VANCOUVER – NEMI Northern Energy & Mining Inc. announces its on-going plans for exploration and development planning for its northeast BC coal projects.
With the recent closing of a $3.3 million brokered private placement financing, the Company is in a position to carry out its planned work programs on the Trend and Saxon properties.
The Trend property, because of its advanced exploration and proximity to infrastructure, is NEMI¡¦s priority project. The Trend property is located only 25 km south of Tumbler Ridge and only 12 km south of the BC Rail spur into the Quintette mine site. The Company¡¦s short-term objective is to complete a feasibility program based on an initial development of a mine with an annual production level of 1.5 million tonnes of product from the South and Extension blocks. To this end, the Company¡¦s 2004 work program includes:
?« Updated geological reports and models for the South and Extension mining blocks in Q1.
?« Mine development and mining options assessment in Q1 and Q2.
?« Infill drilling, bulk samples, site investigations in Q3
?« Initiation of the feasibility study program in Q3.
?« Environmental baseline and impact assessment programs during Q3 and Q4.
?« Exploration on the Roman, Q West and Hambler blocks in Q3.
?« Updated geological reports on all coal blocks in Q4.
?« Completion of Trend project feasibility study in Q1, 2005.
The Trend feasibility study will be carried out by a recognized, independent engineering / consulting firms experienced in coal mine development.
With the ability to expand exploration on the overall Trend property, Management is targeting development and classification of up to 75 million tonnes amenable to open-pit mine development by year-end. Development of this tonnage will support Management¡¦s objective of expanding production from 1.5 million up to 3 million tonnes per year.
Although the Saxon Property is located further from existing infrastructure, the large coal tonnage and excellent coking coal characteristics, potentially support a large mine development as was contemplated in the late seventies when extensive exploration and assessment were done on the property.
The Saxon property encompasses 4 large mining blocks, East, South, North and Omega, with the deposits all located within a 15-km radius of sites suited to having a central wash plant and services facilities.
NEMI will shortly receive a final report providing a technical review of the resources on the South, East, and Omega blocks. Management is planning further geological work this year, together with assessments to examine property development and transportation options.
Further information can be obtained from David Fawcett, Chief Operating Officer, or David Austin, President at 604-689-0277, or by visiting the website www.nemi-energy.com .
NEMI NORTHERN ENERGY & MINING INC.
Chief Operating Officer
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