Business & Finance
Wed, April 20, 2011Tue, April 19, 2011Mon, April 18, 2011Sun, April 17, 2011Fri, April 15, 2011Thu, April 14, 2011Wed, April 13, 2011Tue, April 12, 2011Mon, April 11, 2011Initial EmberClear NI 43-101 Technical Report Estimates 163 Million Tons of Anthracite Coal Resource at Tracy Slope Mine
Published in Business and Finance on Monday, April 18th 2011 at 3:40 GMT by Market Wire
CALGARY, April 18 /CNW/ - EmberClear Corp. (TSXV: EMB) ("EmberClear" or the "Company") is pleased to announce that its wholly owned subsidiary, EmberClear Reserves Inc., has obtained an independent National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") compliant technical report (the "Technical Report") dated April 16, 2011 on its mineral resources at its Good Spring Property ("the Property" or "Tracy Slope Mine") located in Schuylkill County, Pennsylvania. The Technical Report was prepared under the supervision of James S. Canterbury of Summit Engineering Inc. ("Summit") and is entitled "An Independent National Instrument 43-101 Report Summarizing Mineral Resources of EmberClear Reserves Inc., Porter and Frailey Townships Schuylkill County, Pennsylvania". The Technical Report indicates that there are approximately 163 million mineral resource tons on the Property in the 22 seams evaluated in the Technical Report, as further described below. The complete Technical Report is available on the Company's website [ www.emberclear.com ] and under the Company's SEDAR profile on [ www.sedar.com ].
"The Technical Report substantiates our aim to create one of the largest anthracite coal mines for our own requirements and the merchant market. It's very satisfying to see the years of work compiling such a large contiguous property of highly concentrated metallurgical coal culminate into this type of a coherent mining program," stated Albert Lin, CEO of EmberClear.
The following Mineral Resource Tons summary estimate table is from the Technical Report.
| Good Spring Property | |||||||||||||
| Mineral Resource Tons | |||||||||||||
| Seam | Measured | Indicated | Inferred | Total | |||||||||
| Peach Mountain | 0 | 0 | 2,842,842 | 2,842,842 | |||||||||
| Little Tracy | 0 | 0 | 3,920,068 | 3,920,068 | |||||||||
| Tracy | 2,749,351 | 2,154,232 | 2,027,314 | 6,930,897 | |||||||||
| Little Diamond | 0 | 0 | 3,383,217 | 3,383,217 | |||||||||
| Diamond | 0 | 0 | 6,484,500 | 6,484,500 | |||||||||
| Orchard | 870,291 | 8,180,735 | 2,752,644 | 11,803,670 | |||||||||
| Primrose | 90,846 | 6,439,987 | 7,018,483 | 13,549,316 | |||||||||
| Holmes | 950,892 | 2,486,406 | 9,144,042 | 12,581,340 | |||||||||
| Four Foot* | 0 | 0 | 0 | 0 | |||||||||
| Mammoth Top Split | 1,931,712 | 6,929,354 | 0 | 8,861,066 | |||||||||
| Mammoth Middle Split | 0 | 0 | 15,097,608 | 15,097,608 | |||||||||
| Mammoth Bottom Split | 0 | 452,261 | 10,654,795 | 11,107,056 | |||||||||
| Skidmore | 1,201,460 | 4,360,854 | 2,684,278 | 8,246,592 | |||||||||
| Seven Foot | 0 | 3,416,217 | 5,380,148 | 8,796,365 | |||||||||
| Buck Mountain | 999,427 | 3,802,330 | 2,747,047 | 7,548,804 | |||||||||
| Scotty Steel #3 | 0 | 0 | 12,090,303 | 12,090,303 | |||||||||
| Lyken Valley #1 | 0 | 0 | 1,703,356 | 1,703,356 | |||||||||
| Lyken Valley #2 | 922,402 | 10,903,267 | 7,909,766 | 19,735,435 | |||||||||
| Lyken Valley #3* | 0 | 0 | 0 | 0 | |||||||||
| Lyken Valley #4 | 0 | 1,151,586 | 2,699,871 | 3,851,457 | |||||||||
| Lyken Valley #5 | 0 | 406,211 | 4,869,253 | 5,275,464 | |||||||||
| Lyken Valley #6* | 0 | 0 | 0 | 0 | |||||||||
| Total Resource (tons) | 9,716,381 | 50,683,440 | 103,409,535 | 163,809,356 | |||||||||
Note: (*) There was no data available at the effective date of the Technical Report to conclude resource tons. The resource and reserve tons for these seams will be validated with a subsequent drilling plan.
The Technical Report explains that the geologic structure within the property is somewhat complex, consisting of generally asymmetrical northeast-southwest striking synclines whose structure is modified by a series of faults. The fault-system is the area dominated by thrust faults and the faults have had a significant effect on the anthracite coal resources. The economic benefit associated with this geology is that the folding and faulting has increased the amount of coal available beneath a given property area, particularly where properties are situated over synclines and anticline.
To view the Geology Cross Section taken from the Technical Report please visit: [ http://files.newswire.ca/948/Cross-Section.pdf ]
The following table is derived from the Technical Report and compares the average values for anthracite coal (as indicated in the Technical Report) to Summit's estimate of the composite anthracite coal quality on the coal seams within the Property area using data provided by EmberClear. The Technical Report states that the values in the table may be good representative average values of the coal quality of the Property, but further exploration and testing is needed to verify this.
Anthracite Average Coal Quality ("As Received" Basis)
| Average | Good Spring | |||||||
| Volatile Matter (%) | 5 - 8 | 6.50 | ||||||
| Fixed Carbon (%) | 70 - 75 | 71.60 | ||||||
| Ash (%) | 7 - 24 | 17.86 | ||||||
| Sulfur (%) | .5 - 2.0 | 0.58 | ||||||
| BTU (%) | 10,000 - 13,000 | 11,638 |
"We are excited to embark on a detailed drilling and characterization engineering study within the next 30 days with the intention to re-classify the resources into reserves and to accurately quantify the size of the Tracy Slope Mine seams currently recorded as zero," Lin said.
Qualified Person
James Canterbury, P.E., MBA, Vice President of Summit Engineering Inc., is a "Qualified Person" and independent of the Company in accordance with NI 43-101. Mr. Canterbury has reviewed and approved the technical and scientific information contained in this news release.
About EmberClear
EmberClear is an advanced energy development company. Based on global energy needs from a growing population, our solutions are designed to deploy commercial scale energy technologies, which enable dramatic improvements in the efficiency and cleanliness of fossil fuels and alternative energy sources. Our goal is to find economically viable business models with the potential to deliver reduced emissions of over 50% when compared to industry average results in the utilization of coal while also deploying state of the art carbon dioxide capture solutions.
Our expertise is being utilized by a diverse group of governments, utilities, miners, and industrial companies spanning a wide range of geographies with the common interest in creating gasification, supercritical (SC), ultra-supercritical (USC), circulating fluidized bed (CFB) and post-combustion carbon dioxide capture (PCC) energy solutions producing electricity, synthetic gas, liquid fuels, fertilizers, and industrial construction products. Our solutions often include the vast thermal chemistry sciences and processes developed by the world's largest power company, Huaneng Clean Energy Research Institute (Huaneng CERI). As the leading firm in experience and resources devoted to this industry, our partnership ensures proven energy solutions are also financially sustainable so that the benefits accrue to the global marketplace and not just a few special projects.
For more information please visit [ www.emberclear.com ].
Safe Harbour for Forward-Looking Statements
Certain statements contained in this document constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of the "safe harbour" provisions of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate," "continue," "estimate," "expect," "forecast," "may," "will," "project," "could," "plan," "intend," "should," "believe," "outlook," "potential," "target," "seek," "budget," "predict," "might" and similar words suggesting future events or future performance. All statements other than statements of historical fact may be forward-looking statements. In particular, this document contains forward-looking statements pertaining to the estimates of coal resources, the quality of those coal resources, and the Company's plan to conduct a detailed drilling and characterization engineering study within the next 30 days for the purpose of re-classifying the resources identified in the Technical Report into reserves and to quantify the size of the Tracy Slope Mine seams currently recorded as zero in the Technical Report. With respect to forward-looking statements contained in this document, we have made assumptions regarding the worldwide demand for coal, demand and political support for clean energy technologies and the existence of coal resources or reserves on the Property. Although we believe that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause our actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Important factors that could cause these differences include but are not limited to: the Company may be adversely affected by other economic, business and/or competitive factors; the worldwide demand for coal; the price of coal; the price of alternative fuel sources; the supply of coal and other competitive factors; the costs to mine and transport coal; the ability to obtain new mining permits; the risks of expanding coal production; the Company's ability to continue to execute its growth strategies; and general economic conditions. The forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
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