World Mining Exploration News

Companies Kinetex Resources announced that a branch in South America have been completed to the agreement with the company MPX Energia SA, a subsidiary of the EBX Group of Companies, to provide satellite images of seismic exploration. MPX has headquarters in Rio de Janeiro, Brazil, and has offices in Colombia and Chile.

With a contract value of USD $ 6 million, will conduct exploration MPX from La guajira and mining permits in Colombia, South America, which will be done in the near future. This contract will continue some stage during the three years with a minimum exploration commitment of $ 2 million in the first year, and be able to expand the scope and size. Services will initially consist of program management, collection, processing and interpretation of a series of high-resolution image 2D seismic profiles. After the first step is completed, Kinetex will provide analysis of the results of the survey and the development of further exploration and development plans.

One of the objectives of the contract is to provide high-resolution image mapping of structural and stratigraphic features below the surface, to reflect the actual number of coal, thickness and direction, and to identify possible errors or lithology hazards in preparation for the long-wall open-cut mine, or stone ember of planning and development.

MPX has the rights of the mining area consists of 78,000 hectares located in two areas of production of thermal coal Colombia – Cesar and La guajira. With coal in this area, which has proven geological resources estimated at more than 150 million tons, is recognized for outstanding quality and high value-low calorific value of the percentage of sulfur and ash.

“We are very proud to work with the MPX in this project,” said Gil Schneider, CEO Kinetex. “This is a stated goal to promote MPX properties to mineral resources and certification as a rapid growth phase may be. The application of multi-component seismic data, and validated by related MPX’s aggressive drill program, will place the basis for cost effective and timely program exploration geology and provide a model that will form the basis for decisions made with confidence by MPX of Geologists and mining engineers”.