The coal deposit is located in the Peace River Coalfield of north eastern British Columbia and covers an area of about 3,800 hectares.
Lossan is surrounded by a group of licences recently purchased by Xstrata through the acquisition of First Coal Corporation.
The acquisition of Lossan, which is expected to be completed next week, lifts Xstrata’s total tenure in the Peace River Coalfield to almost 100,000 hectares.
According to the company, Lossan has an NI 43-101 compliant resource of 240 million tonnes, with 186 million tonnes being in the measured and indicated categories.
