La Estrella Coal Project
Santander, Colombia
Fully Permitted, Highly Profitable Coking and Thermal Coal Project
FORGE RESOURCES CORP HOLDS A 40% INTEREST IN PERMITTED COAL PROJECT
About Aion Mining Corp.
Aion Mining controls the FLG-111 concession that covers 548 Ha in a region of historic and current coal mining. Historical exploration within this concession area has determined the property to host several coking and thermal coal seams. Aion holds historical NI 43-101 and Annual CRIRSCO technical reports. The project is road accessible, water, electricity, and phone signal on site. Current coal stockyards approximately 40 kilometres away on main highway to Atlantic ports for export.
Aion Mining Corp. -A Strategic Investment with a Potential Path to Generating Revenue:
- The property contains eight known seams of metallurgical and thermal coal shown from recent and historical diamond drilling programs and surface exposures
- The project is fully permitted under Colombian Law, including environmental licensing
- Location and existing regional coal mining infrastructure is excellent
- Recently completed a drill program that further confirms the existence and location of seams and contained coal quality
- Diverse and experienced Colombian management team consisting of mining and civil engineers, geologists, and an experienced social and environmental manager
- Country manager was formerly a member of the Board of Directors of the Federation of Colombian Coal Producers.
- Aion will proceed with performing underground bulk sampling of the different seams
37% of the world’s electricity and
over 70% of the world’s steel is produced using coal.
Coal plays a major role in delivering power across the globe – it is still the world’s largest single source of electricity and will still contribute 22% in 2040. This figure is even higher in emerging markets – in Southeast Asia, coal will fuel 39% of electricity in 2040.
Source: World Coal
REDUCING PARTICULATE EMISSIONS
Several technologies have been developed to control particulate emissions and are widely deployed worldwide including coal cleaning, electrostatic precipitators (ESP), fabric filters, wet scrubbers and hot gas filtration systems. As well as capturing particulates, these technologies can increase SO2 removal, capture particulates and reduce the release of pollutants. Technologies can reduce particulate emissions by over 99.5% and are widely applied in both developed and developing countries.
CEMENT PRODUCTION
A high-temperature kiln, often fueled by coal, heats the raw materials of calcium carbonate (generally in the form of limestone), silica, iron oxide and alumina to a partial melt at 1450°C, transforming them chemically and physically into a substance known as clinker. This grey pebble-like material comprises special compounds that give cement its binding properties. Clinker is mixed with gypsum and ground to a fine powder to make cement. Coal combustion products (CCPs), such as Fly Ash also play an important role in cement manufacturing and in the construction industry.
ALUMINIUM PRODUCTION
Coal is a key energy fuel in the production of aluminum –a non-ferrous metal known for its lightweight properties and widely used in cars, trains, and airplanes to reduce the weight of these vehicles and their energy consumption. Coal accounts for over 60% of the energy used to produce aluminum.
Source: World Coal
In this section, we present the key details of Aion Mining Corp.’s significant mining venture in Colombia’s Santander region. This project holds immense promise, boasting historical resources, strong financial projections, and favorable market conditions, all within a mining-friendly jurisdiction.
PROJECT SUMMARY
Fully licensed, from Exploration to Production: Approved 180,000 Mt/year possibility to increase
Environmental License granted Mining concession granted for 45 + years
LOI’s to purchase 100% of bulk sample to production from top coal buyers
SRK Consulting (UK) Ltd. NI 43-101 report by Paul Bright, Principal Geologist February 2012 outlining Historical Measured/Indicated and Inferred Resources
50% High Volatile Coking –50% Thermal
Favorable market conditions & strong demand of Colombian Coal for international markets
Mining-friendly jurisdiction with Colombia ranked among top 10 producers of thermal and coking coal
Historical Resource Estimate*
| Type | Qty of Seams |
Measured Resources |
Indicated resources |
Inferred Resources |
|---|---|---|---|---|
|
RESOURCES |
8 |
1,846,470 |
4,339,147 |
16,471,037 |
*According to SRK Consulting (UK) NI 43-101 report dated February 2012 by Paul Bright, Principal Geologist Drilling Campaign of 2023 concentrated in 5% of the area of the mining concession. Geology shows the potential to find additional coal seams.
FORGE RESOURCES CORP’S QUALIFIED PERSONS HAVE NOT DONE SUFFICIENT WORK TO CLASSIFY THE HISTORICAL SRK ESTIMATE AS CURRENT RESOURCES OR MINERAL RESERVES AND IS NOT TREATING THE HISTORICAL ESTIMATE AS CURRENT MINERAL RESERVES OR RESOURCES.
IDENTIFIED COAL RESOURCES
|
Termal & Coking Coal (Main Indicators) |
Value (Dry Basis) |
|---|---|
|
Gross Calorific Value (BTU/lb)** |
12,100 to 13,600 |
|
Sulfur pct.wt |
Ave. 1.6 |
|
Volatile Matter pct.wt |
34% |
|
Free Swelling Index (FSI) |
< 8.0 |
BULK SAMPLE READY PROJECT
| Coal Mining Concession | Description |
|---|---|
|
Granted by: |
Mining Agency of Colombia |
|
Concession Number: |
FLG-111 |
|
Concession Life: |
45 + years |
|
Area of Concession: |
548 Ha certificated hectares |
|
Licenses Status: |
Ready to start underground bulk sampling:
– Environmental License granted – Approved exploration underground bulk sampling program to development. |
|
Historical Coal Resources: |
Based on: – SRK Consulting NI43-101 – Coking coal: 50% high volatile – Thermal coal: 50% high BTU’s (+12,500 BTU’s) |
|
Infrastructure: |
– Mine site on upgraded gravel road with great access to main highway – Potential buyers’ stockyards 40 kms away which is on main highway to Atlantic ports for export – Water, electricity, phone signal at project site |
The distance between the La Estrella Project site and the Santa Marta port offers two transportation options. The first involves a 9-kilometer off-road route, followed by a 575-kilometer journey on the National Highway, taking approximately 10 hours by truck. An alternative is road travel to the Chiriguaná Train station (350 kilometers, 6 hours), followed by a 220-kilometer train journey to the port. A potential bulk coal buyer seeks FOT (Free on Truck) delivery at the project site.
SIMPLE UNDERGROUND BULK SAMPLE STRATEGY
| Exploration Plan | Description |
|---|---|
|
Approved Bulk Sampling Plan: |
– Development of main portal and Inclined drift cutting all seams – Testeros / Reversed Steps Method for + 40º – Blast & Slusher for – 40º |
|
Initial Underground Bulk Sampling Program Approved: |
15,000 Mt/month (180,000 Mt/year) |
|
Dip Angle: |
24º to +50º Dip |
|
Seams Qty: |
– 8 seams in total with the exploration done to date – 5 major potentially economic seams (all outcropping) |
|
Seams Width: |
1 m to 1.5 m |
PRELIMINARY PROJECT ADVANCEMENTS
Completed – Construction of the powder magazine
Ongoing – Road construction
RECENT DRILL PROGRAMSUPPORTS HISTORICAL WORK
From Jan to May 2023, a 2nd drilling program of 1,200 metres was completed at the site, establishing the continuity and reliability of the deposit and coal sequences.
SOCIAL AND COMMUNITY ENGAGEMENT
Company’s team has been actively engaging with the community and developing early actions to characterize, socialize and to impact the wellbeing of its neighbors.
COMMITMENT TO THE COMMUNITY AND ENVIRONMENT
EDUCATION
In the municipality of Betulia, there are three schools focused on academic development and supported with infrastructure, materials, and communication resources. Additionally, these schools actively seek out training programs to enhance professional development.
WATER
We aim to expand water infrastructure to better serve the community by increasing water availability. Furthermore, our commitment includes full compliance with the management and treatment of water used in our mining operations.
FORESTATION, FLORA AND FAUNA
Our goals include promoting and implementing reforestation efforts in the region and ensuring the preservation of native flora and fauna habitats.
INFRASTRUCTURE
We are committed to ongoing improvement and maintenance of access roads to Betulia, as well as the development of infrastructure that fosters trade and business growth between Betulia and neighboring regions.
COMMUNICATIONS
Our objective is to enhance the capacity and quality of communication infrastructure in the area, providing improved access to cell phone signals and internet connectivity.
SUPPORT OF OTHER ECONOMIC ACTIVITIES
We aim to encourage the establishment of new businesses that contribute to the project’s development and to enhance trade and connectivity between Betulia and other commercial destinations.
CULTURE
We will create spaces and organize events that promote and nurture local culture, strengthen community traditions, and foster unity among residents.
