49 North Resources JV Partner Announces Major Drill Program for Manitoba Coal Projects
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49 North Resources has reported that its joint venture partner, Westcore Energy will launch its major winter drilling campaign on its FNR JV coal project located near The Pas, Manitoba. The FNR JV drill program is planned for 15-20 holes (2,200 meters) and will be two-fold in its objectives.
First, to complete the delineation drilling on the Quasar Main and Quasar Satellite coal deposits in order that they may be incorporated into a NI 43-101 resource report and second, to drill a large new target that has similar geophysical characteristics to deposits on Westcore’s Black Diamond properties. Westcore as operator anticipates providing updates on a regular basis in the upcoming weeks, which will be news released as they are received. Highlights from the 2011 drill program on the FNR JV project can be found in Westcore’s news release of March 30, 2011.
49 North looks forward to this year’s winter drilling campaign to continue validating and expanding this coal project as it has large size potential in terms of both thickness and lateral extent. The project consists of five coal permits covering a large area of western Manitoba and eastern Saskatchewan, comprising approximately 10,273 hectares in aggregate. 49 North entered into a joint venture agreement with Westcore in 2010 to explore these properties.
Westcore has collected a 500 kilogram bulk sample currently being tested by Quantex Energy, a Calgary, Alberta based company developing a coal to liquefaction process for extracting synthetic crude and high-value carbon products from coal in an ultra-clean and environmentally friendly manner.
About 49 North
49 North is a Saskatchewan focused resource investment company with strategic operations in financial, managerial and geological advisory services and merchant banking. Our diversified portfolio of assets includes direct project involvement in the resource sector, as well as investments in shares and other securities of junior and intermediate mineral and oil and gas exploration companies.
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