GOLDNEV RESOURCES INC. ANNOUNCES HATCH LTD. APPOINTED TO UNDERTAKE OIL SHALE TO LIQUIDS PLANT PRE-FEASIBILITY STUDY
15 September 2010 - 3:30PM
PR Newswire (Canada)
CALGARY, Sept. 14 /CNW/ -- CALGARY, Sept. 14 /CNW/ - Goldnev
Resources Inc. ("Goldnev" or the "Corporation") (TSX Venture
Exchange - "GNZ"), announced today that it has appointed Hatch Ltd.
("Hatch") to undertake and complete a pre-feasibility study ("PFS")
for the development of a Shale to Liquids Plant ("STL") at the
Corporation's Pasquia Hills, Saskatchewan, oil shale property. The
PFS is one of the studies necessary to explore the manner in which
the Pasquia Hills oil shale property should be developed and this
study is estimated to cost $600,000 and is expected to be completed
by February 2011. The PFS will incorporate the results of the
Corporation's recently completed core hole drilling exploration and
development program, as previously announced. This program resulted
in an internal gross contingent resources estimate of 1.878 billion
barrels of oil distillate over an identified oil shale deposit
encompassing 38,223 acres. The PFS will assess the applicable
mining, extraction and refining methods and provide details on
equipment, capital and operating costs as part of a detailed mining
and production scope analysis to confirm commerciality and/or the
conditions required for commerciality of these identified oil shale
resources. Hatch has been contracted to undertake the PFS and is a
world leader in Consulting, Engineering, Procurement and
Construction Management and is active in the principal divisions of
Mining and Metallurgy, Energy and Infrastructure. The company
comprises over 8,000 professional employees and provides
engineering expertise worldwide. Hatch has extensive expertise in
the design and engineering of oil shale mining and processing
facilities and has completed several oil shale mining, plant
construction and feasibility studies in the United States, Jordan,
Australia and China. Marc Dame, President of Goldnev, said, "The
appointment of Hatch, to undertake the Corporation's STL mining and
processing plant pre-feasibility study is an important milestone
for the continued development of the Pasquia Hills oil shale
project. This study will provide the details required to determine
the commerciality of the project and ultimately the value of the
resource. Goldnev's oil shale properties comprise of two contiguous
oil shale permits totaling 155,443 acres of oil shale rights
divided into the northern permit ("PS00243") and the southern
permit ("PS00242") and located in the Pasquia Hills oil shale
region in east central Saskatchewan. Goldnev owns a 33.33% working
interest in the southern permit ("PS00243") under which the
identified oil shale deposit is located. The Corporation also owns
a 100% working interest in the northern permit ("PS00242") which
requires further exploration. Neither the TSX Venture Exchange, nor
its Regulation Service Provider (as the term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. About Goldnev
------------- Goldnev Resources Inc. is a public energy company
focused on conventional and unconventional oil and gas production
with assets in northeastern British Columbia, southwestern Alberta
and an oil shale development project in east central Saskatchewan.
Goldnev shares trade on the TSX Venture Exchange under the symbol
"GNZ." Anyone wishing to be added to the Corporation's news release
recipients list may forward an e-mail request to
info@goldnevresources.com. on Goldnev, please visit our website at
www.goldnevresources.com, or email at info@goldnevresources.com, or
contact: Mr. Marc Dame, President and Chief Executive Officer,
Goldnev Resources Inc., Telephone: (403) 237-5711, Facsimile: (403)
718-0163, E-mail: marcdame@goldnevresources.com, Suite 485, 708 -
11th Avenue S.W., Calgary, Alberta, T2R 0E4
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