Coalspur granted a Mine Permit by the Energy Resources Conservation
Existing Processing Plant Approval also transferred to Coalspur by the
Mine Permit and Processing Plant Approvals further de-risk the Vista
Coal Project and will underpin the current Bankable Feasibility Study
PERTH, Western Australia, May 13 /CNW/ - Coalspur Mines Limited ("Coalspur" or "Company") (ASX: CPL, TSX: CPT) is pleased to announce that Coalspur Mines (Operations) Ltd, a
wholly-owned subsidiary of the Company, has been granted a mine permit
and coal processing plant approval (the "Permits") from the ERCB in
relation to the Company's Vista Coal Project ("Vista") located in Alberta, Canada.
Managing Director and CEO Gene Wusaty said, "The granting of the Permits
represents a significant regulatory achievement which now allows
Coalspur to progress the BFS and pre-construction planning for the
Vista Coal Project with a much higher degree of certainty. As the BFS
progresses, we will continue to refine the mine plan and all other
technical aspects of Vista to optimize its productive potential, as
well as any other required regulatory approvals."
The Permits were granted by the ERCB pursuant to the Coal Conservation
Act (Alberta) as follows:
Mine Permit - granted to Coalspur Mines (Operations) Ltd (permit number C 2011-5)
to develop a surface coal mine in the McLeod River area to be
designated as Mine No. 1815;
Coal Processing Plant Approval - granted to Coalspur Mines (Operations) Ltd (approval number C 2011-3)
to construct and operate a coal processing plant in the McLeod River
area for the production of up to a maximum of 4,200,000 tonnes of clean
coal per year and to be designated as Coal Processing Plant No. 8.
The receipt of the Mine Permit and Coal Processing Plant Approval
completes the transfer process initiated in November 2010 following the
acquisition of the McLeod River North Block and Z Block coal properties
that completed in October 2010.
The Mine Permit covers an area of 4,880 hectares and stipulates that all
mining and related activity be in accordance with the original 1982
applications and supplemental filings and any subsequent technical
information that the ERCB may approve. Coalspur will be required to
obtain ERCB approval for any technical modifications to the development
plan before effecting such modifications.
Coal Processing Plant Approval No. C 2011-3 requires Coalspur to submit
to the ERCB for approval prior to the commencement of construction
design and location amendments to meet the requirements stipulated in
the permit including clearance of the plant and ancillary
infrastructure from the mining area adequate to allow mining to a
minimum depth of 150 meters. Coalspur will also be required to limit
the first stage construction of the tailings pond to a 5-year capacity,
investigate the merits of increasing tailings recycling and keep the
ERCB informed of progress.
The Permits will expire on December 31, 2016 unless Coalspur satisfies
the ERCB by no later than October 1, 2016 (unless the ERCB stipulates a
later date) that construction has commenced. Construction is currently
scheduled to commence in 2012.
Coalspur will work within the framework of the terms of the Permits
while it progresses the current BFS (particularly in respect to the
mine plan) and any other technical work. As the BFS and associated mine
plan progress, the Company will seek to increase the allowable tonnage
of clean coal produced under the Coal Processing Plant Approval and
also apply for any other regulatory requirements necessary to develop
the Vista Coal Project.
The full version of this news release is available on the Company's
website at www.coalspur.com and SEDAR at www.sedar.com.
For further information regarding the Vista Coal Project and Vista South
Project, including a description of Coalspur's quality assurance
program, quality control measures, the geology, samples collected and
testing procedures in respect of the projects, please refer to the
technical report on the Vista Coal Project titled "Vista Coal Project
Prefeasibility Study" dated January 25, 2011 and the technical report
on the Vista South Project titled "Resource Estimate for the Vista
South Coal Property" dated December 15, 2010 , which are compliant with
National Instrument 43-101 - "Standards of Disclosure for Mineral
Projects" ("NI 43-101") and are available for review on SEDAR at
Competent Person / Qualified Person Statements
All scientific and technical information in this news release is based
on information compiled by Mr. Eugene Wusaty, who is a Member of the
Association of Professional Engineers and Geoscientists of Alberta. Mr.
Wusaty is a full-time employee of Coalspur. Mr. Wusaty has sufficient
experience which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is undertaking
to qualify as a "Competent Person" as defined in the JORC Code, and a
"Qualified Person" under NI 43-101. Mr. Wusaty consents to the
inclusion of such information in this news release in the form and
context in which it appears.
Forward Looking Statements
This news release contains 'forward-looking information' that is based
on the Company's expectations, estimates and projections as of the date
on which the statements were made. This forward-looking information
includes, among other things, statements with respect to the Company's
permits and approvals, business strategy, plans, development,
objectives, performance, outlook, growth, cash flow, projections,
targets and expectations, mineral reserves and resources, scoping,
pre-feasibility, bankable feasibility and other studies, results of
exploration and related expenses. Generally, this forward-looking
information can be identified by the use of forward-looking terminology
such as 'expect', 'potential', 'outlook', 'anticipate', 'project',
'target', 'likely', 'believe', 'estimate', 'intend', 'may', 'would',
'could', 'should', 'scheduled', 'will', 'plan', 'forecast', "evolve"
and similar expressions. Persons reading this news release are
cautioned that such statements are only predictions, and that the
Company's actual future results or performance may be materially
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking information. Forward-looking information is developed
based on assumptions about such risks, uncertainties and other factors
set out herein, including but not limited to the risk factors set out
in the Company's Annual Information Form. This list is not exhaustive
of the factors that may affect our forward-looking information. These
and other factors should be considered carefully and readers should not
place undue reliance on such forward-looking information.
The Company disclaims any intent or obligation to update or revise any
forward-looking statements whether as a result of new information,
estimates or options, future events or results or otherwise, unless
required to do so by law.
SOURCE Coalspur Mines Limited
For further information:
Managing Director and CEO
Telephone: +1 403 975 7901