Corsa Receives Approval for Option on Miller-Walker Coal Lease, Pennsylvania, USA
Vancouver, B.C. – Corsa Capital Ltd. (CSO: TSX-V) (“the Company”) announced today it has received TSX-V approval for the option agreement, as announced December 21, 2009, with Sherpa Mining Contractors, Inc. (“Sherpa”) on the “Miller-Walker Property” Coal Lease in Somerset County, Pennsylvania, USA.
The option with Sherpa is for Corsa to acquire certain mining rights to the 105 acre Miller-Walker Property, (“Property”), a metallurgical coal lease in Somerset County, Pennsylvania, USA. Based on site-specific testing and mapping work conducted on the Property, Miller-Walker hosts three distinct coal seams containing 299, 293 recoverable tons of “low-volatile bituminous coal” in an “Indicated Resource” category as defined by National Instrument 43-101. The grade or quality of these seams, after typical local beneficiation, is primarily suitable as a coking coal.
A full technical report on the Miller-Walker Property, entitled “Technical Report on Coal Resources Miller-Walker Property, Stonycreek Township, Somerset County, PA, USA” and dated February 10, 2010, and posted to SEDAR April 12, 2010, is available on www.sedar.com.
Corsa’s disclosure of a geological nature in this news release has been verified and approved by Dennis A. Noll, P.G., of Earthtech, Inc. Mr. Noll is an independent consultant retained by the Company to prepare the aforementioned technical report on the Miller-Walker Property in compliance with National Instrument 43-101, and serves as a Qualified Person under the definition of National Instrument 43-101 for the purposes of this news release.
For a full description of the option terms on the Miller-Walker Property, please see Corsa news release from December 21, 2009 or click on this link: http://www.corsacapital.com/news/index.php?&content_id=29
About Corsa Capital
Corsa Capital Ltd. is a Vancouver, BC based mineral resources company. Corsa’s management team, board of directors, and advisory board, have significant experience in mineral resource property acquisition, finance, and operations. Corsa’s team has specific experience in developing and mining coal deposits and they are currently conducting due diligence, evaluation work and discussions on several development projects, mining operations and corporate opportunities in the coal sector.
Please visit www.corsacapital.com for more information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain disclosures in this release, including management's assessment of Corsa’s plans, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Corsa's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Corsa expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.