Colonial Coal International Corp. {TSX.V: CAD} has recently concluded negotiations to acquire 3-D seismic data covering approximately 32.51 square kilometres of the company’s Flatbed coking coal property.
The seismic data extend through the upper, coal-bearing sections of the stratigraphic succession that underlies the property and covers one of the main target areas.
Colonial Coal reviewing Flatbed seismic data acquired
2017-05-31 17:52 ET – News Release
Mr. David Austin reports
COLONIAL COAL INTERNATIONAL CORP. PROVIDES CORPORATE UPDATE
Colonial Coal International Corp. {TSX.V: CAD} has recently concluded negotiations to acquire 3-D seismic data covering approximately 32.51 square kilometres of the company’s Flatbed coking coal property.
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The seismic data extend through the upper, coal-bearing sections of the stratigraphic succession that underlies the property and covers one of the main target areas. This target area was one of several identified by an independent consultant’s review of the property (previously announced on Jan. 28, 2013) and forms the prime focus for drilling this summer.
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Initial evaluation and interpretation of the seismic data are now under way. The primary purpose of this work is to confirm drill targets and refine coal seam depth estimates for exploration budget purposes.
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Company staff is moving ahead with exploration planning, particularly in regard to contractor selection, contract preparation, and ensuring adherence to all government permit regulations and requirements. A site visit is planned shortly to assess field conditions and to lay out an arterial exploration trail.
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In addition, recent corporate activities, undertaken in conjunction with the company’s investor relations consultant, O&M Partners, have included:
- A marketing trip along the eastern seaboard of the United States, during which multiple presentations were made to current and prospective shareholders, fund managers, and brokers;
- One town hall style meeting, conducted by telephone, for similar participants; with further town hall meetings being scheduled for the future.
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This news release has been reviewed by John Perry, a director of the company and a qualified person as defined in National Instrument 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 the corporation’s projects are located, hosts a number of proven deposits and has been the subject of merger-and-acquisition activities by Xstrata, Walter Energy, Anglo-American and others.
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