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Naskeena Coal
Texas Oil and Gas
Canadian Gold
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 | Lost for a Century Northern British Columbia hosts abundant coal reserves. As far back as 1800, prospectors worked remote areas of the province in search of mineral wealth. It was in 1914 that G.F Monckton filed a report on the Naskeena Claims. In it, he outlined a significant coal property covering some 83 square kilometers (32 square miles). The location he reported lay south of the Little Cedar River, and east of the Cedar River. It was an important prospect, he thought. So did those who would read his report years later. When they set out in search of the coal, incredibly, they found very little of interest. No wonder. Subsequent prospectors for nearly one hundred years all looked in the wrong place. Newer maps, it turns out, had been drawn with the Little Cedar on the west of the Cedar, rather than the east where Monckton had it. So for nearly a century, the rich coal prospect G.F. Monckton discovered in northern BC sat there untouched. That is, until last year. Geologists approached Jet Gold management claiming they had found Monckton's original map, re-visited the location he defined, and, sure enough, the rich coal prospect was there, just as Monckton had described in his 1914 report. Jet decided to investigate, and send its own people to the property. They confirmed what others had said, and Jet acquired the property. Based on Monckton's report, the company is about to organize a work program to confirm original findings, including the conclusion that the coal located at Naskeena contains a high level of carbon at 76 per cent, low ash and importantly, low sulphur. The property stretches for twelve miles and is up to two-and-a-half miles wide. Much of the coal appears to sit close to the surface. Commenting on the possible amount of coal on the property, Monckton made the following observations: The coal series is remarkable for its regularity as compared with most coal fields in these mountain regions, but if we allow one-fifth of the area for barren ground not workable to a substantial profit, we should still have around 15,000 acres of coal available. Supposing that only ten feet of coal was found to be workable, an absurdly small amount in view of my present indications, this would give us a total of 240 million tons after making due allowance for the slope of the seams, and reckoning an extraction of 12,000 tons to the acre. Of this, one hundred and ninety million tons would be above the railroad level. In other words, Monckton claims to have found a large, relatively high grade coal deposit much of which can be mined at low cost because it is close to surface and, because much of the deposit lies above rail grade, won't have to be hauled up to transportation. The property is bisected by a paved road, is 27 miles from the Terrace BC rail head, and has been surveyed for rail access. The Naskeena coal prospect compliments JAU's existing energy holdings, which continue to provide cash flow to the company. Atlin Gold JAU has secured an option to acquire a highly prospective gold property located on Consolation Creek in the Atlin Mining Division of British Columbia. The property is comprised of a block of 18 claims that cover the highest gold sample taken by the BC Geological Survey during its Atlin Area Regional Geochemical Stream Silt Reconnaissance Survey. The sample was taken from the silts in Consolation Creek, which drains Surprise Mountain immediately northeast of the town of Atlin, B.C. As part of the Agreement, the Company has also acquired two gold Placer Leases which overlie the hardrock claims. The area is highly prospective for placer gold as well. The valley has not been previously mined for placer gold on a large scale, probably due to the glacial cover that has numerous large boulders covering the underlying native streambed. The size of the boulders prevented early prospectors from accessing the underlying gravels. The company expects that with the use of modern excavating equipment a placer mining operation is possible. | ||
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