Drilling at the Raven underground coal project continues to upgrade the resource
Thu Jul 9, 8:30 AM
ca.news.finance.yahoo.com
TSX-V TRADING SYMBOL: CEC
VANCOUVER, July 9 /PRNewswire-FirstCall/ - Compliance Energy Corporation (the "Company" or "Compliance") is pleased to provide an update on its drilling activities at the Raven underground coal project on Vancouver Island, BC. The results of this year's drilling will allow a significant portion of the previously reported inferred resources to be upgraded to either measured or indicated when the 43-101 reported resources are updated as part of the feasibility study being conducted by Pincock Allen & Holt. The feasibility study is expected in the second quarter of 2010. Drilling is progressing very well with a total of twenty holes and 4962 meters completed to date out of a permitted program of up to 53 holes or 15,000 meters. A summary of the drilling results is provided in Table 1 "Coal Intersections - Depth and Thickness in Meters" shown below and the hole locations are shown on attached Figure 1 "Drill Hole Location Map".
Seam # 1, which is the seam of primary economic interest, has been intersected in all twenty holes at an average thickness of 3.23 meters or 0.43 meters thicker than the 'typical' thickness of 2.8 meters outlined in the previous 43-101 resource report produced in 2007. Seam # 3, which is the second seam of economic interest, was intersected in sixteen of the twenty holes and was of a mineable thickness (equal to or greater than 1.5 meters) in 12 holes. Where Seam # 3 is present in mineable thicknesses it averages 2.61 meters or 1.11 meters thicker than the 'typical' thickness of 1.5 meters outlined in the previous 43-101 resource report. (Note: all thicknesses represent drill intersected thickness and have not been corrected to true thickness). A summary of drilling results to date is as follows:
Table 1 - Coal Intersections - Depth in Meters and Thickness in Meters
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Drill Hole Seam 1 Seam 3/3 Upper**
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Coal Intersection Depth Coal Intersection Depth
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from (m) to (m) Coal from (m) to (m) Coal
Seam Seam
Thickness Thickness
(m) (m)
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RAV-06-009 201.95 203.85 1.90 167.20 168.50 1.30
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RAV-06-010 130.10 132.20 2.10 96.25 97.40 1.15
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RAV-06-011 444.20 447.80 3.60 426.00 427.80 1.80
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RAV-09-001 54.30 57.70 3.40 4.20 6.20 2.00
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RAV-09-002 357.25 359.00 1.75 330.10 332.10 2.00
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RAV-09-003 12.40 16.50 4.10
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RAV-09-004 221.50 224.75 3.25 133.80 135.75 1.95
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RAV-09-005 311.00 313.15 2.15 282.75 285.55 2.65/
2.80*
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RAV-09-006 97.75 101.55 3.80
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RAV-09-007 190.30 194.60 4.30 162.50 163.55 1.05
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RAV-09-008 225.90 229.25 3.35 200.55 202.25 1.70
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RAV-09-009 212.00 214.50 2.50 185.75 188.80 3.05
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RAV-09-010 117.40 121.65 4.25 95.55 96.95 1.40
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RAV-09-011 31.75 35.55 3.80
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RAV-09-012 272.98 276.60 3.24/ 236.10 241.05 5.35/
3.62* 6.7*
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RAV-09-013 331.30 334.50 2.95/ 308.55 310.75 1.95/
3.2* 2.20*
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RAV-09-014 58.05 60.40 2.35 26.30 29.90 3.60
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RAV-09-015 302.35 306.35 4.00 279.35 282.45 3.10
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RAV-09-017 335.75 339.00 3.25 306.65 308.80 2.15
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RAV-09-018 27.60 32.10 4.50
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Drill Hole Seam 3 Lower Seam 4
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Coal Intersection Depth Coal Intersection Depth
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from (m) to (m) Coal from (m) to (m) Coal
Seam Seam
Thickness Thickness
(m) (m)
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RAV-06-009
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RAV-06-010 59.00 59.50 0.50
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RAV-06-011 393.00 394.20 1.20
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RAV-09-001 7.80 9.50 1.70
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RAV-09-002 332.70 333.65 0.95 254.50 255.30 0.80
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RAV-09-003
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RAV-09-004
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RAV-09-005 248.95 250.25 1.30
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RAV-09-006
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RAV-09-007 123.50 125.25 1.75
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RAV-09-008 161.40 163.60 2.20
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RAV-09-009 151.50 152.20 0.70
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RAV-09-010 97.20 97.35 0.15 53.20 54.70 1.50
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RAV-09-011
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RAV-09-012 200.10 201.30 1.20
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RAV-09-013 272.15 273.30 1.00/
1.15*
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RAV-09-014
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RAV-09-015 237.50 238.20 0.70
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RAV-09-017 272.90 274.00 1.10
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RAV-09-018
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* Note: Coal seam thickness excluding partings/including partings
** Note: Where Seam 3 Upper and 3 Lower are not well defined the
interval is Seam 3 and is correlated with Seam 3 Upper pending
further study. This has been adjusted from the designation as
correlated with 3 Lower in the News Release of June 17, 2009.
A basic geophysical logging suite of gamma, resistivity, caliper, density and deviation have been run on all holes with sonic, dip meter, acoustic televiewer, and neutron being run on selective holes. All coal intersections have been cored and sampled on a ply by ply basis and the interpretation of the coal intersections presented in Table 1 are subject to confirmation upon receipt of coal quality information. The core samples have been sent to Birtley Coal & Minerals Testing Division of GWIL Industries in Calgary, Alberta for coal quality analyses and washability testing. It is expected that coal quality composite analyses and washability data will be available in the fall of 2009. The drilling and coal quality program is under the supervision of Owen R. Cullingham, P. Geo., who is the Independent Qualified Person for reporting purposes as defined in NI 43 - 101 Standards of Disclosure for Mineral Projects.
Compliance Energy Corporation's shares trade on the TSX Venture Exchange under the symbol CEC and investor information is available on the Company's web page at www.complianceenergy.com.
On behalf of the Board of
COMPLIANCE ENERGY CORPORATION
John Tapics
Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements.
To view "Figure 1 - Drill Hole Location Map" please see the link below:
files.newswire.ca
SOURCE Compliance Energy Corporation |
