Colonial Announces Receipt of Work Permit for Its Flatbed Property
Colonial Coal pleased the market by announcing the receipt of a Phase 1 Work Permit for its Flatbed property
located in the prolific Peace River Coal region of British Colombia, Canada.
The Flatbed property abuts properties owned by Teck and Peace River Coal.
Flatbed is considered to have good potential for a new high quality coking coal discovery, and the first drill
results will be eagerly awaited.
Our comment
This is a very positive step for Colonial, due to the proximity of Flatbed to properties owned by Tech and Peace River Coal, and the proximity to the recent declaration of a 7 billion ton discovery of high quality Coking (metallurgical) coking coal, owned by the Chinese funded Canadian Dehau. http://www.globaltimes.cn/content/842491.shtml
Flatbed has the potential to host a significant deposit of high quality coking coal.
VANCOUVER, BRITISH COLUMBIA, Sep 22, 2014 — Colonial Coal International Corp. {TSX.V: CAD} is pleased to announce that the British Columbia Ministry of Energy and Mines (MEM) has issued a Work Permit to the Company to conduct Phase 1 of its Notice of Work (NOW) application on its Flatbed property. This phase encompasses a total of 48 drill holes and 12.2 kms of access trail. The permit is valid until October 30th 2018. MEM is proceeding with their review of Phase 2 of the NOW application.
The Flatbed property is comprised of seven coal licenses that cover a total of 9,077 hectares. Colonial Coal has also applied for three additional coal licenses covering an area of 2,400 hectares with respect to this property.
The Flatbed property borders portions of the Quintette (Teck), Trend (Peace River Coal) and Duke Mountain (Teck) properties. The Company previously announced (January 29, 2013) that, based upon a review of various data from in and around the Flatbed property, the Company’s geological consultant identified three targets worthy of future exploration aimed at the location of underground mineable metallurgical coal deposits for seams targeted at depths between 200 metres and 600 metres.
The Company is reviewing its options to finance exploration of the Flatbed property, including the possibility of joint venturing the property.
This press release has been reviewed by John Perry, a director of the Company and a Qualified Person as defined in National Instrument 43-101.
About Colonial Coal International Corp:
Colonial is a publicly traded pure-play coking coal company in British Columbia. The northeast Coal Block of British Columbia, within which Colonial’s projects are located, hosts a number of proven deposits, and has been the subject of M & A activities by Xstrata, Walter Energy, Anglo-American and others.
Additional information can be found on the Company’s website www.ccoal.ca or by viewing the Company’s filings at www.sedar.com.
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