All mines start with the successful identification of prospective ground and a a great team – Building on a long history of consulting to the coal industry, Resolve Coal’s workforce of a dozen geologists has literally scoured the world’s coal basins looking for prospective coal endowments with real potential to prove up to mining.
The company has now invested 27,000 hours of geological time in target generation, resulting in 12 coal tenements in Queensland, in Canada’s British Columbia and in Colombia in South America. The company is now well positioned to add to its team with strategic partners and investors.
Reinforced by experience in many overseas jurisdictions, excellence in data acquisition and statutorily compliant systems, Resolve is employing three coal exploration drill rigs in Queensland to obtain the data for maiden JORC compliant resource estimations on its Jeffries Creek (EPC 1954), Powlathanga (EPC 1857) and Pigeonhole Creek (EPC 1663) tenements.
Field work has established the presence of significant quantities of potential open cut and underground mineable prime coking coal within the four tenement areas in British Columbia, huge tonnages of open cut mineable thermal coal in Queensland and coal endowment in the Cesar Basin of Colombia.
Resolve’s Colombian exploration lease is owned by International Coal Partners PL, of which Resolve holds a 50 percent stake, and follows a number of years of field trips and coking and thermal coal target generation exercises with other companies in the country. Significantly, new seismic data has allowed a tight focus on exploration in the Bosconia area of the Cesar Basin, renowned for its giant thermal coal mines, including Glencore’s La Francia mine (10Mtpa) 10km to the south, and Drummond’s La Loma mine (20Mtpa) 12km to the south east. Resolve sees the Bosconia opportunity – located 8km to the east of the Fenoco rail line, with available export capacity at a number of ports on the Caribbean Atlantic coast – as a near term, high value, low cost development within a robust statutory environment.
Plans to complete JORC compliant Indicated resource estimation on five of the company’s project areas within the next year will ensure that Resolve continues to add value to its asset base while identifying partners for near-term mine development opportunities.