KWG Resources Inc. (TSX VENTURE:KWG) ("KWG") has today filed an updated
geological report and calculation of the resources inferred from drilling data
recovered to date from the Black Horse chromite deposit. The technical report,
entitled "National Instrument 43-101 Technical Report, Koper Lake Project
Chromite Deposit, McFaulds Lake Area, Ontario, Canada, Porcupine Mining
Division, NTS 43D16, Updated Mineral Resource Estimation Technical Report, UTM:
Zone 16, 548460m E, 5842511m N, NAD 83", is dated May 28, 2014 (the "Koper Lake
Report") and was authored by Alan Aubut, P. Geo., under the provisions of
National Instrument 43-101. The resources inferred in the Koper Lake Report were
additionally informed by three drill intercepts generated during the winter 2014
drilling campaign and by the intercept in hole FNCB-13-031 which was not used in
the 2013 calculation due to it being located 50 metres west of the western claim
boundary on the adjoining claim of Noront Resources Inc.


The inferred resources contained in the Koper Lake Report supersede those
reported in KWG's press release dated May 13, 2014. The Koper Lake Technical
Report can be found on KWG's SEDAR profile at www.sedar.com.


The Koper Lake Report provides in part:

Using the drill hole data available as of May 11, 2014, including new drilling
done in early 2014, an Ordinary Kriged block model was created for the Koper
Lake Project chromite deposit. The volume modelled is 0.6 km long and has a down
dip extent of approximately 1.0 km with the top of the mineral zone as high as
350 metres below surface and has been traced down to a depth of approximately
1400 metres below surface. All of the resources present have a low confidence in
the estimate such that they can be classified only as Inferred Resources. The
following table provides the identified Inferred Resources using a cut-off of
20% Cr2O3.




----------------------------------------------------------------------------
Classification                         Tonnes (millions)             % Cr2O3
----------------------------------------------------------------------------
Inferred Resources                                  77.2                35.1
----------------------------------------------------------------------------

1.  CIM Definition Standards were followed for classification of Mineral
    Resources. 
2.  The Mineral Resource estimate uses drill hole data available as of May
    11, 2014. 
3.  The cut-off of 20% Cr2O3 is the same cut-off used for the Kemi deposit
    as reported by Alapieti et al. (1989) and for the nearby Big Daddy
    chromite deposit (Aubut, 2012). 
4.  Mineral Resources are not Mineral Reserves and do not have demonstrated
    economic viability.



Using this 20% cut-off, there are 77.2 million tonnes at a grade of 35.1% Cr2O3
of Inferred Resources. Due to the uncertainly in the estimate and that no
mineability and dilution studies have been applied to these resources, they may
not all be economically recoverable.


The drill hole spacing is 100 to 300 metres with several off-azimuth holes. To
date, only 8 holes have tested the mineral zone on the property and most of
these intersections are very steep and cut the zone at a very oblique angle. As
a result there is poor confidence in the lateral continuity of the
mineralization to a degree that all of the defined resources can be classified
only as Inferred Resources at this time.


The deposit remains open on strike to the northeast and at depth. The increase
in the size of the inferred resource is the result of thickening of the deposit
with depth. The true width of the deposit ranges from approximately 100 metres
at the southwestern end to about 25 metres in the northeastern half. The
southwestern half of the deposit is dominantly layered chromitites while the
northeastern half is dominantly massive chromitite. It is recommended that
initially, further drilling be done to better define the limits and continuity
of the mineralisation in the northeastern half, and secondly by infill drilling.
The estimated cost of the initial program is $3.63 million.


M.J. (Moe) Lavigne, P.Geo., is the Qualified Person (QP) with respect to this
project and has reviewed and approved the related information within this press
release. Alan Aubut, P.Geo., author of the Koper Lake Report, has reviewed and
approved the related information within this press release. 


About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the
right to earn 80% of the Black Horse chromite where resources are being defined.
KWG has also acquired interests in provisional patents including a method for
the direct reduction of chromite to metalized iron and chrome using natural gas.
KWG also owns 100% of Canada Chrome Corporation which has staked claims and
conducted a $15 million surveying and soil testing program for the engineering
and construction of a railroad to the Ring of Fire from Exton, Ontario.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


Cautionary Note Regarding Forward-Looking Statements: This Press Release
contains or refers to "forward-looking information" within the meaning of
applicable Canadian securities legislation. Generally, forward-looking
information can be identified by the use of forward-looking terminology such as
"plans", "expects", "is expected", "budget", "estimates", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or statements that certain actions, events or results "may",
"could", "would", "might", "occur" or "be achieved". All information, other than
information regarding historical fact that addresses activities, events or
developments that KWG believes, expects or anticipates will or may occur in the
future is forward-looking information. Forward-looking information contained in
this Press Release is subject to a number of risks and uncertainties that may
cause the actual results of KWG to differ materially from those discussed in the
forward-looking information, and even if such actual results are realized or
substantially realized, there can be no assurance that they will have the
expected consequences to, or effects on, KWG. Should one or more of these risks
and uncertainties, such as: the actual results of current exploration programs;
risks normally incidental to exploration and development of mineral properties;
the uncertainty of mineral resources estimates; uncertainties in the
interpretation of drill results; the possibility that future exploration,
development or mining results will not be consistent with expectations; the
grade and recovery of ore varying from estimates; the general risks associated
with the mining industry; adverse changes in commodity prices; currency and
interest rate fluctuations; increased competition and general economic and
market factors occur, or should assumptions underlying the forward-looking
statements prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, or expected. We do not
intend and do not assume any obligation to update these forward- looking
statements, except as required by law. Shareholders are cautioned not to put
undue reliance on such forward-looking statements. 


Shares issued and outstanding: 777,512,273

FOR FURTHER INFORMATION PLEASE CONTACT: 
KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575 Ext 103
info@kwgresources.com

(TSXV:KWG)
Historical Stock Chart
Von Mai 2024 bis Jun 2024 Click Here for more  Charts.
(TSXV:KWG)
Historical Stock Chart
Von Jun 2023 bis Jun 2024 Click Here for more  Charts.