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Core and channel drilling on a 2000-acre property in Knox and Bell counties will take place over the next 90 days in search of the sought-after Blue Gem coal that is unique to the Kentucky and Northeast region.
If drilling yields positive results, it could send New Century to the center of the reserve region and atop market holdings.
“Over the past 36 months, New Century Coal has positioned itself to become a leader in Blue Gem coal reserves,” president Dallas McRae said.
Appalachian-focused New Century was established in 2006 and holds properties in Kentucky, West Virginia, Virginia and Tennessee. It exports to Korea, Poland, China among others.
With more than 10 million tons of Blue Gem reserves already in place, the miner is one of the largest of its reserve holders.
Blue Gem coal is primarily used in the silicate and semi-conductor manufacturing industry.
