RE: article from marchSaid below news are NOV 4. 2011.
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The Company is also pleased to report that it has completed drilling 8 core holes in its most recent exploration program at its wholly-owned Border Project ("Border") located near Hudson Bay, Saskatchewan, Canada. These holes, some of which encountered several thick coal zones in excess of 100 metres, were drilled in the Niska 105 (5 holes) and Pasquia 98 (2 holes) deposits as well one hole to test an airborne geophysical anomaly in the Red Deer area in Manitoba. Drilling on the property to date has discovered a total of 17 coal deposits at Border with good potential for additional coal discoveries (see attached map at https://media3.marketwire.com/docs/gxs114_F1.JPG).
Exploration program highlights are as follows:
- A total of 8 holes completed with 1,308 metres drilled. Six out of eight holes encountering coal zone intercepts.
- The most significant coal zone intervals occurred in the Niska 105 sub-basin where 5 holes encountered true, aggregate thicknesses ranging from 69 to 119 metres (see table below).
- Infill drilling has given better definition to the Niska 105 deposits where the objective was to upgrade Speculative Resources to Indicated and Inferred Resources. A majority of the Speculative Resource at Niska 105 are expected to be converted to Indicated Resources with potential increase in overall resources.
- Niska 105 deposit is conveniently located adjacent to rail and, after completing the upgrade to Indicated Resources, should be a priority above other known Company deposits for near-future studies and potential development.
- Drilling has further defined a coal deposit at Pasquia 98. One drill hole intercepted a 3 metres thick coal seam. A previous hole drilled in this area encountered a 34.9 metre coal zone. Further drilling will be contemplated on this large geophysical anomaly.
- Environmental baseline work under the direction of EBA Engineering Consultants, a Tetra Tech Company, has continued with emphasis on data collection and reporting on results as a base for permitting and a possible Pre-Feasibility Study.
Numbering of the drill holes for this phase of exploration continues sequentially from previous programs beginning at BD11-141. Names of deposits are based on an identifier in the general location and the areas are designated according to the discovery hole numbers.
| Hole ID |
From
(m |
) |
To
(m |
) |
Coal Zone
Interval *(m |
) |
Notes |
| BD11-142 |
73 |
|
76 |
|
3 |
|
Pasquia 98 deposit |
|
|
|
|
|
|
|
|
| BD11-143 |
80 |
|
199 |
|
119 |
|
Niska 105 deposit |
|
|
|
|
|
|
|
|
| BD11-144 |
85 |
|
185 |
|
100 |
|
Niska 105 deposit |
|
|
|
|
|
|
|
|
| BD11-145 |
61 |
|
174 |
|
113 |
|
Niska 105 deposit |
|
|
|
|
|
|
|
|
| BD11-146 |
71 |
|
161 |
|
90 |
|
Niska 105 deposit |
|
|
|
|
|
|
|
|
| BD11-147 |
74 |
|
143 |
|
69 |
|
Niska 105 deposit |
|
|
|
|
|
|
|
|
| * The coal zone intervals are based on visuals (coal and carbonaceous material) and by down hole, e-log density of 1.6 g/cc or less. |
Holes BD11-141 and BD11-148 were drilled in deposits, Pasquia 98 and Red Deer, Manitoba, respectively and showed no significant coal intercepts.
Initial identification of the intervals of coal in the table above is based on visual observations. The Company cautions against placing undue reliance on the visual observations of the coal until the results of the analytical work have been announced. Sampling and laboratory test work is ongoing.
Current coal resources at Border, as established in the Company's NI 43-101 "Preliminary Assessment Report on the Border Coal Project, Saskatchewan, Canada", prepared by Marston Canada Ltd. and EBA Engineering Consultants Ltd., a Tetra Tech Company, on December 24, 2009 and available at www.sedar.com, include:
|
• |
Indicated Resources: |
79.1 million tonnes |
|
• |
Inferred Resources: |
34.8 million tonnes |
|
• |
Speculative Resources: |
61.1 million tonnes |