Fortune Minerals Ltd.(TSX:FT) announced that it has renamed its BC Mount Klappan Coal project the Arctos Anthracite project.
As quoted in the press release:
Arctos is one of the world’s premier metallurgical coal deposits and the most advanced Canadian deposit of high rank anthracite coal – a key ingredient in steel and metal processing. Previous expenditures total over $90 million and have resulted in Measured Resources of 107.9 million tonnes, Indicated Resources of 123.0 million tonnes and Inferred Resources of 359.5 million tonnes.
Fortune, President and CEO, Robin Goad, commented:
The previous name led some people to believe that the project would involve mining the entire mountain, which is incorrect.In fact, our proposed mine involves an area north of the main peak around Lost Ridge.