Coalspur passes 1Bt milestone

NOT long after listing on the Toronto Stock Exchange, explorer Coalspur has increased its Canadian thermal coal resources by 168.3 million tonnes – taking the total to 1.07 billion tonnes.

Blair Price

The boost came from the maiden resources defined at the Vista South project, with this project formed after a spree of lease acquisitions over the past six months.

Total measured and indicated resources account for 84% of the total resource.

“Although our ongoing pre-feasibility study is focused on the Vista coal project we will restart drilling Vista South later this year and continue to advance our understanding of this area which can provide a significant upside to our current Vista coal project,” Coalspur managing director Gene Wusaty said.

Coalspur shares are up 3.9% to $1.32 this morning.