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Colonial Coal International Corp. (TSXV:CAD) provided updates on their recent exploration activities.
Colonial Coal International Corp. (TSXV:CAD) provided updates on their recent exploration activities.
As quoted in the press release:
Most of the Company’s recent HQ-core drilling was carried out within the southern half of the South Block with a view to raising the resource classification for that portion of the Block (currently classified as Inferred) to Indicated or better. Two holes drilled within the central-western parts of the Middle Block were located to better define fault repeated coal measures below the Pika Fault.
Colonial’s President and CEO , David Austin, said:
I am very pleased with our recent exploration activities and the results anticipated to come. With our company’s already established Measured and Indicated resources in excess of 189 Mt, together with our Inferred resource in excess of 194 Mt, of high value coking coal, we expect our updated results and related Preliminary Economic Assessment to be very positive going forward.