Giving you all the latest in Stock Market Information as it happens...


Coalspur Additional Coal Leases

The Board of Coalspur Mines Limited (“Coalspur” or “Company”) is pleased to advise that it has further expanded its coal lease position with the acquisition of additional Alberta Crown Coal Leases adjacent to the Vista South Project (“VSP”). The additional coal leases cover an area of 3,616 ha and are adjacent to the VSP. The addition of the new leases increases the Company’s land position in the area to approximately 32,000 ha. As previously advised the Company is currently undertaking a drilling program to provide an initial resource estimate for the VSP. The program was designed to also include parts of the new coal leases, with a view to expanding the targeted coal deposit area at the VSP. Commenting on the acquisition of the new leases the Company’s Managing Director and CEO, Mr Gene Wusaty, said “Our ongoing assessment of the geological information for the VSP has highlighted the prospectively for coal in the new areas that we have been able to secure from the Alberta Coal public offering process. The drilling program currently underway at the VSP will allow us to test our analysis in the very near future.” The VSP is located immediately to the south of the Vista Coal Project, which has a Coal Resource of over 900 million tonnes of low sulphur, high volatile bituminous, export quality thermal coal with over 810 million tonnes (90%) of the resource in the Measured and Indicated category. The drilling program is designed to enhance the geological and resource understanding of the Entrance Syncline coal structure, which occupies the major portion of the VSP area. It involves drilling on the nose area on the northwest end of the property, and along the north limb of the syncline which has a very long strike length of approximately 24km. The recently started program includes 20 rotary drillholes targeting three specific areas. Results from this program are expected to be available in the December 2010 quarter and will be combined with the results from the drilling conducted on the VSP in the 1970s and 1980s.