Northcliff Resources (TSX:NCF) provided an update on its Sisson critical minerals project about 100 km northwest of Fredericton, N.B., as it advances the Phase 1 field program. This phase includes geotechnical drilling, particularly where the tailings storage facility is planned. It will also include related engineering activities, responding to certain environmental impact assessment (EIA) conditions, and completing the archeological work program.
The start of construction at Sisson has been pushed forward to Dec. 3, 2025, as discussions with First Nations and other conditions continue.
“I would like to thank the local contractors for their assistance, as we continue to advance the Sisson project toward construction,” said CEO Andrew Ing. “Planning for field work in 2024 is underway. We will continue to work collaboratively with the regulators in New Brunswick and First Nations as we address EIA conditions."
Northcliff participated in the International Tungsten Industry and Association held in Japan in October. Ing reported that the company held discussions with companies/individuals interested in project offtake and finance.
A second phase is planned during which the feasibility study will be updated, offtake agreements signed, and financing arranged. This will be followed by a final investment decision, permit applications, and construction.
The Sisson tungsten-molybdenum deposit was discovered by Kidd Creek Mines in 1978. The mineralization occurs in narrow, sheeted, northwest-trending quartz-sulphide veins surrounded by larger north-trending shear veins. Geodex acquired the project in 2004, and Northcliff obtained a 70% interest in 2010, picking up the remaining 30% in 2012. Subsequently, Northcliff optioned an 11.5% interest to Todd Corp., which invested about $14 million into the project by 2014.
A feasibility study for the project was released in January 2013, followed by environmental approval by the province (2015) and federal government (2017).
The feasibility study listed the proven and probable reserves at Sisson to be 334.4 million tonnes grading 0.066% tungsten trioxide (WO3) and 0.21% molybdenum, containing 22.2 million tonnes of WO3 and 154.8 million lb. of moly.
The study outlined conventional truck-and-shovel open pit mining at a rate of 30,000 t/d. Mineral processing will involve crushing, grinding and flotation to create a tungsten concentrate and a molybdenum concentrate. The tungsten-bearing concentrate will be treated in an alkali pressure leach to create ammonium paratungstate.
Learn more at www.NorthcliffResources.com.
December 19, 2024
December 19, 2024
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