Canada Coal Provides Corporate Update
December 17 2013 - 9:01AM
Marketwired
Canada Coal Provides Corporate Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 17, 2013) -
Canada Coal Inc. (the "Company" or "Canada Coal") (TSX-VENTURE:CCK)
is pleased to provide a corporate update on its Arctic coal
properties.
Community consultation meetings between Canada Coal and the
Hamlet of Grise Fiord (the "Community") occurred in July 2013 and
November 2013. The July consultation focused on presenting the
planned Phase 2 exploration program to the community, and gathering
feedback to resolve concerns relating to water management, wildlife
management, and preservation of heritage resources. Although the
meeting was well attended for the small Hamlet, many of the local
hunters were absent due to seasonal work. The Company had a
follow-up session in November 2013. Representatives from Aboriginal
Affairs and Northern Development Canada and Qikiqtani Inuit
Association were also in attendance for the meeting. During the
November meeting it was agreed that more consultation with the
community was required in order to adequately address all of their
concerns.
The Company has agreed to delay its intended exploration program
on Ellesmere Island for a 12 month period so that a joint working
group between the Company, the Community and certain regulatory
bodies can be established to explore ways to progress the project,
whilst addressing the concerns of all stakeholders. The working
group will meet regularly over the next 12 month period.
Accordingly, the Company has withdrawn its project application.
Braam Jonker, President and CEO of Canada Coal commented that,
"This is a very positive development between the Company and the
Community and we are looking forward to working with all
stakeholders to move this project forward."
During 2013, the Company was granted relief on some of its coal
exploration licences within the Fosheim Peninsula region on
Ellesmere Island. An expiry date extension period of one year on
existing licences was granted to the Company to allow time to
conduct further consultation with the surrounding communities and
other interested parties. The Company will be seeking additional
extensions to accommodate the twelve month working group
timeframe.
The Company also announces that licences numbered 177 through
196, inclusive, have been relinquished in order to focus operations
on the Company's main project area, Fosheim Peninsula. The lapsed
licences were all located on Axel Heiberg Island, outside of the
Fosheim Peninsula Project. Licence areas 109-115, the majority of
which are located on Ellesmere Island, also expired during 2013 but
the Company has reapplied for these areas.
The company currently holds 59 active and 9 pending coal
exploration licence blocks totalling 1,769,539 acres primarily
situated within Canada Coal's Fosheim Peninsula Project.
Multiple high quality thermal coal deposits were discovered on
the Company's arctic coal license areas located in Nunavut through
its 2012 exploration program. Well over 100 coal seams on the
Company's Fosheim Peninsula project area were assessed, resulting
in the identification of extensive zones of low-sulphur, low-ash,
subbituminous, thermal coal.
Historic Coal Data
Overview:
http://www.canadacoal.com/index.php?page=historic_data
In compliance with National Instrument 43-101, Standards of
Disclosure for Mineral Projects, Susan O'Donnell, B.Sc., P.Geol.,
of DMT Geosciences Ltd., is the Independent Qualified Person
responsible for the accuracy of this news release.
About Canada
Coal
Canada Coal is a publically listed company focused on coal
exploration and development in Nunavut. Through its two
wholly-owned subsidiaries, Canada Sovereign Coal Corp. and 5200
Nunavut Ltd., Canada Coal holds 59 active and 9 pending coal
exploration licence blocks totalling 1,769,539 acres located
primarily on Ellesmere Island in Nunavut (the "Nunavut Coal
Property"). Canada Coal commissioned a National Instrument 43-101
compliant technical report in respect to the Nunavut Coal Property,
dated September 30, 2011 entitled "The Nunavut Coal
Project-Ellesmere Island and Axel Heiberg Island, Nunavut,
Canada" as well as an "Updated Independent Technical Report,"
dated November 26th, 2012, prepared by Keith McCandlish, P. Geol.,
P. Geo., and Susan O'Donnell, P. Geol., of DMT Geosciences Ltd.
(formerly Associated Geosciences Ltd.), Calgary, Alberta, Canada, a
copy of each report is available on SEDAR at www.sedar.com.
On behalf of the Board of Directors
Braam Jonker, President and Chief Executive Officer
The TSX Venture Exchange has in no way passed upon the
merits of the Transaction and neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain "forward-looking information"
under applicable Canadian securities legislation. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking statements. Such
factors include, but are not limited to: general business,
economic, competitive, political and social uncertainties; delay or
failure to receive regulatory approvals; the price of mineral
resources; and the results of current exploration and testing.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Canada Coal disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
Canada Coal Inc.Braam JonkerPresident and Chief Executive
Officer1-604-638-0971info@canadacoal.comwww.canadacoal.com
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