Athabasca Minerals Announces Opening of Coffey Lake Public Pit and Provides Corporate Update - Seite 2

Coffey Lake Public Pit
On March 21, 2020, the first gravel trucks were loaded, scaled and trucked out of Coffey Lake, generating sales and revenue for the Company ahead of the Q2-2020 schedule previously announced in AMI’s December 12, 2019 investor call. The Coffey Lake contract has a 15-year scope, where quality aggregates will be produced to satisfy a region with consistently high demand volumes from large-scale industrial oilsands operators with ongoing road maintenance, infrastructure and sustaining capital projects.

Coffey Lake is located on 335 hectares (800 acres) of land, 90 kilometers from the city of Fort McMurray and 45 kilometers from Fort McKay in the heart of oilsands major industrial operations. For more information about Coffey Lake, go to www.coffeylakepit.ca.

A Media Snippet accompanying this announcement is available by selecting the image or link below:

True North Staging Hub – Commercial Lease Approval
On March 18, 2020, Alberta Environment & Parks granted AMI a disposition for a commercial lease for stockpiling and crushing aggregates on 30 hectares (72 acres) of land, strategically located 7 km from the Coffey Lake Public Pit at Highway-63 junction, in the vicinity of oilsands industrial operations. AMI’s True North Hub adds further value with supplementary services for aggregate crushing, processing and inventory management.

The True North Hub is planned to be developed and commissioned in Q2-Q3, 2020. Site clearing, ground works, hub infrastructure, weigh scales, and set-up of aggregate crushing equipment will be executed upon receipt of local permits from Regional Municipality of Wood Buffalo. Permit applications have already been submitted for approval.

Buckhorn Quarry Joint-Venture (near Greater Toronto Area)
AMI is expanding its business interests into southern Ontario with the Buckhorn Joint Venture (JV), together with partner, MGT Management Inc. (www.mgtmanagementinc.com). The proposed Buckhorn Quarry, located near Peterborough, is geologically situated in the Gull River Formation on 300 acres of land, approximately 90 km from the Greater Toronto Area. AMI and MGT are planning to supply a variety of products based on a phased development program, to produce high-value armour stone, crushed aggregates, and limestone fines for construction, civil /environmental stabilization, and agricultural sectors. Environmental field work expect to be conducted in Q2-Q3, 2020 to support regulatory /permit applications which are planned for submission in the fall of 2020. The Buckhorn JV is scheduled to be operational by Q2, 2021, subject to permit approval.