Novadx Ventures Corp.(TSXV:NDX) announced the latest updates for the Rex Coal seam at the Rex mine, Tennessee. The Company received results from an independent data evaluation of the resources at the mine. Novadx are also preparing an updated NI 43-101 technical report.
- Total Measured and Indicated Resources of 38.1M tons.
- Total Proven and Probable Recoverable Reserves of 11.3M tons.
- New estimate improves confidence in mineable reserves and mine plan.
- Expected mine life of over 20 years.
Novadx, President and CEO, MR.MacDonald, said:
We are pleased with the results and quality of work that Marshall Miller has completed. We now have a much higher level of confidence in the current mineable reserves and mine plan at Rex. Overall the resource and reserve potential of the property we control has been confirmed. Based on our current plans, the current Proven and Probable Reserves estimates support over a 20 year expected mine life and we intend to continue to add to our reserves through further drilling and property acquisition.