NI 43-101 Resource Estimate Released for Elan Coal’s Alberta Project

Altitude Resources Inc. (TSXV:ALI) announced, on behalf of Elan Coal Ltd., an initial NI 43-101 coal resource estimate for Elan’s Alberta coking coal project. It consists of 62.14 million metric tons (MT) in the indicated mineral resource category and 84.72 million MT in the inferred mineral resource category.

As quoted in the press release:

The Coal Resource estimate is based on historic data from 82 rotary holes, 127 diamond drill core holes, 19 adits, 21 coalbed methane wells, and a significant amount of trenching in the tenements. Coal exploration on the Elan properties began in 1949 and continued intermittently until 1976. Additional coalbed methane exploration was completed between 1971 and 2002. The coal resource figures presented in Table 1 are from a Resource Summary Letter prepared by Dahrouge and are the basis for a final NI 43-101 compliant Technical Report to be issued later this year. . As part of this Resource Summary Letter, Dahrouge has also outlined several exploration targets and proposed drill programs for Elan.

Andrew Wusaty, president and CEO of Elan, commented:

This maiden resource report on Elan’s lease applications is based entirely on historic data and no recent drilling has been carried out. Altitude is presently working on organizing an exploration program which will include drilling and coal quality work on the Elan property. We are anticipating that it will be carried out late this year and into early 2014.

Click here to read the full Altitude Resources Inc. (TSXV:ALI) press release.