Fortune Minerals (FT-T) has an updated coal resource estimate for its 100%-owned Lost-Fox coal deposit 150 km northeast of Stewart, B.C.
Mining consultants Marston Canada calculated the Lost Fox deposit resource which is estimated to contain a measured 107.9 million tonnes and an indicated 109.5 million tonnes resulting in a demonstrated 217.4 million tonnes. Another 91.5 million tonnes are inferred.
The Lost-Fox deposit on the 150-sq.-km Mount Klappen coal property comprises numerous coal seams, 12 of which are considered potentially mineable. The 2004 resource is based on a new digital block model based on previous work, classified to 43-101 standards. In total 171 diamond and rotary drill holes (24,716 metres), 354 surface trench samples, test mining from 2 adits and a 200,000 tonne bulk sample from open pits (mined in 1985 and 1986) were used in the calculation.
The Mount Klappen property is underlain by interlaminated marine to transitional marine clastic sedimentary rocks. The coal seams are composed of anthracite and vary in thickness up to a maximum of 11.13 metres.
Several feasibility studies have been completed in the past however they do not conform to present standards. A new study is in the works.