North American Tungsten Corporation Ltd.: Amber Zone Update
07.06.2012 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - June 6, 2012) - North American Tungsten Corporation Ltd. (TSX VENTURE:NTC) ("NTC" or "the Company") is pleased to provide an update on its continuing underground diamond drill exploration program in the Amber Zone on its 100% owned Cantung tungsten mine in the Northwest Territories.Seven holes were fan drilled from the same setup on 3680 level, as follow-up on holes: U1943, U1936, and U1937, discussed in the NTC February 6th, 2012 news release and identified as the Amber Zone. These seven new holes were drilled approximately 450ft east and 200ft up dip elevation from the three drill holes. The Amber Zone was discovered early in 2012 by follow-up drilling of the historic drill hole, U719, which had intercepted 36ft averaging 1.36% WO3.
Significant results, from the seven holes, include 26.4ft averaging 3.02 % WO3 (hole U1983) and 34.0ft averaging 1.29 % WO3 (U1981). Higher grade intercepts included 18.4ft averaging 4.09 %WO3 (hole U1981), 13.0ft averaging 2.60 % WO3 (hole U1983), and 9.9ft averaging 2.50% (hole U1984). Results from the seven holes are summarized in the table below:
Estimated
True
Interval Thickness
Drill hole From To (ft) (ft) WO3%
U1978 47.0 56.6 9.6 7.6 1.00
65.0 75.5 10.5 8.5 0.62
81.3 93.1 11.8 9.6 0.31
169.4 193.1 23.7 11.8 0.70
U1979 43.0 49.0 6.0 4.2 0.27
57.1 70.0 12.9 10.0 0.41
103.0 125.0 22.0 17.0 0.42
U1980 19.1 23.0 3.9 3.8 1.09
41.0 53.9 12.9 12.3 1.15
81.0 97.5 16.5 15.8 1.04
U1981 17.8 51.8 34.8 32.2 1.29
81.1 96 14.9 14.0 0.86
Including 23.2 36.2 13.0 12.1 2.60
U1983 30.1 56.5 26.4 25.1 3.02
80.0 100.0 20.0 19.0 0.53
Including 33.6 52.0 18.4 17.5 4.09
U1984 41.3 51.1 9.8 7.9 0.39
55 78.9 23.9 20.4 1.32
110.0 140.0 30.0 26.0 0.31
Including 69 78.9 9.9 8.4 2.50
U1985 40 50 10 7.1 0.65
70 75 5.0 3.5 0.36
84.0 86.5 2.5 1.9 0.66
165.0 185 20 14.2 0.74
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 resource. Additional drill sections are currently being tested from 3680 Level.
The discovery of the Amber Zone is a result of an ongoing program of computerized modeling and review of over 50 years of accumulated data for the Cantung mine.
To view Figures 1, 2 and 3, click on the following link:
http://media3.marketwire.com/docs/na66m2.pdf
Mr. Stephen Leahy, Chairman of North American Tungsten stated, "We are very pleased with the continuing success of our underground drilling program in and around the Amber Zone. The use of computer modeling of historical drill hole data has been an excellent tool for our geologists to identify new underground exploration targets."
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 has been prepared under the supervision of Finlay Bakker, P. Geo, Chief Geologist for the Cantung Mine for the Companay. Mr. Bakker is a qualified person under the terms of National Instrument 43-101 of the Canadian Securities Administrators.
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, equipment 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.
Contact Information
North American Tungsten Corporation Ltd.
Investor Contact
+1.604.684.5300
+1.604.684.2992 (FAX)
info@natungsten.com
www.natungsten.com