Mactung Project Receives Positive Final Screening Report
17 März 2014 - 11:00PM
Marketwired
Mactung Project Receives Positive Final Screening Report
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 17, 2014) -
North American Tungsten Corporation Ltd. (TSX-VENTURE:NTC) ("NTC"
or "the Company") is pleased to announce that its MacMillan Pass
Tungsten Property in Yukon ("Mactung") has successfully completed
environmental screening. Following a thorough, years-long review,
the Yukon Environmental and Socio-economic Assessment Board
("YESAB") issued its Final Screening Report, recommending that the
"Mactung Mine Project be allowed to proceed without [further]
review."
NTC is already one of the world's largest tungsten producers
outside China. NTC's 100%-owned Mactung property, when developed,
is anticipated to be a major factor in world tungsten supply for
many years.
Kurt Heikkila, NTC's chairman and chief executive officer,
stated, "Approval by YESAB represents an important milestone in our
efforts to bring the Mactung Project into production."
Mr. Heikkila added, "This unique mineral property will be
developed in due course in an environmentally sensitive way with
extraction and milling processes that will minimize the mine's
footprint on the surrounding lands. As YESAB recognized, NTC is
committed to responsible stewardship of the property. Mactung is
located on lands that have been used traditionally by First Nations
including the Kaska Dena and the First Nation of Nacho Nyak Dun.
Through their participation in public hearings and face-to-face
meetings, the Kaska Dena, their traditional knowledge team from the
Ross River Dena Council, and the Ross River elders have enabled us
to better appreciate what responsible land stewardship means to
traditional communities. We will continue to work with them and
learn from them and their communities."
According to the Yukon Environmental and Socio-economic
Assessment Act, the final step in the environmental assessment
process will be the release within 60 days of a Decision Document
by the territorial and federal governments. Like the Final
Screening Report, the Decision Document will contain conditions
governing operations at Mactung and a list of proponent
commitments.
On behalf of the Board of Directors
Kurt Heikkila, Chairman & CEO
About North American Tungsten Corporation Ltd.
The Company is a publicly listed Tier 1 Junior Resource Company
engaged primarily in the operation, development, and acquisition of
tungsten and other related mineral properties in Canada. The
Company's 100% owned Cantung mine and Mactung development project
make it one of the few tungsten producers with a strategic asset in
the western world. Mactung is one of the world's largest known
undeveloped high grade tungsten-skarn deposits.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term as defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Cautionary Note: The Company relies upon litigation
protection for "forward-looking" statements.
Safe Harbour Statement under the United States Private
Securities Litigation Reform Act of 1995 and similar Canadian
legislation: Except for the statements of historical fact
contained herein, the information presented contains
"Forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and similar Canadian
legislation. Often, but not always, forward-looking statements can
be identified by the use of words such as "plans", "expects,"
"budget," "scheduled," "estimates," "forecasts," "intends,"
"anticipates," "believes," or variation of such words and phrases
that refer to certain actions, events or results to be taken, and
other factors which may cause the actual results, performance or
achievements of North American Tungsten Corporation Ltd. To be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the actual results
of reclamation activities, the estimation or realization of mineral
reserves and resources, the timing and amount of estimated future
production, costs of production, capital expenditures, future
prices of commodities, possible variations in ore grade or recovery
rates, efficacy and efficiency of milling process, failure of
plant, equipment or processes to operate as anticipated, accidents,
labour disputes and other risks in the mining industry. Although
North American Tungsten Corporation Ltd. has attempted to identify
important factors that could cause actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements contained
herein and in North American Tungsten Corporation Ltd.'s other
filing incorporated by reference.
Cautionary Note to United States Investors Concerning
Estimates of Measured, Indicated and Inferred Resources:
This press release may use the terms "measured," "indicated"
and "inferred" Resources. United States investors are advised that
while such terms are recognized and required by Canadian
regulators, the United States Securities and Exchange Commission
does not recognize them. "Inferred Mineral Resources" have a great
amount of uncertainty as to their existence and as to their
economic and legal feasibility. It cannot be assumed that all or
any part of an Inferred Mineral Resource will ever be upgraded to a
higher category. Under Canadian rules, estimates of Inferred
Mineral Resources may not form the basis of feasibility or other
economic studies. United States investors are cautioned not to
assume that all or any part of Measured or Indicated Mineral
Resources will ever be converted into Mineral Reserves. United
States investors are also cautioned not to assume that all or any
part of an Inferred Mineral Resource exists, or is economically or
legally mineable.
North American Tungsten Corporation
Ltd.+1.604.684.5300+1.604.684.2992info@natungsten.com
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