— Photo courtesy Crowsnest Pass Blogspot According to a recent Crowsnest Herald newspaper article, Altitude Resources Inc., a Calgary based company
— Photo courtesy Crowsnest Pass Blogspot
According to a recent Crowsnest Herald newspaper article, Altitude Resources Inc., a Calgary based company has signed an agreement to acquire up to 51% interest in Elan Coal Ltd., a private Canadian coal exploration and development company, based in Calgary. The 51% interest option gives Altitude interest in 22,000 hectares of coal leases in the area, as well as the right to conduct further exploration. The leases run adjacent to Grassy Mountain property purchased in January by Australian firm Riversdale Resources who plan to start coal testing in the fall.
Gene Wusaty, president and CEO of Altitude Resources said, “It’s a win-win situation for both companies. Elan is a private company and this partnership gives them the finances to help the project take flight”.
Altitude Resources, and Edmonton based Exploration Company, Dahrouge Geological, are doing exploration field work and a drilling program in the region.
“This will kick off a long-term development program”. It is the plan of Altitude to have a pre-feasibility study within an eighteen-month period. “The property has already been the site of substantial exploration work dating from 1940 to 1970s with nine different companies”.
CEO Wusaty said, “this project is 15 km east, across the mountain from as the Crow Flies, to Teck’s Greenhill and Fording River Operations and contains the same geological structure”.
The actual mining would take place in the Municipal District of Ranchlands. The Municipality of Crowsnest Pass is currently wanting to annex the land, a situation that must be approved by the Alberta Government. The MD of Ranchlands, however, is not interested in the annexation proposal.
