West Hawk Acquires 2.1 Billion ton Historic Coal Resource in N W T.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- West Hawk Development Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:WHD WHD Wage and Hour Division (US Department of Labor, Employment Standards Administration) WHD Warhead WHD Western Hemisphere Department (International Monetary Fund) WHD Width Height Depth )(FWB (Fixed Wireless Broadband) See fixed wireless. :H5N), the "Company" is pleased to announce it has successfully completed the acquisition, from an arms length vendor, of a number of large Coal holdings in Northern Canada Northern Canada is the vast northernmost region of Canada variously defined by geography and politics. Definitions and usage Also referred to as the Canadian North or (locally) as the North . The Company is pleased to announce that it has acquired through an out right purchase agreement all rights to 272,503 acres of Coal licenses in the Tulita (formerly Ft. Norman), Seagull seagull a noisy, gregarious bird that frequents the seashore. Web-footed, hook-billed, white with gray wings. Member of the family Laridae and of the genus Larus. Island, Tate Lake and the Mattson Formation on or near the navigable NAVIGABLE. Capable of being navigated. 2. In law, the term navigable is applied to the sea, to arms of the sea, and to rivers in which the tide flows and reflows. 5 Taunt. R. 705; S. C. Eng. Com. Law Rep. 240; 5 Pick. R. 199; Ang. Tide Wat. 62; 1 Bouv. Inst. n. Mackenzie and Liard Rivers in Northwest Territories Northwest Territories, territory (2001 pop. 37,360), 532,643 sq mi (1,379,028 sq km), NW Canada. The Northwest Territories lie W of Nunavut, N of lat. 60°N, and E of Yukon. , Canada. The Coal Licenses cover areas examined in the 1970's by Luscar Ltd., Manalta Coal Ltd and Utah Mines Ltd. Techman Ltd completed a Pre-Feasibility study in 1979 for Manalta at the Fort Norman project, which included the Seagull Island deposit, both directly adjacent to the Mackenzie River. Following a 22-hole drill program completed in 1975, on the then 11,500 acre property, the study cites in-place (inferred) reserves calculated at 272,834,000 tons of thermal coal, of which 80% was deemed recoverable using low-ratio strip mining methods. Seagull Island: With the abundance of available reserves, a prime mining area was outlined on the Seagull Island prospect with sufficient coal in place to support a very large dragline drag·line n. 1. A line used for dragging. 2. A kind of dredging machine. stripping operation barging a million tons per year of coal south to north central Alberta. In addition, access to potential future markets exists to the north through navigable arctic waters. The Company notes that with polar shipping realities becoming more tangible, reliable access to world markets via Atlantic and Pacific shipping lanes is becoming more of a reality. Techman also suggested that the basin could be one of the better possible coal gasification sites in North America. Techman noted that while higher costs of a northern mining operation exist, they would be offset by the coal field's typical low stripping ratios, and the geographical location of the reserves are in an important position with respect to the total energy development picture for Northern Canada. Ft. Norman Deposit: The location of the Ft. Norman Deposit, consisting of 117,572 acres, shows tremendous potential for the delivery of natural gas from an envisioned mine mouth coal to gas, coal gasification/methanization facility, accessed through an existing winter road and the planned Mackenzie Valley Pipeline This article or section contains information about a planned or expected pipeline. It may contain information of a speculative nature and the content may change dramatically as the construction and/or completion of the pipeline approaches, and more information becomes available. route, which passes through the property. Coal quality on the Ft. Norman property ranged from Lignite lignite (lĭg`nīt) or brown coal, carbonaceous fuel intermediate between coal and peat, brown or yellowish in color and woody in texture. to sub bituminous bi·tu·mi·nous adj. 1. Like or containing bitumen. 2. Of or relating to bituminous coal. Adj. 1. bituminous - resembling or containing bitumen; "bituminous coal" "C" in rank, with an averaged in-situ 7400 BTU's/lb product value. Moisture and mineral free values are 12,150 BTU's/lb, Ash less than 15%, Volitiles 29%, Sulfur 0.45% and Carbon 62.1%. At a mining rate of 1 million tons/yr. with 80% recoveries and including only the 12-13ft. thick upper seam (the 4.5 ft. lower seam needs more drilling to confirm continuity) at Seagull Island and the 10.5-22.5ft. seam at the Ft. Norman projects, the resource could support a mining operation for about 185 years with stripping ratios being 0.4:1 for the first 5yrs. and averaging 2.5:1 through year 20 and deemed potentially expandable to a 300yr. mine life. The Company notes recent changes in coal tenure regulations, since the time of Manalta's 1979 pre-feasibility study, permit much larger coal holdings increasing the Company's coal potential in this valuable coal basin. Tate Lake: The 111,578 acre Tate Lake coal prospect lies 30 miles south of the Ft. Norman project and the town of Ft. Norman, and 60 miles S.E. of Norman Wells, the major centre for the region. A 1975 report by R. Engler for Luscar Ltd. notes: Three coal seams are inferred to underlie 34,412 acres within the eastern half of the property where the in-place reserve would be 2.1 billion tons. A later, 1977 report, by A.C. Newson and G. McCourt for Luscar Ltd. stated; geological mapping of the area delineated coal reserves (proven and probable) of 315 million tons of lignite. Recoverable reserves are 227.4 million tons (68.2 million proven and 159.2 million probable) within 200ft.of surface with seams of 4.5ft. and two seams of 15ft. with a 5ft. parting. Proximate proximate /prox·i·mate/ (prok´si-mit) immediate or nearest. prox·i·mate adj. Closely related in space, time, or order; very near; proximal. proximate immediate; nearest. air dried analysis of 60 coal samples from each zone averaged as follows; Lower Zone - Moisture 11.58%, Ash 10.96%, Gross BTU/lb 8,636, Middle Zone - Moisture 11.37%, Ash 11.27%, Gross BTU/lb 8,683 Upper Zone - Moisture 9.82%, Ash 11.27%, Gross BTU/lb 7,927 Assuming 30% moisture on an as received basis values would range up to 6,858 BTU/lb. Fort Liard: The 43,353 acre Fort Liard project lies 3 miles west of the navigable Liard River and 40 miles NW of the town of Ft. Liard. A June 1979 report filed by RP Hill for Utah Mines LTD delineated a hypothetical resource for the southern Mattson Formation and Sawmill sawmill, installation or facility in which cut logs are sawed into standard-sized boards and timbers. The saws used in such an installation are generally of three types: the circular saw, which consists of a disk with teeth around its edge; the band saw, which Mt. of 260 million tons and 170 million tons, respectively. In the centre of the Mattson Formation 3 coal seams, each about 5ft. thick, where observed with 2 oxidized oxidized having been modified by the process of oxidation. oxidized cellulose see absorbable cellulose. samples returned values as follows; Sample 1 - Moisture 11.73%, Ash 4.79-5.43%, Volatile 37.74-42.75%, Fixed Carbon 45.74-51.82%, BTU/lb 11,080-12,552, Sulphur 1.97-2.23%, FSI FSI Foreign Service Institute FSI Fluid Structure Interaction FSI Fuel Stratified Injection FSI Federazione Scacchistica Italiana (Italian Chess Federation) FSI Free Standing Insert FSI Flight Simulator 1. Sample 2 - Moisture 12.85%, Ash 3.15-3.16%, Volatile 35.50-40.74%, fixed Carbon 49.90- 56.10%, BTU/lb 10,992-12,532, Sulphur 1.80-2.07%, FSI 1. Samples fall within the range of high volatile C Bituminous coal. Details of the purchase agreement for a 100% interest in the previously described coal licenses are as follows; The Company will within five business days of TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. approval pay $C25,000 and issue common shares of West Hawk Development Corp. on the following schedule: 200,000 shares within five business days of Exchange approval, 200,000 shares by August 15, 2006, 200,000 shares by February 15, 2007 and 200,000 shares by August 15, 2007. The agreement also stipulates a royalty of $C0.10 per ton. The agreement is not subject to any work commitments. The above information is historical in nature and is not to be relied upon. The historical resource does not use categories stipulated in National Instrument (NI) 43-101. The company advises that it has not done the work necessary to verify this classification of the mineral resource. The company is not treating the historical resource estimate as an NI 43-101-defined resource or reserve verified by a qualified person. The company is not aware of any more recent estimates or available data. The company is commissioning an independent review of all the historical data in order to ascertain an inferred mineral resource estimate compliant with the National Instrument 43-101 guidelines. This news release contains definitions ascribed by the Geological Survey of Canada Paper 88-21 "A standardized Coal Resource Reserve Reporting System for Canada". The information contained in this news release, has been reviewed, approved and deemed relevant by Michael Sandidge P Geo., the qualified person. About the Company - West Hawk is a mineral exploration and development Company committed to building shareholder value through the development of its Coal properties in Western and Northern Canada. ON BEHALF OF THE BOARD OF DIRECTORS Michael Townsend, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission The British Columbia Securities Commission (BCSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of British Columbia. External links
The TSX Venture Exchange has not yet reviewed and does not take re sponsibility for the adequacy or accuracy of the content of this news release. West Hawk Development Corp. (TSX VENTURE:WHD) (FRANKFURT:H5N) |
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