VANCOUVER, BRITISH COLUMBIA--(Marketwire - Mar 1, 2013) - 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. Drifting toward this zone has commenced.
Stephen Leahy, CEO, stated: "We believe that this new Amber Zone will become an important integral component of our underground Life of Mine Plan at Cantung. We are very proud of the hard work and dedication of our Tungsten Team in the discovery and the definition drilling in the new Amber Zone."
Diamond Drilling was implemented to fill 450 ft. gap between high grade intercepts in drill holes U1943, U1936, and U1937, discussed in the NTC February 6th, 2012 news release, and holes U1978 to U1985, discussed in the NTC June 6th, 2012 news release. A total of 87 Diamond Drill Holes amounting to 25,000 ft. of drilling were completed. Many of the holes intersected one to three zones of mineralization. This recent phase of drilling verifies the continuity of the mineralization within the Amber Zone and the Central Flats over an area with an approximate strike length of 600 ft. and an approximate down dip length of 650 ft. In addition it opens up 800 ft. of strike length of potential mineralization to the east. Drilling is now commencing in the area of "Amber Zone East" to test the continuity of two areas. Drifting toward the Amber Zone West has commenced from 4 headings within the current mine workings.
Significant results from the drill program include 15 ft. averaging 4.27% WO3 (DDH - U2082), 22.7 ft. averaging 4.30% WO3 (DDH - US2083), 10.3 ft. averaging 3.60% WO3 (DDH - U2114) and 15.4 ft. averaging 2.44% WO3 (DDH - U2081). The table shown below provides the tungsten containing intervals and the estimated true widths for those intersections.
All drilling was completed from underground drill stations. All drill core was BQ and core recovery in the assay intervals was close to 100%. Sampling was based on lithology with a maximum individual sampled interval of 5 feet. The averaged assays shown in the table have a minimum bounding grade of 0.25% WO3.
Results from the 87 holes are summarized in the table below:
Summary of Results:
|Hole ID||From (ft.)||To (ft.)||Interval (ft.)||Est. True Thickness (ft.)||WO3%|
To view the maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/ntc-0301-maps.pdf
Sample analysis was completed at the laboratory located at the Cantung Mine site utilizing both XRF and colorimetric methods. Results for both methods were comparable. Check assays were done by ALS Canada Ltd. in Vancouver. Comparisons were acceptable and reliable.
The technical information contained in this release has been reviewed and approved by Finley Bakker, P. Geo, Superintendent of Technical Services for the Cantung Mine for the Company, who is a qualified person as defined in 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.