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Market: TSX-V
Sector: General Mining
Epic: NTC
News: Latest news
Web Site: North American Tungsten
Other Articles: 16-11-200923-10-200927-07-2009

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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North American Tungsten

North American Tungsten

North American Tungsten Corporation Ltd. is the Western World's largest producer of tungsten concentrate, a strategic industrial metal required in a wide variety of products ranging from jet turbine engines and high-speed cutting tools to electronic circuitry and surgical instruments.

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Monday, February 23, 2009

North American Tungsten's shares jump on MacTung Project feasibility results

by Proactiveinvestors company news image

North American Tungsten (TSX-V:NTC) jumped 20% in early trading after the company released highlights from a bankable feasibility study on the company’s 100% owned MacTung Tungsten project in the Yukon.

MacTung is one of the world's largest known undeveloped high grade tungsten-skarn deposits, with an underground indicated mineral reserve of 8.2 million tonnes grading 1.09% WO3, an indicated resource of 33 million tonnes grading 0.88% WO3, and a inferred resource of 11.8 million tonnes grading 0.78% WO3.

The study, completed by Wardrop Engineering, considered a 2,000 tonnes per day underground mine with an initial mine life of eleven years. The underground mine will feed a surface facility that would produce both a premium gravity concentrate (67% W03) and a flotation concentrate (55% WO3).  Recoveries are expected to be 81.7%.

In the first five years, the mine would produce approximately 752,000 metric tonne units (MTU’s) of Tungsten Trioxide (WO3) per annum at an operating cost of C$104/MTU.  

The estimated capital cost for the project is C$402.1 million, including a C$45.6 million contingency budget, with a capital pack back of just 2.9 years based on a US$300/MTU WO3.  

Wardrop stated that the pre-tax net present value of the MacTung project is C$277 million using an 8% discount rate, but this is only based on the 11 year mine life.  North American Tungsten added that the project could be extended by a further 17 years if it decides to exploit the lower grade near surface tungsten via an open pit.
 
The Company is projecting that construction will start in the second quarter of 2010 and require 27 months to complete.


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