North American Tungsten Intersects High Tungsten Grades at Cantung Mine; Confirms Mineralization to the East of the Known 'Below 3700 Level' Ore Body
07.02.2012 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/06/12 -- North American Tungsten (TSX VENTURE: NTC) ('NTC' or 'the Company') is pleased to announce results from its continuing underground diamond drill exploration program on its 100% owned Cantung tungsten mine in the Northwest Territories.Summary of Results:
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Est. True
From To Interval Thickness
Hole ID (ft) (ft) (ft) (ft) WO3 %
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U1936 262.7 304.3 41.6 32 2.57
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U1937 269.1 294.4 25.3 21 3.16
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U1943 257.2 265.6 8.4 8 4.35
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The current drill programme is focused on the outer edge of the defined deposit. The new area termed the 'Amber zone' is located near the 'below 3700 level' of the West Extension and the Central Flats areas and is outside the currently defined deposit.
Figure 1 shows the relative location of the 'Amber zone' on the edge of the known deposit (the currently known ore body is in red). Immediate follow up drilling is planned because of the high grades of the intersections and their relatively close proximity to existing infrastructure. Figure 2 shows the current projection of the zone by the site geologists and will be the focus of the next phase of drilling as soon as drill sites can be accessed.
To view Figure 1 and Figure 2 click on: http://media3.marketwire.com
The detailed assay intercepts are presented in the table below:
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Estimated
True
DDH From DDH To Length Thickness
Hole ID (ft) (ft) (ft) (ft) %WO3
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U1936 262.7 267.0 4.3 3.3 3.02
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267.0 270.7 3.7 2.8 5.96
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270.7 272.0 1.3 1.0 0.55
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272.0 273.5 1.5 1.2 1.41
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273.5 276.0 2.5 1.9 0.94
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276.0 279.6 3.6 2.8 2.55
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279.6 283.7 4.1 3.2 1.14
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283.7 285.6 1.9 1.5 6.43
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285.6 288.0 2.4 1.8 0.19
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288.0 290.1 2.1 1.6 4.81
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290.1 294.3 4.2 3.2 4.18
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294.3 296.2 1.9 1.5 2.17
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296.2 298.0 1.8 1.4 0.07
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298.0 300.2 2.2 1.7 2.44
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300.2 304.3 4.1 3.2 0.70
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U1937 269.1 271.2 2.1 1.7 0.47
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271.2 274.1 2.9 2.4 1.86
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274.1 276.6 2.5 2.1 1.20
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276.6 277.9 1.3 1.1 0.38
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277.9 280.7 2.8 2.3 7.34
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280.7 284.1 3.4 2.8 7.58
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284.1 285.5 1.4 1.2 2.23
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285.5 288.2 2.7 2.2 5.65
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288.2 290.8 2.6 2.2 0.42
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290.8 294.4 3.6 3.0 1.16
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U1943 257.2 258.6 1.4 1.3 0.44
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258.6 261.9 3.3 3.1 6.01
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261.9 264.0 2.1 2.0 6.09
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264.0 265.6 1.6 1.5 2.04
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Mr. Stephen Leahy, Chairman of North American Tungsten, stated, 'These are some of the highest grade intersections we have encountered outside of the known ore body over the past few years with the added importance of the 'Amber zone's' close proximity to accessible workings. Our focus will be on determining the size of this new zone and how quickly we can place it into our production cycle. I would also like to state my appreciation for all the hard work and extra effort by all of our site personnel, who as a part of 'Tungsten Team', are creating the opportunities that we will build on for our future growth.'
The Company further announces diamond drilling has commenced on a 4000 ft program from existing workings to better delineate the 'Amber zone'.
Quality Assurance
Sample analysis were completed at the laboratory located at the Cantung Mine site utilizing both XRF and colorimetric methods. Results for both methods were comparable. Check assays will be done by ALS Chemex Labs in Vancouver. Previous comparisons have been acceptable and reliable.
Qualified Person
The technical information contained in this release was compiled in accordance with the Listing Rules of the Toronto Stock Exchange Limited, by a competent person who has consented to the inclusion of such technical information in the form in which it appears in this release. The competent person is Finley Bakker, P.Geo., Chief Geologist for Cantung for North American Tungsten. Mr. Bakker is a qualified person under NI 43-101.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen M. Leahy
Chairman & CEO
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, equipments 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.
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.
Contacts:
North American Tungsten Corporation Ltd.
Investor Contact
+1.604.684.5300
+1.604.684.2992 (FAX)
info@natungsten.com
www.natungsten.com