New Colombia Resources submitted a tender request to Cabo Drilling and is waiting for a quote for their metallurgical coal mine project in Guaduas, Colombia. The Company visited the site with a representative of Cabo Drilling, a Canadian company with offices in Panama and Colombia. New Colombia expects to drill a minimum of 1200 meters that may be extended to 2000 meters. The recently completed drill program from SGS recommends 4 holes of 300 meters each – however, upon the site visit, the company would like to extend that program by 4 holes of 200 meters each for a total of 2000 meters.
On the September 7, 2013 visit, the Company discovered 3 additional outcrops in a ravine that had been covered by a landslide in 2012. These outcrops provide the Company a good direction of where to drill.
The Company is also getting quotes from other drillers in the area to choose the best estimate for the work that needs to be done. Upon completion of the drilling, SGS will take the core samples to their laboratory in Barranquilla, Colombia for analysis and a subsequent N.I. 43-101 Technical Report. The drill results will also allow the Company to complete their environmental impact study and an in-depth 3D Geological Model.
New Colombia Resources plans to apply for their drill permits this week at the C.A.R. (Autonomous Regional Corporation) in Guaduas, Cundinamarca. The Company expects this permit process to take less than 7-10 business days.
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