New Colombia Resources Inc. Engages SGS to Commence a Drill Program and Exploration Services at their Metallurgical Coal Property in Colombia The Company will develop a drilling plan to complete an NI-43-101 Technical Report
BARRANQUILLA, Colombia, April 4, 2013 /PRNewswire/ --
New Colombia Resources, Inc. (OTCBB: NEWC) ("New Colombia" or the "Company") has engaged SGS Colombia S.A. to begin a N.I. 43-101 compliant drill program. At the conclusion of the program, New Colombia will hire an international drilling company to drill the holes according to the plan. SGS will take custody of the core samples back to their laboratory in Barranquilla, Colombia and provide drill hole database management services. Other services SGS will provide include a Topographic Survey and Geological Mapping.
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; it is broadly comparable to the Joint Ore Reserves Committee Code (JORC Code) which regulates the publication of mineral exploration reports.
The drill hole results will also allow the company to complete and submit their Environmental Impact Study. "We are aggressively moving forward to get into production as soon as possible," stated John Campo, President of New Colombia Resources.
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. (OTCBB: NEWC)
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 plans to build or acquire wholly owned 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
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SOURCE New Colombia Resources, Inc.