New Colombia Resources Inc. Announces SGS Started Exploration Services At Their Metallurgical Coal Property In Colombia
BARRANQUILLA, Colombia, May 2, 2013 /PRNewswire/ --
New Colombia Resources, Inc. (OTCQB: NEWC) ("New Colombia" or the "Company") confirms SGS Colombia S.A. has begun works to complete a N.I. 43-101 compliant drill program at their wholly owned La Tabaquera coal mine in Guaduas, Colombia. At the conclusion of the program, New Colombia will hire an international drilling company to drill the holes according to the plan. SGS will take custody of the core samples back to their laboratory in Barranquilla, Colombia and provide drill hole database management services.
Other services SGS will provide include a Topographic Survey and Geological Mapping which will give the company direction of where to begin production. These surveys will also give New Colombia the information necessary to complete their environmental impact study.
Once the drill holes samples have been analyzed, a Qualified Person (QP), as defined by the National Instrument 43-101, will provide a technical report. The N.I. 43-101 Technical Report is an international standard used for the public disclosure of information relating to mineral properties. Previous engineering reports have shown 15- 17 MM metric tons of mostly metallurgical or coking coal at La Tabaquera. The second quarter benchmark price for hard coking coal is $ 172 per metric ton."The N.I. 43-101 will allow us to raise capital with as little dilution as possible, the geological surveys will give us the information needed to have a clear path to production," stated John Campo, President of New Colombia Resources. About SGS SGS is the world's leading inspection, verification, testing and certification company. They are recognized as the global benchmark for quality and integrity. With more than 75,000 employees, they operate a network of more than 1,500 offices and laboratories around the world. Their core services can be divided into four categories: inspection, testing, certification, and verification. For more information visit http://www.sgs.co/en. Get News Alerts & Stock Updates for New Colombia Resources, Inc. delivered directly to your Mobile Phone. Text NEWC to 545454
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts