 | | | March 03, 2008
North American Tungsten Announces First Quarter Cantung Diamond Drilling Results
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| | HIGHLIGHTS:
- Fiscal Q1/2008 definition and exploration drill program at the Cantung Mine has
successfully identified a new high grade mineralized zone ("West Extension").
- West Extension is proximal to existing underground development.
- Selected results include 16.5ft @ 5.72% WO3, 16.9ft @ 4.16% WO3 and 12ft
@3.24% WO3.
- The results from a further 4,579 feet of drilling in 14 holes are pending.
- Additional drilling is planned at an accelerated rate.
North American Tungsten Corporation Ltd (TSX-V: NTC) (the "Company") is pleased to announce that the diamond drilling program of the Q1/2008 definition and exploration drill program significantly increased the understanding of the newly discovered West Extension zone at the Company's 100% owned Cantung Mine in the Northwest Territories, Canada. The diamond drilling program is continuing to identify mineralization at depth, both above and below the lowest level of the mine (3700 level). A recent proposal to drive exploration drifts totaling 2,200 feet along the 3812 and 3700 levels will provide access to conduct 27,000 feet of additional diamond drilling of the zone below the 3700 level, which will increase the knowledge of the shape and size of this new lens.
"Ongoing definition and exploration drilling at Cantung has discovered a new high grade lens proximal to existing underground development and further highlights Cantung potential for defining additional mineralization" said North American Tungsten Chairman and CEO, Stephen Leahy. "This recent exploration drilling by Cantung geology and engineering teams may add significant near term value as we continue to focus on expansion of the existing resource and extension of the Cantung mine life."
Between October and December 2007, 4,017 feet were drilled to further delineate the 3700 level mineralization. Currently the zone remains open to the west and east and drilling is expected to continue in this area during 2008. Assay results are summarized in Table 1, and a sectional compilation for 235+00W is illustrated in Figure 1.
Table 1: In-Fill Definition Diamond Drilling Summary-2008 First Quarter Results.
| Hole ID |
From (ft) |
To (ft) |
Interval (ft) |
Est. True Thickness (ft) |
Grade (WO3%) |
| U1233 |
82.3 |
99.2 |
16.9 |
15 |
4.16 |
| U1234 |
46.1 |
73.8 |
26.5 |
21.7 |
1.10 |
| U1234 |
104.8 |
116.5 |
11.7 |
9.6 |
1.48 |
| U1235 |
194 |
210 |
16 |
9 |
1.78 |
| U1237 |
49.5 |
67.7 |
18.2 |
21 |
1.92 |
| U1240 |
50.5 |
62.8 |
12.3 |
10.3 |
2.53 |
| U1243 |
97.5 |
120 |
22.5 |
21 |
1.30 |
| U1244 |
31.5 |
38.0 |
6.5 |
5 |
2.33 |
| U1244 |
79 |
112 |
33 |
31 |
3.24 |
| Including |
92.5 |
109.0 |
16.5 |
15.0 |
5.72 |
| U1245 |
181.2 |
214.5 |
33.3 |
30 |
1.81 |
| Including |
186.2 |
199.0 |
12.8 |
12.0 |
3.24 |
| U1246 |
72.6 |
89.9 |
17.3 |
16.9 |
2.90 |
| U1248 |
40.9 |
68.5 |
27.8 |
26.8 |
1.67 |
| U1253 |
47.2 |
60.9 |
13.7 |
12.9 |
1.62 |
| U1255 |
89 |
100 |
11 |
7.8 |
1.03 |
A summary of mineralized intersections have been used to delineate the 3700 mineralization. All intersections listed have been previously reported in Dec. 2007 and Jan. 2008 press releases except hole, U1253. The results from an additional 4,579 feet of drilling in 14 holes are pending.
Click to enlarge
From the 3700 level platform, 2,745 feet of down dip exploration drilling has been completed intersecting significant zones of mineralization. Widths and average grades for the mineralization are summarized in Table 2. Compiled data illustrated in Figure 2 shows mineralization in an embayment along the intrusive contact. Holes have been drilled along dip and true thickness is not known. Mineralization has been identified to the 3600 foot level and appears open down plunge.
Table 2: Exploration Diamond Drill Results (Below 3700 Workings).
| Hole ID |
From (ft) |
To (ft) |
Interval (ft) |
Grade (%WO3) |
| U1250 |
254.2 |
343.0 |
88.8 |
3.26 |
| U1281 |
132.7 |
272.7 |
140.0 |
1.46 |
| Including |
132.7 |
148.9 |
16.21 |
1.17 |
| |
185.0 |
207.0 |
22.0 |
1.62 |
| |
220.0 |
272.7 |
57.7 |
2.59 |
Click to enlarge
Quality Assurance
The Company instituted a QA/QC program consistent with best industry practice standards. Elements of the program include chain of custody, as well as standard and blank samples. Samples are assayed at the mine assay laboratory and selected samples are sent to ALS Chemex in Vancouver for duplicate assaying. Results from the QA/QC program have to date been satisfactory.
Quality Person
The technical information contained in this release was compiled in accordance with the Listing Rules of the Toronto Stock Exchange Limited, by a competent person who has consented to the inclusion of such technical information in the form in which it appears in this release. The competent persons are David Tenney, C.Eng., Exploration Manager for North American Tungsten and J. Britt Reid, P. Eng., COO of North American Tungsten. Both Mr. Tenney and Mr. Reid are qualified persons under NI 43-101.
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 both a producing mine and strategic development 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"
Stephen M. Leahy
Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Cautionary Note: The Company relies upon litigation protection for "forward-looking" statements.
INVESTOR CONTACT:
Toni Williamson, Corporate Geologist
info@natungsten.com
Phone: +1.604.684.5300 Fax: +1.604.684.2992 |
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