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Ascot Resources commences drilling at Carbones de Titiribi project in Colombia

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Canada-based coal explorer and developer Ascot Resources has initiated drilling at its 90% owned Carbones de Titiribi project in Colombia.

The company is currently operating the first of four drill rigs and employed a local contractor for drilling operations in the El Basal concession within the Titiribi license area.

Speaking on the commencement of drilling, Ascot executive chairman Paul Kopejtka stated that the company wanted to determine the results to ascertain the value the project could create for the company's shareholders.

Phase 1 drilling at Titiribi comprises 10 diamond drill holes across an area of 1,600m. Drilling aims to confirm the thickness, orientation and quality of coal seams predicted from recently completed field mapping work.

Immediately after the diamond drilling, Ascot will conduct an extensive geophysical downhole logging program to provide data to enable the interpretation of the coal seam stratigraphy and subsequent geological modelling.

Results from the modelling will aid the definition of a maiden coal resource estimate in accordance with JORC guidelines before April 2013.