Lucky Strike Resources -Review China Coal Projects for Acquisition
Directors of Lucky Strike Resources are pleased to announce the reviewing of a proposal from Cheung Wan (Groups) Energy Development Limited of Hong Kong (Cheung Wan) for commercial transaction of their 100% owned coal tenement.
Vancouver, Canada, July 09, 2010 --(PR.com)-- Lucky Strike Resources Ltd. (LKY TSX-V) is pleased to announce that it is reviewing a proposal from Cheung Wan (Groups) Energy Development Limited of Hong Kong (Cheung Wan) for commercial transaction of their 100% owned coal tenement, a former producer known as the Changyun Anthracite Project located in Guizhou Province of China. This proposal comes via recently engaged project acquisition consultant SinoCan Coal Limited, please see press release dated May 26, 2010.
The Changyun Anthracite Project, is located within the Bijie coal fields in Guizhou Province, China. The mine permit covers a total area of 2.0954 sq. km and is surrounded by approximately 20 sq. km of highly prospective strata. Changyun has the first right of refusal for the exploration rights to the surrounding 20 sq. Km area. There are valid mining permits for a 150,000 MT per year coal mining operation, which may be expanded to 300,000 - 500,000 MT per year. A ready market for production exists with the nearby power plants and other end users within Guizhou province. Local Infrastructure is well established with roads, electrical infrastructure and a highly trained work force.
The 113th Geological Team estimates a total coal resource for the 2.09 sq. km mining area at a total of 20.54 Million Mt (non-compliant with National Instrument 43-101). Lucky Strike will undertake an independent geological review of the project which will include the preparation of a technical report on the property.
Christian Derosier P.Geo., the Company’s Exploration Supervisor will conduct the internal pre-purchase due diligence. Due diligence will include a historical technical report and a proposed work plan for the project. Dr. Derosier has over 30 years experience as a consulting geologist and has experience with coal operations of this type.
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The Changyun Anthracite Project, is located within the Bijie coal fields in Guizhou Province, China. The mine permit covers a total area of 2.0954 sq. km and is surrounded by approximately 20 sq. km of highly prospective strata. Changyun has the first right of refusal for the exploration rights to the surrounding 20 sq. Km area. There are valid mining permits for a 150,000 MT per year coal mining operation, which may be expanded to 300,000 - 500,000 MT per year. A ready market for production exists with the nearby power plants and other end users within Guizhou province. Local Infrastructure is well established with roads, electrical infrastructure and a highly trained work force.
The 113th Geological Team estimates a total coal resource for the 2.09 sq. km mining area at a total of 20.54 Million Mt (non-compliant with National Instrument 43-101). Lucky Strike will undertake an independent geological review of the project which will include the preparation of a technical report on the property.
Christian Derosier P.Geo., the Company’s Exploration Supervisor will conduct the internal pre-purchase due diligence. Due diligence will include a historical technical report and a proposed work plan for the project. Dr. Derosier has over 30 years experience as a consulting geologist and has experience with coal operations of this type.
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Contact
Lucky Strike Resources Inc
Monty C. Ritchings
604-681-8225
www.luckystrikeresources.com
Monty C. Ritchings
604-681-8225
www.luckystrikeresources.com
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