West Hawk Development Corp.: Technical Report Received on Groundhog Coal Property
August 21 2007 - 7:25PM
Marketwired Canada
West Hawk Development Corp. ("West Hawk") (TSX VENTURE:WHD)(FRANKFURT:H5N) (the
"Company") is pleased to announce that it has received an independent National
Instrument 43-101 ("NI 43-101") Technical Report (the "Groundhog Report") for
the Groundhog Coal Property (the "Groundhog Property"), to which West Hawk has
an option to acquire a 100% interest. The Groundhog Report is dated August 10,
2007 and was prepared by Weir International, Inc. ("Weir"), an independent
technical consulting firm. Tom A. Tveten, Chief Geologist of Weir is an
Independent Qualified Person (the "Qualified Person") as defined in NI 43-101
Standards of Disclosure for Mineral Projects.
A complete copy of the Groundhog Report has been filed on SEDAR and may be
reviewed in its entirety at www.sedar.com and on the Company's website.
West Hawk holds coal exploration licenses for 8,887 hectares relative to the
Groundhog Coal Property located in British Columbia, Canada. West Hawk acquired
the coal exploration licenses in April 2005.
The project area for the Groundhog Coal Property lies within the Groundhog
Coalfield and is located approximately 180 kilometres north of the town of
Hazelton and 150 kilometres northeast of Stewart in British Columbia, Canada.
The Groundhog Coal Property is located within the National Topographic System
(NTS) map 104A.
In the late 1960s, 1970s and early 1980s, Coastal Coal Co. Ltd. (Coastal Coal),
National Coal Corporation Ltd., Placer Development Ltd. and Quintana Minerals
Corporation (National Joint Venture), British Columbia Hydro and Power Authority
(B.C. Hydro), Imperial Metals Corp. (Imperial), Groundhog Coal Ltd. (Groundhog
Coal), L.G. Scott, Petro-Canada Exploration Inc. (Petro-Canada), Suncor Inc.
(Suncor) and Gulf Canada Resources Inc. (Gulf) conducted exploration activities
on and adjacent to the areas now covered by the West Hawk coal exploration
licenses for the Groundhog Coal Property. Although coal occurrences were
identified in the areas explored by Coastal Coal, National Joint Venture, B.C.
Hydro, L.G. Scott, Groundhog Coal, Suncor, and Gulf, no further work was
conducted on the properties after 1985 and any coal exploration licenses held by
the various companies were terminated.
In April 2005 West Hawk acquired coal exploration licenses within the areas
explored by Coastal Coal, National Joint Venture, B.C. Hydro, L.G. Scott,
Groundhog Coal, Suncor, and Gulf, and initiated a review of the historical data
regarding, the coal occurrences within the licenses. The L.G. Scott, Groundhog
Coal, Suncor, and Gulf coal exploration licenses are in the same general area as
the West Hawk coal exploration licenses, but do not cover the same area. Only
the data and historical resource estimates from the Coastal Coal, National Joint
Venture, B.C. Hydro, L.G. Scott, Groundhog Coal, Suncor, and Gulf historical
reports that are pertinent to the West Hawk coal exploration licenses are
considered in this report.
A comprehensive review of the historical exploration information was conducted
by Weir. The potential exploration target estimates for the Groundhog Coal
Property in the Groundhog Report are all historical estimates.
Exploration
Exploration of the Groundhog Coalfield by Coastal Coal, National Joint Venture,
B.C. Hydro, L.G. Scott, Groundhog Coal, Suncor, and Gulf began in the early
1960s and continued until the mid 1980s. National Joint Venture and Imperial
drilled a total of 12 holes, totaling approximately 2,051 metres, in the
Discovery Creek and Evans Creek areas. In 1970 National Joint Venture drilled
six holes, totaling approximately 1,034 metres, and in 1981 Imperial drilled six
holes, totaling approximately 1,017 metres. The majority of the exploration work
in the Groundhog Coalfield consisted of field mapping of coal outcrops,
trenching and short adits. There has been no recent exploration activity in the
Groundhog Coalfield.
Historical Estimates of the Coal Deposits
Coastal Coal, National Joint Venture, B.C. Hydro, L.G. Scott, Groundhog Coal,
Suncor, and Gulf conducted exploration activities in the Groundhog Coalfield.
Although Coastal Coal, National Joint Venture, B.C. Hydro, L.G. Scott, and
Suncor conducted exploration activities, no historical resource or potential
exploration targets were estimated. Groundhog Coal and Gulf estimated potential
exploration target tonnage for the area of their coal exploration licenses.
The potential exploration target estimates were determined by Groundhog Coal and
Gulf prior to the implementation of NI 43-101 and are not in compliance with CSA
NT 43-101 or the United States Securities and Exchange Commission (SEC)
guidelines. No estimate of mineral resources was reported by Weir. All tonnage
reported in the Groundhog Report are historical potential exploration target
estimates.
The potential exploration target estimates reported by Groundhog Coal and Gulf
were within their coal exploration licenses. It is difficult to determine from
the information in the historical reports what percentage of the potential
exploration target estimates are within the West Hawk coal exploration licenses.
Potential exploration target occurrence and thickness from the historical
reports support the author's opinion that the potential exploration targets are
uniformly distributed through the historic Groundhog Coal and Gulf coal
exploration licenses and West Hawk's coal exploration licenses. The potential
exploration target estimates, by reporting company, and the percentage of the
Groundhog and Gulf historical coal exploration licenses, which are exclusive of
each other, within West Hawk's coal exploration licenses are as follows:
-----------------------------------------------------
Potential Within
Exploration Area (%) West Hawk
Target Within Coal
Estimates West Licenses
In-Place Hawk In-Place
Reporting Tonnes Coal Tonnes
Company Millions Licenses Millions
-----------------------------------------------------
Groundhog Coal 210 - 230 50 105-115
-----------------------------------------------------
Gulf 490 - 520 35 170-185
-----------------------------------------------------
All reference to coal tonnage, resources, and potential exploration target
estimates in the Groundhog Report are historical. The potential exploration
target quantity and quality is conceptual in nature. There has been insufficient
exploration to define a mineral resource and it is uncertain if further
exploration will result in the potential exploration target being delineated as
a mineral resource.
The report is prepared in accordance with NI 43-101, Standards of Disclosure for
Mineral Projects, and the Geological Survey of Canada, paper 88-21 (GSC 88-21),
A Standardized Coal Resource/Reserve Reporting System for Canada.
NI 43-101 establishes standards for all public disclosures that an issuer
provides relative to scientific and technical information concerning mineral
projects. The purpose of the rule is to enhance the accuracy and integrity of
disclosure in the mining sector. The NI 43-101 was developed by the Canadian
Securities Administrators (CSA), an umbrella group of Canada's provincial and
territorial securities regulators, and is applicable throughout Canada. The rule
extends to oral public statements as well as written disclosure in news
releases, prospectuses, annual reports and other corporate reporting and
offering documents.
GSC 88-21 provides definitions, concepts and parameters used to determine coal
resource and reserve quantities, and the future work to facilitate consistent
categorization of coal quantities found within depositional and tectonic regimes
in Canada. In this report, all mention of resource or potential exploration
target estimates are based on historical information from reports prepared by
companies and organizations other than West Hawk. The potential exploration
target estimates have been reviewed and evidence of coal occurrences has been
substantiated from the site visit and site observations made by Weir. The
historical coal exploration reports reviewed by Weir serve as a basis for this
Technical Report in accordance with NI 43-101 standards.
Tom A. Tveten, Chief Geologist of Weir International, Inc. is the Qualified
Person who prepared or supervised the preparation of the Groundhog Report, and
has reviewed and verified the technical information in this news release.
On behalf of the Board of Directors,
Dr. Wm. Mark Hart, President and Chief Executive Officer
About the Company: West Hawk Development Corp. is focused on providing valuable,
high-demand energy products from a variety of sources. Assets include the Figure
Four natural gas property located in the Piceance Basin, Colorado, being
developed under a drilling and development agreement; the Tulita coal property
in the Northwest Territories; the Groundhog coal property located in northwest
British Columbia; and the Ellesmere Island, Nunavut Territory coal property.
Cautionary Note: This report contains forward looking statements, particularly
those regarding cash flow, capital expenditures and investment plans. Resource
estimates, unless specially noted, are considered speculative. The Company has
filed a National Instrument 51-101 Report on the Figure Four property. The
Company has filed National Instrument 43-101 Reports for each of the Tulita coal
property in the Northwest Territories, the Nunavut Coal property and the
Groundhog Coal property. Any and all other resource or reserve estimates are
historical in nature, and should not be relied upon. By their nature, forward
looking statements involve risk and uncertainties because they relate to events
and depend on factors that will or may occur in the future. Actual results may
vary depending upon exploration activities, industry production, commodity
demand and pricing, currency exchange rates, and, but not limited to, general
economic factors. Cautionary note to U.S. investors: The U.S. Securities and
Exchange Commission specifically prohibits the use of certain terms, such as
"reserves" unless such figures are based upon actual production or formation
tests and can be shown to be economically and legally producible under existing
economic and operating conditions.
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