Peat Resources in Newfoundland
December 09 2013 - 2:05PM
Marketwired
Peat Resources in Newfoundland
TORONTO, ONTARIO--(Marketwired - Dec 9, 2013) - Peat Resources
Limited (TSX-VENTURE:PET) is pleased to advise that the company has
secured new exploration rights for 36,075 hectares of peatlands in
central and western Newfoundland. Twelve exploration licences were
awarded by the Newfoundland Department of natural Resources for
exploration and evaluation of prospective peatlands in the Botwood
(central NL) and Stephenville-St. Georges (western NL) regions.
Botwood, Stephenville and St. Georges all have port facilities
suitable for international shipping.
Peat Resources Limited has been actively exploring and
evaluating promising peat resources and peat fuel markets in
Newfoundland since 2007 and has built and operated a wholly owned
pilot production facility for peat fuel pellets in Stephenville.
Bulk samples of the peat fuel pellets have been assessed at a
number of locations in Canada and the U.S., including Ottawa's
CANMET Laboratory. Shipments have been made to the Netherlands,
South Africa and China for testing and marketing purposes. This
previous work has confirmed the quality of Newfoundland's peat as a
sustainable source of biomass fuel. The area now under licence is
estimated to contain peat tonnages adequate to service large
long-term (+20 year) contracts. This will be confirmed by detailed
resource evaluation of the new exploration properties planned for
2014.
Peat Resources Limited was formed to explore, develop and
produce peat fuel - a sustainable bioenergy resource. The company
is active in Ontario and Newfoundland. The company has developed an
environmentally acceptable harvesting and processing system to
supply consistent quality peat fuel in long-term (+ 20 year)
contracts to utilities and other industrial operations for heat and
power generation. The Company is also investigating development of
value-added biocarbon derivatives from peat pellets such as
activated carbon for which there is growing demand in many
industrial and domestic applications.
Forward-Looking Information
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future
production, reserve potential, exploration drilling, exploitation
activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes the
expectations expressed in such statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in the statements. There are certain factors
that could cause actual results to differ materially from those in
forward-looking statements. These include market prices,
exploitation and exploration successes, continued availability of
capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are
not guarantees of future performance and actual results or
developments may differ materially from those projected in the
forward-looking statements. For more information on the Company,
investors should review registered filings at
www.sedar.com.
Neither the 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.
Peat Resources LimitedPeter Telford(416) 862-7885(416)
862-7889ptelford@peatresources.comwww.peatresources.com
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