resource Estimate update.
The Chinook Project in Alberta, Canada is made up of two areas, Chinook Vicary and Chinook South. The Project is located entirely within 1976 Coal Development Policy for Alberta Category 4 lands. Along with the 172Mt coal Resource Estimate, the Project also contains a coal Exploration Target Estimate of an additional 125Mt to 450Mt1 at Chinook Vicary.
Managing Director and CEO, Peter Doyle, said the JORC Resource Estimate update is located in the Vicary Domain, which makes up the central portion of the Chinook Vicary area.
The Vicary Domain was the target of Montem’s 2020 exploration drilling programme which confirmed the occurrence of near surface, structurally thickened coal seams suitable for future open-cut extraction.
Coupled with a detailed review of historical data, this Resource Estimate update is a direct result of the Chinook Vicary 2020 drilling program. Coal quality results from the 2020 drilling programme were exceptional with working section clean coal composite producing high simulated plant yields with low ash: 9.1%; low volatile matter: 21.4%; low total sulphur: 0.48%; favourable rank (RoMax): 1.31%; and outstanding CSR: 70, confirming that the Chinook Vicary coal attributes fit precisely in the specification range to be marketed as a “Premium Low Vol Hard Coking Coal”
“We are very pleased with the significant increase of the JORC Resource Estimate for the Chinook Project,” Mr Doyle said.
“This upgrade of the resource is the result of new information from the 2020 exploration which led to a re-interpretation of the geological model for Chinook.
“This updated Resource Estimate follows announcements detailing the excellent coal quality results received from the 2020 drilling program, as well as the positive Scoping Study we completed for the Chinook Project in early 2021.
“The combined 172Mt of Indicated and Inferred resources at Chinook confirm that the Project holds substantial hard coking coal Resources. These results further validate Montem’s vision of developing the Chinook Project into an open-cut premium hard coking coal operation, with development of the Vicary Domain targeted as the priority.
“The next step is to drill out the remaining areas included in the Scoping Study mine plan and progress to a Pre-Feasibility Study. As the entire Chinook Project lies within Alberta 1976 Coal Development Policy Category 4 land, we are able to continue exploration and project planning. We are excited by Chinook and look forward to the next phase of development.”
For further information please visit: https://montem-resources.com/
