The Belcourt and Saxon properties are located approximately 65 to 125 km south of Tumbler Ridge. The Belcourt property comprises two deposits, Belcourt North and Belcourt South, within the same coal trend, for which the resources and topography are favourable to mining. Similarly, the Saxon properties comprise two deposits, Saxon East and Saxon South, within the same coal trend, for which the resources and topography are also favourable to mining.
The Company has a 50% economic interest in the Belcourt-Saxon Coal Limited Partnership ("BSCLP") to further explore and develop the Belcourt and Saxon coal properties. Extensive additional exploration was conducted on the properties and a NI 43-101 technical report ("Technical Report") has been completed and filed on SEDAR (dated January 23, 2009) on the Belcourt deposits. The Technical Report indicates that Belcourt North and Belcourt South have 86 million tonnes of Proven Reserves of metallurgical coal and 167 million tonnes of Measured and 4 million tonnes of Indicated Resources. There is a potential to produce 4 million tonnes of saleable clean coal per year from these properties, thereby indicating 15 years of production can be supported from the defined reserves on these properties.
Further analysis is being conducted to determine when development could commence.
ACCOUNTS PAYABLE (A/P) CLERK
Location: Tumbler Ridge
Heavy Duty Mechanic
Location: Tumbler Ridge
Environmental Technician
Location: Tumbler Ridge
As at March 31, 2009 |
Reserves |
Resources |
Inferred |
||||
|
Proven |
Probable |
TOTAL |
Measured |
Indicated |
TOTAL |
|
Belcourt North |
23.5 |
0.4 |
23.9 |
45.5 |
1.2 |
46.7 |
- |
Belcourt South |
19.4 |
- |
19.4 |
37.9 |
0.9 |
38.8 |
- |
TOTAL |
42.9 |
0.4 |
43.3 |
83.4 |
2.1 |
85.5 |
- |
Notes:
- All coal reserves are run-of-mine (ROM) tonnages. They include provisions for mining dilution and losses, but not effects of coal washing or processing to saleable product.
- Resources are inclusive of the coal used to derive Reserves.
- Belcourt resources from "Technical Report Belcourt Project", Jan 23, 2009. QP's for resources are John H. Henry, P.Geo. and Robert Morris, P.Geo.
