New Colombia Resources Inc. Announces SGS Started Exploration Services at their Metallurgical Coal Property in Colombia
The Company will develop a drilling plan to complete an NI-43-101 Technical Report
New Colombia Resources, Inc. (OTCQB: NEWC) (“New Colombia” or the “Company”) confirms SGS Colombia S.A. has begun works to complete a N.I. 43-101 compliant drill program at their wholly owned La Tabaquera coal mine in Guaduas,
Other services SGS will provide include a Topographic Survey and Geological Mapping which will give the company direction of where to begin production. These surveys will also give New Colombia the information necessary to complete their environmental impact study.
Once the drill holes samples have been analyzed, a Qualified Person (QP), as defined by the National Instrument 43-101, will provide a technical report. The N.I. 43-101 Technical Report is an international standard used for the public disclosure of information relating to mineral properties. Previous engineering reports have shown 15- 17 MM metric tons of mostly metallurgical or coking coal at La Tabaquera. The second quarter benchmark price for hard coking coal is
“The N.I. 43-101 will allow us to raise capital with as little dilution as possible, the geological surveys will give us the information needed to have a clear path to production,” stated
SGS is the world’s leading inspection, verification, testing and certification company. They are recognized as the global benchmark for quality and integrity. With more than 75,000 employees, they operate a network of more than 1,500 offices and laboratories around the world. Their core services can be divided into four categories: inspection, testing, certification, and verification. For more information visit http://www.sgs.co/en.
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About New Colombia Resources, Inc. (OTCQB: NEWC)
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties in the Republic of
Transportation, Logistics and Other Information
New Colombia Resources plans to build or acquire river or rail loading facilities on the Magdalena River close to their mines. The coal will be trucked to these distribution centers, and then barged via the Magdalena River or by rail to terminals in Barranquilla,
Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as “anticipate,” “seek,” intend,” “believe,” “plan,” “estimate,” “expect,” “project,” “plan,” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
New Colombia Resources, Inc.
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SOURCE New Colombia Resources, Inc.