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Colonial Coal Announces Results of a Preliminary Economic Assessment for an Open Pit Only Mine at its Huguenot Project
Colonial Coal Announces Results of a Preliminary Economic Assessment for an Open Pit Only ...
About this update from Colonial Coal International Corp.
[{"type":"text","content":"\n\n\n\nColonial Coal Announces Results of a Preliminary Economic Assessment for an Open Pit Only Mine at its Huguenot Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 26, 2019\n\n\n\nVANCOUVER, Nov. 26, 2019 /CNW/ - Colonial Coal International Corp. (TSX-V: CAD) (the \"Company\" or \"Colonial Coal\").  David Austin, Colonial Coal's President and CEO, is pleased to announce the results of a recent Preliminary Economic Assessment (the \"PEA\") for a stand-alone open pit option at the Company's 100% owned Huguenot coking coal property (the \"Huguenot Project\") located approximately 85 kilometres southeast of Tumbler Ridge in northeast British Columbia.\n\nThis PEA for the stand-alone open pit mine on the Huguenot Project is preliminary in nature and there is no certainty that the forecast results stated in the PEA will be realized.  In addition, the PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainly that the preliminary economic assessment will be realized.  Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.\nThe PEA report, prepared by Stantec Consulting Services Inc. (\"Stantec\") 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.  The results of the PEA show that the Huguenot Project continues to demonstrate positive economics, has viable development options and is worthy of advancement.\nThe current PEA report builds upon an original PEA report prepared in 2013 by Norwest Corporation that was updated in 2018 by Norwest, now Stantec, using then current scoping level cost estimates and economic analyses.  The mining studies previously reported (September 24, 2013 and July 10, 2018 and by way of correspondin...