Colonial Coal International Corp. has announced that it has recently and successfully concluded negotiations to acquire 3D seismic data covering approximately 32.51 km2. of the company's Flatbed coking coal property.
The seismic data extends through the upper, coal-bearing sections of the stratigraphic succession that underlies the property and covers one of the main target areas. This target area was one of several identified by an independent consultant's review of the property (previously announced on 28 January, 2013) and forms the prime focus for drilling this summer.
Initial evaluation and interpretation of the seismic data is now underway. The primary purpose of this work is to confirm drill targets and refine coal seam depth estimates for exploration budget purposes.
Company staff are moving ahead with exploration planning, particularly in regard to contractor selection, contract preparation and ensuring adherence to all government permit regulations and requirements. A site visit is planned shortly to assess field conditions and to lay-out an arterial exploration trail.
In addition, recent corporate activities, undertaken in conjunction with the company's investor relations consultant, O&M Partners, have included:
- A marketing trip along the eastern seaboard of the US, during which multiple presentations were made to current and prospective shareholders, fund managers and brokers.
- One ‘town-hall’ style meeting, conducted by telephone, for similar participants; with further ‘town-hall’ meetings being scheduled for the future.
Read the article online at: https://www.globalminingreview.com/exploration-development/01062017/colonial-coal-international-corp-acquires-seismic-data/