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Pacific American ready for next round of drilling after extending Elko Coking Coal permit

The new drill program is aimed at completing a pre-feasibility study as well as defining JORC reserves on the property.

Pacific American Holdings Ltd - Pacific American ready for the next round of drilling after extending Elko Coking Coal permit
PAK recently upgraded its high-quality coking coal JORC resource to 303.1 million tonnes

Pacific American Holdings Ltd (ASX:PAK) has secured the Notice of Work (drilling permit) approval for its Elko Coking Coal Project in BC, Canada for a further five years, through to September 2024.

The company is now in a position to commence activities that will support the next exploration campaign, including:

  • Engaging with exploration drilling companies and geophysical coal loggers;
  • Short listing construction companies, coal analytical companies and geotechnical consultants;
  • Finalising a comprehensive list of risk mitigation strategies for exploration;
  • Completing in-field environmental and archaeological surveys; and
  • Working with stakeholders to deliver another successful exploration program.

Figure illustrating the location of the planned drill holes and their proximity to the 2018 drilling program

PAK chairman Geoff Hill said: “These approvals are another milestone for the company as it looks to develop the Elko Coking Coal Project.

“The new information gathered from this drill program is aimed at allowing the company to complete a pre-feasibility study as well as defining JORC Reserves on the property.

“The North American team has worked extensively with the BC government and stake holders to ensure we are delivering on our corporate responsibility of being good stewards of the land.

“The company would like to thank the BC government as well all stakeholders for their valuable comments during the permitting process.

“We are excited to have all permits in hand and have the property drill-ready for the next round of exploration.”

The Notice of Works will allow PAK to:

  • Establish new 12 drill sites, in addition to having the option to explore at the existing sites established during the 2018 drill program;
  • Construct access routes into the property, that is aimed at expanding the projects coal resource base; and
  • Permit the company to complete these works through September 2024.

Quick facts: Pacific American Holdings Ltd

Price: 0.029 AUD

ASX:PAK
Market: ASX
Market Cap: $5.18 m
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