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No financial details of the transaction – comprising north and central Naskeena projects – were released.
The company said the 100% acquisition gives it access to the property’s exploration target of 200 to 250 million tonnes and allows it to “lock up” the majority of the Naskeena coalfield with 11,400 contiguous hectares (28,170 acres).
British Columbia was a target for Atrum due to its met coal abundance, solid rail and port infrastructure, deep port access, positive mining stance from government and the region’s shipping distance to Asia.
So far the project has undergone very limited exploration.
However, the company said drilling, sampling, trenching and mapping performed by others in the past had identified a significant coal potential in the area.
“The consolidation at Naskeena is an important strategic milestone for the company, and we now control the majority of the known coal-bearing tenure,” Atrum executive director Gino D’Anna said.
“With shallow, high ranking metallurgical coal, excellent road-to-port access and untested exploration upside, Naskeena is a key priority for [us] going forward.”
The project is located about 50 kilometers (31 miles) north of Terrace, British Columbia, in the Kitsumkalum Valley.
The Prince Rupert and Ridley Coal terminals are about 93 miles away.
