Met Coal Vital Component of the Steel Industry

The Aries Project

Large coking coal deposit

One of the few remaining large, untapped and well-defined coking coal deposits
Project Facts

Project Facts

(November 12, 2014 – NI 43-101)

Resource Estimate

392 Mt Measured and Indicated with additional 105 Mt Inferred coking coal

Production Estimates

3 to 5 Mt clean coal per annum, with potential upside

Coal Quality

High volatile bituminous coking coal with an FSI of 7.5, volatile matter of 30.5%, ash of 9.5% and low sulphur of 0.6% (all on dry basis)

Past Drilling

601 drill holes completed (1970 – 2014)


Excellent jurisdiction and infrastructure

West Central Alberta, Canada mining area with access to road, rail, port, power, and labour; Best mining jurisdiction in Canada*

* Fraser Institute, "Annual Survey of Mining Companies 2013," March 2014

  • Labour

    40km from existing towns and an established labour pool
  • Roads

    Access to property via secondary roads
  • Rail

    30km from railhead serviced by CN Rail; connection to CP Rail at Red Deer
  • Power

    Electrical power readily available; high voltage transmission lines within project area
  • Port

    Available port capacity at Ridley Coal Terminal; Westshore Coal Terminal being expanded; Fraser Surry Docks in permit application phase for coal handling system

The Plan

Permitting completed over two years followed by a two year construction period

Planned clean annual coal production of 3-5 Mt

Development Work to Date

  • 495 drill holes completed between 1970 and 1981 for a total of 51,504m of drilling
  • Suitable underground portal sites have been identified
  • Work completed by Consol Energy and its predecessors:
    • Coal washability testing (1974)
    • Preliminary engineering and economics study (1981)
    • Drilling program analytical report (1981)
    • Preliminary engineering and economics study (1982)
    • Feasibility study (1989)
  • Independent review by John T Boyd Company (June 2011)
  • Bulk sample drill program comprising 13 holes for a total of 826m completed (Q4 2012)
  • Independent review by John T Boyd Company (February 2013)
  • 93 holes drilled for a total of 11,408m, including 2 bulk samples (2013)
  • Preliminary Economic Analysis by Norwest Corporation (2014)
  • NI 43-101 Technical Report by Norwest Corporation (November 12, 2014)

Track Record

Founders with proven track record of resource investment and development

Significant shareholders: Liberty Mining & Metals, Lundin Family Trusts, CD Capital


Experienced Management Team

A senior management team with in-depth experience in project development, surface and underground mining operations, and finance

Geology and Resource Base

Aries Project Coal Geology and Resource Base (NI- 43-101 November 12, 2014)

Two Seams - Cross Section

Resource Estimate
In Situ Coal 392 Mt (M&I)
105 Mt (Inf)
Total 497 Mt

Profile of Seams
Average seam thickness
No. 3 3.5 m
No. 2 2.0 m
Average seam wash yield (PEA April 2014)
No. 3 58 to 65%
depending on mining method
No. 2 62%