VANCOUVER, Nov. 3, 2011 /CNW/ - Northcliff Resources Ltd. ("Northcliff"
or the "Company") (TSXV: NCF) announces that feasibility work at the
Sisson Tungsten-Molybdenum Project in central New Brunswick, Canada is
progressing well and remains on schedule to meet key milestone dates in
2012. During the summer, Northcliff and its consultants completed an
extensive field program in support of the development of a Feasibility
Study and Environmental Impact Assessment (EIA) report for the Sisson
"We've been very pleased with the progress of our technical programs, as
well as the Company's efforts to engage with federal and provincial
government officials, regulatory agencies, communities and project
stakeholders in New Brunswick, as well as local First Nations," said
Northcliff President & CEO Chris Zahovskis. "We have established an
experienced project and consultant team in New Brunswick, and are well
launched on our program to deliver a Feasibility Study and initiate
final project permitting in the latter part of 2012."
Approximately 8,500 m of diamond drilling at various core sizes was
completed at the Sisson Project in 2011 to provide a 35 tonne sample
for metallurgical testing, as well as data for geotechnical and
hydrogeological assessments. Additionally, some 400 test pits have been
excavated for further geotechnical and condemnation assessments. Data
collected from these programs will provide key inputs to engineering
and project design for the Sisson Project Feasibility Study.
Recently, Northcliff engaged SGS Lakefield of Ontario to conduct the
metallurgical test program for the Feasibility Study, with an
anticipated start date in November 2011. The Company has also engaged
Samuel Engineering ("Samuel") of Denver, CO to act as lead consultant
for the Sisson Project Feasibility Study. Samuel will coordinate
completion of the study with input from other engineering companies
already engaged on the project.
In parallel with the drilling program, an extensive multi-disciplinary
environmental field program was conducted at Sisson in 2011 to
facilitate environmental input into the project design and completion
of the Sisson Project Environmental Impact Assessment. The
environmental baseline monitoring program will continue throughout the
feasibility and permitting phases of the project.
Draft Terms of Reference for the joint federal/provincial EIA for the
Sisson Project were released in mid-August 2011 and subjected to a
45-day public comment period. During this time, Northcliff hosted three
public open houses in communities close to the project site (Juniper,
Millville and Stanley). Draft responses to public comments received on
the draft EIA Terms of Reference have now been compiled, and the
process of finalizing the Terms of Reference with the federal and
provincial governments is underway. It is anticipated that final Terms
of Reference to guide the Environmental Impact Assessment for the
Sisson Project will be issued in late November 2011.
Public, stakeholder and First Nations engagement continues to be a
central focus of the Company's activities in New Brunswick. Northcliff
has initiated discussions with local communities, key interest groups
and individuals, the provincial and federal governments, as well as New
Brunswick First Nations, in order to identify and address environmental
and social concerns. Northcliff recognizes the importance of First
Nations' involvement in the Sisson Project and is seeking positive and
mutually beneficial relationships with key First Nations and aboriginal
"I'm pleased to report that all aspects of the Feasibility Study and the
Environmental Impact Assessment for the Sisson Project are on schedule
for completion by the third quarter of 2012," confirmed Zahovskis. "We
are pleased with the progress of our technical work, our field programs
and our stakeholder and First Nations outreach, as well as the ongoing
positive conditions in the global tungsten market."
Largely as a result of Chinese supply and export quotas, tungsten prices
have remained robust in recent months despite considerable overall
commodity price uncertainty. While tungsten prices have remained
relatively flat, ranging between $450 to $470/mtu (metric tonne unit),
other globally traded metal commodities have generally declined amidst
"Tungsten prices since 2005 have appreciated nearly 400%, outperforming
even precious metals such as gold and silver over the same period,"
Zahovskis said. "In addition, the outlook for tungsten demand remains
strong. When considered in light of the limited new production that is
currently forecast to come on line, we believe the Sisson Project will
become a significant new producer of tungsten for the North American
and European markets."
Northcliff is a mineral resource company based in Vancouver, Canada and
associated with Hunter Dickinson Inc. (HDI). Its primary focus is
advancing the feasibility-stage Sisson Tungsten-Molybdenum Project
located in central New Brunswick, Canada to production. Northcliff has
acquired a 70% interest in the Sisson Project from Geodex Minerals
Ltd., subject to investing up to $17 million in exploration,
feasibility and project costs.
HDI is a diversified global mining group with a 25-year history of
mineral development success. From its head office in Vancouver, Canada,
HDI applies its unique strengths and capabilities to acquire, develop,
operate and monetize mineral properties that provide consistently
superior returns to shareholders
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provide (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address permitting,
exploration drilling, exploitation activities and events or
developments that the company expects, are forward-looking statements.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results
or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market
prices, exploitation and exploration successes, continuity of
mineralization, potential environmental issues and liabilities
associated with exploration, development and mining activities,
uncertainties related to the ability to obtain necessary permits,
licenses and title and delays due to third party opposition, changes in
government policies regarding mining and natural resource exploration
and exploitation, continued availability of capital and financing, and
general economic, market or business conditions. Investors are
cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially
from those projected in the forward-looking statements. For more
information on the Company, investors should review the Company's
continuous disclosure filings that are available at www.sedar.com.
SOURCE Northcliff Resources Ltd.
For further information:
For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.