HALIFAX, NOVA SCOTIA -- (Marketwire) -- 03/18/13 -- Morien Resources Corp. ("Morien" or the "Company") (TSX VENTURE: MOX) today provides an update on the Xstrata sales process, the Environmental Assessment process, and recent results from a bulk sampling program at the Donkin Coal Project ("Donkin" or the "Project") located in Cape Breton, Nova Scotia, Canada.
"Although the Xstrata sales process has stretched beyond the targeted date, we have been assured by Xstrata and the Province of Nova Scotia that all efforts are being made to bring the process to a rapid close. Morien continues to stand ready to take on a more active role with its potential partners should the Xstrata sale process fail to proceed to a favorable conclusion," said John Budreski, CEO of Morien. "Recent tests confirm Donkin's very high heat content, extremely low ash and favorable high-volatile coking characteristics, suggesting the product produced for both power generation and steel manufacturing will be very desirable. This quality, combined with the coal seam's thickness and lateral continuity, the Projects existing infrastructure and close proximity to local thermal markets and a deep-water port, provide Donkin with strong advantages in today's growing seaborne coal market."
Bulk Sampling and Coal Analyses
Morien recently completed a bulk sampling program from the Harbour coal seam, the principal target seam at Donkin. Approximately 600 kilograms (1,320 pounds) of sample material was extracted from a 3.45 metre thick section near the base of the main access tunnel. The sampling was carried out and supervised by Conestoga-Rovers & Associates. A total of twenty two samples were collected on a ply-by-ply basis from the floor to the roof of the coal seam. Approximately 400 kilograms (880 pounds) of the bulk sample material was sent to SGS Laboratories in Kentucky and West Virginia for a comprehensive suite of tests to confirm thermal and coking coal qualities.
With this bulk sample, Morien wanted to assess the sulphur beneficiation opportunity and the resultant impact on other coal quality parameters and yield from utilizing a lower density laboratory separation. Out of seam dilution and wash plant efficiency were not considered. Clean coal analysis was performed on a low density laboratory separation of floats 1.30 g/cc material, producing a theoretical yield of 64%, on the full seam section. The June 2011 NI 43-101 pre-feasibility report, which can be found on SEDAR, employed a compilation of clean coal composite results from various working sections and separating densities between 1.40 g/cc and 1.60 g/cc with an average simulated yield of 81%.
As shown below, the coal quality results confirm that the Harbour coal seam will produce a very high energy and low ash product, with excellent high-volatile coking coal characteristics, and based on this sample, lower sulphur levels. All results below are on a washed clean coal, air dried basis.
- Calorific Value - The energy value of 14,580 BTU/lb (8,100 kcal/kg) is well above other coals and will be advantageous in pricing
- Ash - The low ash content of 3.5% is well below the ash content of competing coals and will attract a pricing premium
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