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Colonial Coal reveals PEA results for flatbed metallurgical coal property

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World Coal,

Colonial Coal International Corp.’s President and CEO, David Austin, has announced the results of a recently completed preliminary economic assessment (PEA) for the Gordon Creek area that forms part of the company’s 100%-owned flatbed metallurgical coal property located approximately 27 km south-southeast of Tumbler Ridge in northeast British Columbia (Canada).

The PEA report, prepared by Stantec Consulting Services Inc. (Stantec; formally Norwest Corporation), in accordance with CSA National Instrument 43-101 (NI 43-101) standards, will be completed and filed on SEDAR (the System for Electronic Document Analysis and Retrieval) within 45 days of the date of this news release. The results of the PEA show that the Gordon Creek project demonstrates positive economics, and that it is worthy of continued exploration and development.

In summary, Stantec used previously reported (27 November 2017 and 16 January 2018 and by way of corresponding NI 43-101 technical report filings) in situ and potentially mineable resources, developed a conceptual mine plan to exploit the coal resources using underground mining methods and prepared scoping-level cost estimates and economic analyses.

Highlights of the PEA report respecting the Gordon Creek project are summarised here.*

*(Note, all costs are in US dollars, however, where Canadian dollar equivalents are provided they have been converted using an exchange rate of US$1 equals CAN$1.30).

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Canada coal news