news Canada Coal to Acquire an Additional 280,000 Acres of Coal Licences at Its Foshiem Peninsula Property<CCK.V>
CCNMatthews
9:00 AM (GMT-05:00) Eastern Time (US & Canada) Dec 19, 2012
Marketwire
Canada Coal Inc.
December 19, 2012 - 09:00:00 AM
Canada Coal to Acquire an Additional 280,000 Acres of Coal Licences at Its
Foshiem Peninsula Property
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2012) - Canada Coal Inc.
(the "Company" or "Canada Coal"), (TSX VENTURE:CCK) is pleased to announce
that it has applied for an additional 11 coal exploration licences within the
Fosheim Peninsula region on Ellesmere Island. Once granted, these licences
will add an additional 280,000 acres to Canada Coal's project area in key
areas surrounding planned exploration drill targets, taking the Company's
total coal licence holdings to 86 licences covering approximately 2,722,627
acres. The Company has a reasonable expectation that the additional coal
exploration licences will be granted in sufficient time to be included in the
planned Phase 2 exploration drilling program.
Multiple high quality thermal coal deposits were discovered on the Company's
arctic coal license areas located in Nunavut through its 2012 exploration
program. Well over 100 coal seams on the Company's Fosheim Peninsula project
area were assessed, resulting in the identification of extensive zones of
low-sulphur, low-ash, subbituminous, thermal coal. The Fosheim Peninsula is
the company's primary exploration target and one of six coal license areas
currently owned by the Company.
Historic Coal Data Overview:
https://www.canadacoal.com/index.php?page=historic_data
Braam Jonker, President and CEO of Canada Coal comments, "These strategic
acquisitions fortify the company's coal license holdings in key areas
identified throughout the 2012 exploration program. Additional acreage has
been applied for in order to extend property borders in areas where high
quality thermal coal was discovered with low sulphur and low ash content. We
have now commenced permitting for the upcoming Phase 2 exploration drilling
program and anticipate between 9,000-10,000 meters of drilling to be
conducted."
In compliance with National Instrument 43-101, Standards of Disclosure for
Mineral Projects, Susan O'Donnell, B.Sc., P.Geol., of DMT Geosciences Ltd., is
the Independent Qualified Person responsible for the accuracy of this news
release.