New Colombia Resources Inc. Announces Completion of a Drilling Program by Leading Global Exploration Services Company
SUNNY ISLES BEACH, Florida, August 22, 2013 /PRNewswire/ --
New Colombia Resources, Inc. (OTCQB: NEWC) ("the Company") is pleased to announce the completion of a detailed drill program by SGS Colombia S.A. In addition to the drill program, SGS provided a Conceptual Geological Model as well as Surface Geology. The geology shows that the entire area has coal outcrops where the origin has a high calorific content and is mostly metallurgical. The details of the seams and a geological map of the zone will be posted on the company website next week.
Geologists from SGS realized several visits to the Vereda Salsipuedes in Guaduas and found four outcrops on the North end of the concession contract owned by New Colombia Resources, Inc. and two in the South end in the sector of the Quebrada La Bermeja. SGS projected the coal seams, with dips between 25°W and 45°W, span almost the entire NEWC concession. They also found indications of a coal seam that borders the whole area of the concession from North to South as well as a central seam.
The drill program establishes four drilling points of 300 meters each. The first perforation will be inclined on the North end of the concession to establish the density of the most promising seams and their dips. The second perforation on the South end of the concession, bordering the Querbrada La Bermeja, will also be inclined. The third and fourth holes will be in the center of the concession to find the central seam.
On August 13, 2013, New Colombia Resources, Inc. announced the lab assays of the coal taken from these seams that were analyzed by SGS Mineral Services; they showed high quality metallurgical coal. The results are available on the Coal Specifications page of the company's new website, http://www.newcolombiaresources.com.
"We couldn't be happier with the work SGS has done for us and their results; we look forward to begin drilling in the coming weeks to prove our reserves with an N.I. 43-101. We'll also be able to complete our environmental impact study to obtain an environmental permit as we wait for our work permit to be approved shortly," stated John Campo, President of New Colombia Resources, Inc.
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.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties in the Republic of Colombia. They own 100% of La Tabaquera coal mine in Colombia with an estimated 15- 17 MM tonnes of reserves, 70% metallurgical and 30% thermal coal. Once the necessary financing is obtained, the Company plans to have three revenue producing business units in Colombia: coal mining, coking oven facilities, docks, river, and rail transportation to export terminals in Colombia. The Company is also exploring allegiances with U.S. and Colombian universities to study capturing Coal Bed Methane (CBM) in Colombia. For more information on the Company visit http://www.newcolombiaresources.com.
Transportation, Logistics and Other Information
New Colombia Resources intends to sell their coal at the mine's gate. At the right time, the Company 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, Santa Marta, or Cartagena for export. Initially they will use existing logistics providers while their transportation projects are being developed. After the rail projects and the "Road to the Sun" project are completed, New Colombia Resources will have one of a few metallurgical coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.
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.
New Colombia Resources
SOURCE New Colombia Resources, Inc.
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