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Altitude Resources Inc.: Palisades project update

Published by
World Coal,

Altitude Resources Inc. has provided an update on the 2015 exploration programme at its Palisades Project, which was carried out in association with its joint venture partner, Japan Oil, Gas and Metals National Corporation (JOGMEC). Dahrouge Geological Consulting Ltd of Edmonton oversaw both the field reconnaissance and drilling programs.

The Palisades field reconnaissance was carried out in May/June 2015 and was followed up by an access construction and drilling programme that began in mid-August and was completed on 10 October. A total of 23 holes were drilled, out of which 20 were rotary and 3 were core. The total meterage of the 23 holes was 2797 m.

A total of 13 rotary hole samples were shipped to Birtley Laboratory in Calgary for proximate and petrographic analysis. An additional 3 core hole samples were sent to Pearson Coal Petrography of Vancouver for coal rank classification and quality analysis. Altitude's Alberta Energy Regulator-issued drill permit for the Palisades Project is valid through the 2016 exploration season.

Altitude President and CEO, Gene Wusaty commented on the recent exploration activities: "We are very pleased with our ongoing exploration activities at our Palisades project in cooperation with JOGMEC. The field work at Palisades in 2015 will provide for an updated 43-101 compliant report that will contain new resources and coal quality information. It is expected that the report will be released later this year."

The Palisades coal project is located approximately 30 km north of the Yellowhead Highway (Hwy 16) and Highway 40 North, near Hinton, Alberta. Altitude's properties are in close proximity to CN rail, which services the Grande Cache mine to the northwest. Historical work in this area, reported as the "Hoff Property", included drilling programs first by Rio Tinto Canada (1969) and then Denison Mines (1982-83). A National Instrument (NI) 43-101 study was carried out by Moose Mountain Technical Services in November 2011 on the original Palisades property. Coal rank is low volatile bituminous coal. Altitude also owns the Palisades Extension, Moberly Creek and Altitude North properties, which are in the initial stages of exploration. Altitude is also part of a Joint venture on the Elan Coal Project located in southwestern Alberta.

Edited from press release by

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