KWG Resources Inc. Files for Aggregate Permits
28.08.2012 | Marketwire
TORONTO, ONTARIO -- (Marketwire - Aug. 28, 2012) - The KWG Resources Inc. (TSX VENTURE:KWG) ("KWG") subsidiary Canada Chrome Corporation has filed applications with the Ministry of Natural Resources (MNR) for thirty-two aggregate permits at sites that are located within the mineral claims covering the company's 308 kilometre-long railroad right-of-way. The sites were identified and investigated by Golder Associates during initial assessment work conducted for engineering feasibility studies as previously reported. The sites are located along the proposed route for KWG's railway to the Ring of Fire region, and may provide material for the construction of the planned railbed. An environmental assessment and consultation with affected parties have not yet been concluded."In our meetings with Matawa First Nations Management Inc. officers and the Canadian Environmental Assessment Agency to review our draft Project Description, we have indicated our preference that the consultation requirements and protocols be developed in their entirety by the affected First Nations, to ensure the adequacy of the process," said KWG President Frank Smeenk. "To make that exercise meaningful, we felt that the physical consequences of the development should be described as fully as possible within the regulatory framework. For that reason we have prepared and filed preliminary aggregate borrowing plans to enable a relatively more informed determination of consultation requirements."
Canada Chrome Corporation has also made application to MNR under the provisions of the Public Lands Act, for the grant of title to the lands it has tentatively designated as the "Port of Koper Lake" at the northern terminus of its right-of-way. The application covers two 16-unit claim blocks which include the western shore of Koper Lake where temporary float-plane docking facilities are now in use. As included in the draft Project Description, preliminary plans envisage the development of a permanent amphibious aerodrome at that location together with an adjacent and permanent East-West all-weather runway and heliport terminal as an adjunct to a railroad terminal, fuel storage compound, communications hub, accommodation services, and repair and maintenance facilities.
About KWG:
KWG has a 30% interest in the Big Daddy deposit. 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 where the Trans Canada line of the Canadian National Railway can be connected.
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No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The foregoing information contains forward-looking statements relating to the future performance of KWG Resources Inc., including statements concerning applications for aggregate permits, the application respecting the grant of the Port of Koper Lake lands and the building of the railway. Forward-looking statements, specifically those concerning future performance, are subject to many risks and uncertainties, and actual results may differ materially from KWG Resources Inc. plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by KWG Resources with the TSX Venture Exchange and securities regulators. KWG Resources does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Contact
KWG Resources Inc.
Bruce Hodgman, Vice-President
416-642-3575
info@kwgresources.com
www.kwgresources.com