Cardero Resource Corp. (TSX: CDU) announced Jan. 6 a maiden NI 43-101 Resource Estimate for the current Carbon Creek metallurgical coal project held by the Carbon Creek Joint Venture of 290 million tonnes of Measured and Indicated and 161 million tonnes of Inferred ASTM rank mvB coal as at Nov. 1, 2014.
The current Carbon Creek joint venture property in western Canada comprises 30,390 hectares, having been recently expanded by 77% following acquisition of prospective coal license applications in September 2014.
New geological model benefits from inclusion of 23,600 metres of drilling completed in late 2012. A total of 61 coal seams and sub-seams are considered of potential economic significance and are reported as resources. Some 66% of measured and indicated resources are classified as potentially surface mineable. About 63% of the measured and indicated resources and 85% of the inferred resources are classified as Hard Coking Coal (HCC).
The resource estimate is contained in a report entitled “Technical Report – Carbon Creek Coal Property, British Columbia, Canada” dated Dec. 11, 2014, and prepared by consultant Norwest Corp. for Cardero. Cardero Coal Ltd., formerly Coalhunter Mining Corp., a wholly-owned coal exploration and development subsidiary of Cardero, is the entity which holds the interest in the Carbon Creek property.
Cardero Coal holds a 75% joint venture interest in the Carbon Creek property which is located in the Peace River Coalfield and currently consists of four coal licenses and 25 applications for coal licenses. The property totals 30,590 hectares (ha), comprising 26,910 ha of Applications and 3,680 ha of Licenses.
Cardero Coal’s interest is held through a joint venture agreement with the Carbon Creek Partnership (CCP).
The coals occurring within the Property are thought to occur in the upper to middle sections of the Gething Formation. Based on the available data and existing geological interpretation, Norwest has determined coal mineralization to be of the Moderate geology type.
Norwest validated all drill core intercepts from Utah Mines Ltd. and Cardero Coal drill programs for use in the geologic model for the property.