Jun 27 2017
Altitude Resources Inc. is pleased to announce the receipt of formal Alberta Government approval for a drill program at its Palisades property located in west - central Alberta, Canada. The Palisades drill permit is valid for two years.
The 2017 drilling program is expected to consist of up to 2,000 meters of combined rotary and core drilling. The budget for the 2017 Palisades exploration program is $1,200,000. Drill targets include a new area defined in the 2016 program and, for the first time, drilling in Palisades Extension. The Palisades property is operated through a joint venture agreement between ALI (68.125%) and JOGMEC (31.875%).
At the Company's Altitude North property (100% owned), a two phase program is planned for 2017 to better define the potential coal resource and its metallurgical coal quality properties. Recently, Altitude announced that it had increased its land position at the project to 14,080 ha. The Altitude North project is strategically located adjacent to the Grande Cache coking coal mine in northwestern Alberta. Based on a 2015 field program carried out by Dahrouge Geological, Phase 1 of the 2017 program will consist of a 2-3 weeks of detailed geological mapping, trenching, and drill hole targeting. Data collected during this field program will be used to plan and complete a coal exploration drill permit for a Phase 2 Resource and Coal quality drill program.
Commenting on the upcoming program, Gene Wusaty, President and CEO said, "Altitude is planning aggressive 2017 field programs for Palisades and Altitude North. The Palisades planned 2017 drill program and the Altitude reconnaissance program will both commence in early July. It is expected that technical reports for both programs will be completed in the Q4 2017."
Gene Wusaty, Altitude's Chairman, a qualified person as defined by NI 43-101, supervised the preparation of the technical information in this release.