Mining Explorers 2012: North American Tungsten Corp. Ltd.
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Last updated 11/11/2012 at Noon
NTC: TSX
Chairman and CEO: Stephen M. Leahy,
Chief Financial Officer: Harold Schwenk
Chief Geologist: Finlay Bakker, P. Geo
North American Tungsten Corporation Ltd. focused in 2012 on optimizing production at the CanTung Mine, a longtime producer of tungsten concentrates from underground operations located in the Nahanni area of western Northwest Territories.
Underground and surface diamond drilling is progressing with the objective of adding to minable resources.
Various underground targets have been identified of which the principal is the Amber Zone, which was discovered early in 2012.
Drilling also is proceeding on targets in the PUG Zone.
The company conducted a 4,000-foot underground diamond drill exploration program from existing workings in the Amber Zone on the 3680 level, and about 450 feet east and 200 feet up-dip elevation.
Significant results include 26.4 feet averaging 3.02 percent tungsten oxide (hole U1983) and 34.0 feet averaging 1.29 percent WO3 (U1981).
Higher grade intercepts included 18.4 feet averaging 4.09 percent WO3 (hole U1981), 13.0 feet averaging 2.60 percent WO3 (hole U1983), and 9.9 feet averaging 2.50 percent (hole U1984).
N.A. Tungsten Chairman Stephen Leahy said the results include some of the highest grade intersections encountered outside of the known ore body over the past few years at CanTung and are especially important because of their close proximity to accessible workings at the mine.
"Our focus will be on determining the size of this new zone, and how quickly we can place it into our production cycle," Leahy added.
N.A. Tungsten also secured a class IV mining land use permit from the Government of Yukon that allows continuing exploration and development of its Mactung property.
The permit includes road construction and underground development.
Cash and short-term deposits: C$1.2 million (at June 30, 2012)
Working capital (deficiency): (C$25.4 million) (at June 30, 2012)
Market capitalization: C$48.61 million (at Oct. 5, 2012)
1640 - 1188 West Georgia St.
Vancouver, B.C. Canada V6E 4A2
Tel: 604-684-5300 Fax: 604-684-2992
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