Silverfields Resources Applies for Additional Saskatchewan Coal Permits
Silver Fields Resources Inc. (“Silver Fields”; “the Company”), announces that the Company has made application for additional coal permits covering 9,600 hectares southwest of Wapawekka Lake and southeast of Lac La Ronge near the intersection of Highways 165 and 912, in accordance with the Coal Disposition Act of Saskatchewan. The time frame for granting of the permits is dependent upon regulatory requirements to process the applications. Dr. K.W. Geiger Ph.D., P.Eng., P.Geo., a director of the Company, was recently in La Ronge with an advance exploration crew, researching historical coal documents and urged management to apply for the additional permits. In the project area, outcrops of coal have been reported on the south shore of Wapawekka Lake near Hart Point and Wapaw Bay, as well as along the Bow River south of Lac La Ronge.
According to Saskatchewan Exploration and Development Highlights 2007: The Bow River coal field was investigated in the mid 1970’s by Brascan Resources Limited, who completed 72 drill holes and identified shallow lignite, a coal which is suitable for thermal power generation. Santoy Resources Ltd. which now owns the project, completed 16 vertical HQ diamond drill holes in May 2006 with the intention of verifying coal and overburden thicknesses. Santoy subsequently reported that results from the preliminary drilling were positive and revealed that coal seams in the area are more numerous, substantially thicker and of apparently better rank than indicated by past exploration programs. All of the coal intersections are relatively shallow with most within approximately 250 ft (76 metres,) of surface.
Chris England, President & CEO of Silver Fields commented, “The recent research by Dr. Geiger in Regina, and Lac La Ronge continues to provide positive data which reinforces management’s decision to selectively apply for new coal permits in this area.”
Management will keep Silver Fields shareholders aware of the status of the coal permits, which have been filed with the Saskatchewan Ministry of Energy and Resources, located in Regina Saskatchewan
Statements about the Company’s future expectations and all other statements in this press release other than historical facts are “forward looking statements”. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time. The Company’s actual results may differ materially from the expected results.
We seek Safe Harbor.