Colonial Coal {TSX.V: CAD} have announced a significant new discovery after their first drill campaign on their Flatbed property, located in B.C., Canada.
The near 300 million tons inferred resource adds their already declared 400 million tons at their Huegenot property, located in the prolific Peace River Coal region.
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Colonial Coal announce a significant discovery at Flatbed.
Colonial Coal {TSX.V: CAD} have announced a significant new discovery after their first drill campaign on their Flatbed property, located in B.C., Canada.
The near 300 million tons inferred resource adds their already declared 400 million tons at their Huegenot property, located in the prolific Peace River Coal region.
Colonial releases NI 43-101 Flatbed resource estimate
2017-11-27 09:19 ET – News Release
Mr. David Austin reports
COLONIAL COAL ANNOUNCES INITIAL FLATBED RESOURCE ESTIMATE
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Colonial Coal International Corp. has recently completed its previously announced first phase of its coal exploration program on its 100-per-cent-owned Flatbed coal project located in northeast British Columbia (see news release dated Oct. 30, 2017).
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Geologic modelling and resource estimation of the Flatbed exploration results, carried out by Norwest Corporation (“Norwest”), have identified an Inferred underground mineable coal resource of 298 million tonnes (Mt). Norwest’s review of the coal quality results from drill core samples indicates these coal resources have coking properties after beneficiation.
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The coal resources estimated by Norwest are in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Properties (“NI 43-101”) and have been conducted in conjunction with the preparation of a NI 43-101 technical report which will be completed and filed on SEDAR within 45 days.
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The Inferred coal resource estimates have been determined using a minimum seam thickness of one metre, limited to a maximum depth below surface of 900 metres. Eight coal seams are present with true thicknesses from the exploration data ranging from 1.2 metres to 5.3 metres that combine for an average total true thickness of 20.9 metres. Average seam dip is 11 degrees towards the southwest. The resource estimates are shown below for each coal seam from stratigraphic top to bottom.
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David Austin, President and CEO of Colonial, commented on the Company’s recent exploration results as follows: “We are very pleased with and proud of our recent exploration results at Flatbed and we congratulate our team on their success to date. We look forward to continued exploration and further updates on plans for advancing the Flatbed property.”
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Flatbed Coal Resource Estimates
Seam ID Formation Classification Resource (Mt)
B Gates Inferred 52.2
D Gates Inferred 36.6
E Gates Inferred 19.1
F1 Gates Inferred 21.0
F2 Gates Inferred 49.2
G Gates Inferred 34.8
J Gates Inferred 54.2
K Gates Inferred 30.9
Total Inferred 298.0
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The estimated raw coal qualities for each coal seam, presented on an air-dried basis (adb), are as follows:
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Flatbed Raw Coal Quality Seam Recovery Moisture Ash % Volatiles Fixed Carbon Sulfur % Volatiles Coal ID % % (adb) (adb) % (adb) % (adb) (adb) % dmmf Rank B 83 0.71 32.57 20.08 46.63 0.90 26.90 mvb D 68 0.57 19.74 22.47 57.22 0.98 26.43 mvb E 83 0.58 14.98 21.78 62.66 1.44 24.26 mvb F1 100 0.31 22.83 19.85 57.01 0.45 23.86 mvb F2 100 0.55 15.85 20.40 63.20 0.35 23.12 mvb G 78 0.62 33.48 16.22 49.68 0.47 21.21 lvb J 99 0.64 17.99 17.40 63.97 0.32 19.85 lvb K 53 0.77 24.35 15.70 59.18 0.35 18.71 lvb
The raw coal quality results have been adjusted for core loss. The amounts of core loss within the coal seams are considered acceptable for the estimation of coal quality results as presented. Volatile contents on a dry, mineral matter free (dmmf) basis, range from 18.71% to 26.90%, indicating that the coal seams range in rank from low volatile bituminous (lvb) to medium volatile bituminous (mvb).
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Washability tests, conducted at Birtley Coal and Minerals Testing (Calgary, Alberta), mostly targeted clean coal in the 8% to 9% ash (adb) range. The estimated washed coal qualities and laboratory determined theoretical yields (adjusted for core loss), are tabulated below using results from the 9.5mm x 0.25mm size fractions, which typically comprise 97% – 98% of the crushed Flatbed coal samples.
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Flatbed Washed Coking Coal Quality (9.5mm x 0.25mm fraction)
Seam Cut Point Moisture Ash % Volatiles Fixed Carbon Theoretical
FSI*
ID S.G. % (adb) (adb) % (adb) % (adb) Yield %
B 1.55 0.56 9.29 24.74 65.41 7 58.3
D 1.45 0.43 8.86 24.83 65.88 5.5 59.5
E 1.50 0.70 8.33 22.28 68.69 8 80.7
F1 1.50 0.42 8.73 21.56 69.29 8 62.2
F2 1.60 0.82 8.05 20.98 70.15 7 83.2
G 1.55 0.53 8.64 20.57 70.26 7 54.2
J 1.55 0.47 8.66 18.17 72.70 4 79.2
K 1.50 0.48 5.61 18.40 75.51 4 65.8
* FSI values are rounded to the nearest half-unit.
This news release has been reviewed by Derek Loveday, of Norwest, a Professional Geologist and Qualified Person as defined in NI 43-101.
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About Colonial Coal International Corp.
Colonial Coal is a publicly traded coal corporation in British Columbia that focuses primarily on coking coal projects. The northeast Coal Block of British Columbia, within which our Corporation’s projects are located, hosts a number of proven deposits and has been the subject of M&A activities by Xstrata, Anglo-American and others.
We seek Safe Harbor.