Forge Resources Commences Pilot Drilling for Underground Decline Development at Fully Permitted Coal Project, Colombia
Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) has initiated pilot drilling for underground decline development at its fully permitted coal project in Colombia. The company aims to access six coal seams through a 170-meter decline and crosscut, preparing for a 20,000-tonne bulk sampling program. Historical drilling shows coal quality averaging 12,400 BTU, with some samples reaching 13,900 BTU. The project is currently permitted for 180,000 tonnes per year.
CEO Cole McClay expressed confidence in the project's potential to meet global coal demands and drive value for shareholders. The company anticipates averaging $200-$250 CAD per tonne for the bulk sample offtake, with an agreement already in place with a major Colombian coal trader.
Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) ha avviato la perforazione pilota per lo sviluppo di un tunnel sotterraneo nel suo progetto minerario di carbone completamente autorizzato in Colombia. L'azienda intende accedere a sei strati di carbone attraverso un tunnel di 170 metri e un attraversamento, preparandosi per un programma di campionamento di massa di 20.000 tonnellate. Le perforazioni storiche mostrano una qualità del carbone che media 12.400 BTU, con alcuni campioni che raggiungono 13.900 BTU. Il progetto è attualmente autorizzato per 180.000 tonnellate all'anno.
Il CEO Cole McClay ha espresso fiducia nel potenziale del progetto di soddisfare la domanda globale di carbone e di generare valore per gli azionisti. L'azienda prevede di raggiungere una media di $200-$250 CAD per tonnellata per le vendite del campione di massa, con un accordo già in essere con un importante commerciante di carbone colombiano.
Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) ha iniciado la perforación piloto para el desarrollo de un declive subterráneo en su proyecto de carbón completamente autorizado en Colombia. La compañía tiene como objetivo acceder a seis capas de carbón a través de un declive de 170 metros y un cruce, preparándose para un programa de muestreo a granel de 20,000 toneladas. Las perforaciones históricas muestran una calidad del carbón que promedia 12,400 BTU, con algunas muestras alcanzando 13,900 BTU. El proyecto está actualmente autorizado para 180,000 toneladas por año.
El CEO Cole McClay expresó confianza en el potencial del proyecto para satisfacer la demanda global de carbón y generar valor para los accionistas. La empresa anticipa un promedio de $200-$250 CAD por tonelada para la venta a granel, con un acuerdo ya establecido con un importante comerciante colombiano de carbón.
Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF)는 콜롬비아에 있는 완전 허가된 석탄 프로젝트에서 지하 경사 개발을 위한 시험 굴착을 시작했습니다. 이 회사는 6개의 석탄층에 접근하기 위해 170미터의 경사면과 횡단을 통해 20,000톤 대량 샘플링 프로그램을 준비하고 있습니다. 역사적인 굴착 결과 석탄 품질은 평균 12,400 BTU로 나타나며, 일부 샘플은 13,900 BTU에 도달했습니다. 이 프로젝트는 현재 연간 180,000톤으로 허가받았습니다.
CEO Cole McClay은 이 프로젝트가 글로벌 석탄 수요를 충족시키고 주주들에게 가치를 제공할 잠재력이 있다고 확신한다고 밝혔습니다. 회사는 대량 샘플 출하를 위해 톤당 $200-$250 CAD의 평균 매출을 예상하고 있으며, 콜롬비아의 주요 석탄 상인과 이미 계약을 체결했습니다.
Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) a lancé des forages pilotes pour le développement d'un déclin souterrain dans son projet de charbon entièrement autorisé en Colombie. L'entreprise vise à accéder à six couches de charbon par le biais d'un déclin de 170 mètres et d'une traverse, se préparant à un programme d'échantillonnage massif de 20 000 tonnes. Les forages historiques indiquent une qualité de charbon moyenne de 12 400 BTU, certaines échantillons atteignant 13 900 BTU. Le projet est actuellement autorisé pour 180 000 tonnes par an.
Le PDG Cole McClay a exprimé sa confiance dans le potentiel du projet à répondre à la demande mondiale de charbon et à générer de la valeur pour les actionnaires. L'entreprise prévoit un prix moyen de $200-$250 CAD par tonne pour la vente d'échantillons en vrac, avec un accord déjà établi avec un important négociant en charbon colombien.
Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) hat mit der Pilotbohrung für die Entwicklung eines unterirdischen Abbaus in seinem vollständig genehmigten Kohleprojekt in Kolumbien begonnen. Das Unternehmen plant, sechs Kohleschichten durch einen 170 Meter tiefen Abbau und einen Querschnitt zu erreichen, um sich auf ein 20.000-Tonnen-Musterprogramm vorzubereiten. Historische Bohrungen zeigen eine Kohlequalität von durchschnittlich 12.400 BTU, wobei einige Proben sogar 13.900 BTU erreichen. Das Projekt ist derzeit für 180.000 Tonnen pro Jahr genehmigt.
CEO Cole McClay äußerte Vertrauen in das Potenzial des Projekts, die globale Nachfrage nach Kohle zu decken und den Wert für die Aktionäre zu steigern. Das Unternehmen erwartet, dass der durchschnittliche Preis für die Großmusterverkäufe zwischen $200-$250 CAD pro Tonne liegt, wobei bereits eine Vereinbarung mit einem wichtigen kolumbianischen Kohhändler besteht.
- Initiation of pilot drilling for underground decline development
- Access to six coal seams with high-quality coal (avg. 12,400 BTU, up to 13,900 BTU)
- Existing permit for 180,000 tonnes per year production
- Bulk sampling program of 20,000 tonnes in progress
- Offtake agreement in place with major Colombian coal trader
- Anticipated revenue of $200-$250 CAD per tonne for bulk sample
- Weather-related delays mentioned, potentially affecting project timeline
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce the start of the pilot drilling to guide underground development of a 170-meter decline at their, followed by a crosscut to access all coal seams to provide sufficient resources for the bulk sampling program.
Logan Drilling has been contracted to execute a pilot drilling operation aimed at assessing soil conditions for the planned decline (Figure # 1).
Aion Mining Corp, with the support of Forge Resources Corp, is advancing its Colombian metallurgical and thermal coal project with a strong focus on obtaining a revenue generating bulk sample, a crucial step in the mining project development process, providing valuable data that will lead to informed decision-making and successful project outcomes.
Cole McClay, CEO of Forge Resources, states: "We are excited to announce significant progress in our coal project in Santander, Colombia now that weather-related delays have been mitigated. The dedication and expertise of our team, coupled with the rich resources of this deposit, ensure a promising future as we continue our efforts to deliver high-quality coal to meet growing global demands. We are confident that this project will drive substantial value and sustainable growth for our company and shareholders alike."
Bulk Sampling
The Company's comprehensive efforts in engineering, geotechnical analysis, and site development are laying the groundwork for a bulk sampling program of an initial 20,000 tonnes (Figure # 2). It is estimated the decline would give early access to approximately 200,000 tonnes of coal. The project is currently permitted 180,000 tonnes per year, which the company will advance toward after the initial bulk sample. Prices for metallurgical and thermal coal appear to have stabilized and the Company anticipates averaging around
The initial planned crosscut for the bulk sampling program will reach 6 coal seams: M200, M180, M160, M140, M120 and M110 (Figure # 3). Historical drilling has shown the quality of the coal GCV (Gross Calorific Value) averaging 12,400 BTU with some samples reaching 13,900 BTU. Seams M160, M140 and M110 with metallurgical coal potential showing FSI of up to 8.
Bulk sampling provides a more detailed assessment of the deposit, which helps in refining the quantity and quality of resource estimates. This information is critical for planning the mining process and optimizing recovery rates. It will provide critical data related to mine design, processing methods, and capital expenditures. In addition, the bulk sample potentially provides the company with revenue to advance the project.
Figure # 1 - Pilot Drilling Commencement
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Figure # 2 - Decline Development Plan Drawing
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Figure # 3 - Crosscut Development
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Qualified Person
Lorne Warner, P.Geo, and President of Forge Resources Corp. is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
About Forge Resources Corp.
Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada.
In addition, the Company holds a
On behalf of the Board of Directors
"Cole McClay", CEO Forge Resources Corp.
info@forgeresourcescorp.com
604 271 0826
Forward-Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-Looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-Looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.
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FAQ
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