Canada Coal Inc. (TSXV:CCK) announced that it is working towards acquiring 11 coal exploration licences within the Fosheim Peninsula region on Ellesmere Island, which will add an additional 280,000 acres to Canada Coal’s project area in key areas.
As quoted in the press release:
Multiple high quality thermal coal deposits were discovered on the Company’s arctic coal license areas located in Nunavut through its 2012 exploration program. Well over 100 coal seams on the Company’s Fosheim Peninsula project area were assessed, resulting in the identification of extensive zones of low-sulphur, low-ash, subbituminous, thermal coal. The Fosheim Peninsula is the company’s primary exploration target and one of six coal license areas currently owned by the Company.
Canada Coal’s President and CEO, Braam Jonker, said:
These strategic acquisitions fortify the company’s coal license holdings in key areas identified throughout the 2012 exploration program. Additional acreage has been applied for in order to extend property borders in areas where high quality thermal coal was discovered with low sulphur and low ash content.