New Colombia Resources Inc. Announces Results of Coal Surface Samples Showing High Grade Anthracite Qualities in Colombia
The Company works closer to getting an N.I. 43-101
BARRANQUILLA, Colombia, August 13, 2013 /PRNewswire/ --
New Colombia Resources, Inc. (OTCQB: NEWC) ("the Company") received the preliminary results for coal surface samples taken by SGS Colombia S.A. from their coal mine in Guaduas, Colombia. SGS needed these results in order to finish a drill programme on behalf of the Company. SGS expects the drill program to be ready this week.
The results are available on the Coal Specifications page of the company's new website, http://www.newcolombiaresources.com.
The samples taken by SGS in June were analyzed by SGS Minerals Services in Barranquilla, Colombia on July 11, 2013. Of the 9 samples analyzed, 7 were very high quality coal and 2 were lower quality coal. The Company is extremely pleased with the first two samples which showed High Grade (HG) anthracite values with an 80% fixed carbon content, .64% sulfur, and 9.5% ash. The company is not satisfied with the lower quality results of 2 samples and is waiting for a formal report from SGS to determine the locations and extraction method of these samples.
New Colombia Resources believes the majority of their coal has a coking coal to semi-anthracite rank. A paper titled Coal Resources of the Americas published by the American Geological Society stated "middle Guaduas is characterized by thick beds of shale that are subdivided by sandstone and good concentrations of mineable coal beds which make this unit the best coal producer." The paper goes on to say that "thermo metamorphic action changed the rank of the coal beds in Guaduas from bituminous to meta-anthracite."
"New Colombia Resources is very encouraged by these results since Anthracite sells for 2 or 3 times as much as bituminous coals and is used in the metallurgical, chemical, and manufacturing industries," stated John Campo, President of New Colombia Resources.
SGS Colombia S.A. is close to completion of a N.I. 43-101 compliant drill program at New Colombia's wholly owned La Tabaquera coal mine in Guaduas, Colombia. Upon delivery of the program, New Colombia plans to hire an international drilling company to perforate the holes according to the plan. SGS will take custody of the core samples back to their laboratory in Barranquilla and provide drill hole database management services.
Other exploration services SGS provided 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. The company has already submitted a Works Plan to the National Mining Agency (ANM). Once they submit their environmental impact study, New Colombia Resources believes their environmental license can be approved within a reasonable time allowing them to begin production. Prior to this the company can begin construction and set-up with an approved Works Plan. A recent site visit delegated by the National Mining Agency (ANM) classified concession contract ILE-09551 as being in the construction and set up phase.
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.
+(57) 318-657-0918 Colombia
New Colombia Resources
SOURCE New Colombia Resources, Inc.
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