North American Tungsten
North American Tungsten 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 both a producing mine and strategic development asset in the western world.
North American Tungsten appoints Kurt Heikkila to board
Canada based North American Tungsten Corp (TSX-V: NTC) announced the appointment of Kurt Heikkila to the Board of Directors. Heikkila is currently one of the three Governors of Tungsten Diversified Industries, and is also President of Wild River Consulting, and the founder and President of the Tundra Group of Companies.
Heikkila’s Tundra Group of Companies is dedicated to the development of new composites for lead replacement most of which utilize Tungsten as the primary material. Mr. Heikkila has personally received 42 patents, the majority of which relate to new composite materials.
North American Tungsten is one of the few tungsten producers with both a producing mine and strategic development asset in the western world. The company owns the Cantung Tungsten Mine and Mactung Tungsten development project.
In February 2009 North American Tungsten released the results of a Bankable Feasibility Study (‘BFS’) for Mactung. The BFS 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.
MacTung has an underground indicated mineral reserve of 8.2 million tonnes grading 1.09% tungsten trioxide (WO3), an indicated resource of 33 million tonnes grading 0.88% WO3, and an inferred resource of 11.8 million tonnes grading 0.78% WO3.
Other North American Tungsten articles
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09/04/09 Stephen Leahy, Chairman & CEO of North American Tungsten talks to Proactiveinvestors
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12/03/09 North American Tungsten jumps after reporting High Grade Mineralization at Cantung Mine
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23/02/09 North American Tungsten's shares jump on MacTung Project feasibility results
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20/01/09 North American Tungsten in strategic deals to become vertically integrated producer
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13/11/08 North American Tungsten – Signs Strategic Supply Agreement with Global Tungsten & Powders Corp
Other North American Tungsten news
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23/10/09 North American Tungsten a step closer to developing MacTung project in Yukon
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27/07/09 North American Tungsten raises C$6 mln in private placement, renews credit facilities
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08/07/09 North American Tungsten sells remaining Jennings property interest to Agnico
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29/06/09 North American Tungsten to put CanTung mine on care and maintenance in Oct 2009
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