Goldsource Discovered Coal Resources at Hudson Bay Region

Goldsource find the source of a large coal resources, coal resources estimated to be able to supply the energy needs in the province of Saskatchewan listri 10 to 20 percent.

Goldsource director, says Scott Drever, "For me this is a source of energy, and whether it is in the form of electricity through power stations or in the form of petroleum products produced through the gasification of coal, the amount is very, very big. I think, from the long-term perspective, this is a source of energy that there is no Saskatchewan two years ago for our findings. "

Goldsource coal resource estimates could reach 170 million tons of coal resource potential could supply up to 300 megawatts of electricity. The value of coal produced could reach $ 1.7 billion to $ 3.4 billion.

The development of coal resources are found are in the process of talks with the government of Saskatchewan, to conduct exploration and development of coal mining facilities.

"I had several conversations - they are very early, obviously - and we really need to get what they deserve to deal with the resource base or base backup might have been there before we can choose the direction in which we might want to go," he said .

Minister of Energy and Resources Bill Boyd said the discovery of the Border great potential to save the province, which has the third largest coal producer in Canada. Saskatchewan produces about 55 percent of power from coal, he added.

"The findings Goldsource recently looked very, very significant resources of sub-bituminous coal, which is a pretty good grade coal, better than what we have in the province at this time point," said Boyd.

"It looks very, very positive. They assume that the resources ... And I'm sure there will be interest in a very significant investor in this area."

The minister said the province saw all kinds of natural resource development "as a very positive potential." Companies that want to develop resources in Saskatchewan, however, must meet environmental criteria.

"People expect these projects will be sustainable, to be ... Handled in an environmentally responsible fashion. All this is part of that, any discussion of this," said Boyd.

Coal exploration in the Hudson Bay region of interest to the public from the year 1800, said town administrator Rick Dolezsar. Goldsource not the only coal exploration company in the area, but found the Border holding significant long-term potential of Hudson Bay, he said.

"No doubt we are very excited about the discovery and, I think, looking forward to some diversification away from the forest industry here in the Hudson Bay region," said Dolezsar.

City officials say they want to see deposits of coal power plants in this area, although there is added value to the resource will be welcomed.

"If a coal-fired power plants are built, there will be construction work for several years 500-800 and 200-300 may be operating (work), including mining, after that, that would be great for the whole region," said Dolezsar.