VANCOUVER, BC, Nov. 22, 2023 /CNW/ - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to provide an update on the Sisson Tungsten-Molybdenum Project ("Sisson Project" or "Sisson"), a critical minerals project located in New Brunswick.
In 2023, the Company advanced its Sisson Project Work Plan.
Geotechnical drilling and testing field program ("Phase 1 Drilling Program"):
The Phase 1 Drilling program, designed to provide information on the site characterization and support additional design detail of the Tailings Storage Facility is completed.
The Phase 1 Drilling Program will also support other ongoing engineering related activities and respond to certain provincial Environmental Impact Assessment ("EIA") conditions prior to the start of construction.
Archeological work program ("Phase 1 Field Program"):
The Phase 1 Field program underway involves mitigation activities in compliance of EIA conditions, and the development of a Heritage Resource Protocol and related activities.
Discussions regarding an engagement plan to address EIA conditions of significance to First Nations continue.
Continue to address other conditions associated with the three-year extension to the construction commencement timeline for the Sisson Project to December 3, 2025 granted by New Brunswick's Minister of Department of Environment and Climate Change.
Andrew Ing, CEO commented: "With the support of local contractors, vendors, community, and consultants, we have successfully completed Phase 1 geotechnical drilling and are advancing Phase 1 archeological work. I would like to thank the local contractors for their assistance, as we continue to advance the Sisson Project toward construction. Planning for field work in 2024 is underway. We will continue to work collaboratively with the regulators in New Brunswick and First Nations as we address EIA conditions."
The Company also continues to advance offtake and project finance discussions with interested parties; and pursue funding opportunities under the Critical Minerals Joint Action Plan between Canada and the United States.
In this regard, Northcliff recently participated in the International Tungsten Industry and Association ("ITIA") Annual Conference, held in Osaka, Japan, in October 2023, at which discussions on offtake and finance were held with off-takers, investors, supply chain companies and tungsten industry leaders. "Favorable meetings with the conference participants were held during ITIA," commented Andrew Ing, CEO. "These discussions included status of the Sisson Project as a strategic asset, as well as momentum gained from the execution of the field program and ongoing corporate activities driving toward the construction commencement timeline of December 2025."
The Company will also be featured in Canadian Mining Magazine's Winter Edition Publication with an article on critical minerals and its Sisson Project to be published in January 2024 ahead of Prospectors & Developers Association of Canada annual conference in March 2024.
About Northcliff Resources Ltd.
Northcliff is a mineral resource company focused on advancing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. Northcliff owns an 88.5% interest in the Sisson Partnership, which owns the Sisson Tungsten-Molybdenum Project. Todd Corporation holds an 11.5% interest in the Sisson Partnership and owns 76.63% of the issued and outstanding shares of Northcliff.
This news release contains forward-looking information based on current expectations. Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward looking information may include, without limitation, advancement of the planned programs under the Work Plan, the opinions or beliefs of management, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies, and outlook of Northcliff, and includes statements about, among other things, future developments, the future operations, strengths and strategy of Northcliff. Generally, forward looking information can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These statements should not be read as guarantees of future performance or results. These statements are based upon certain material factors, assumptions and analyses that were applied in drawing a conclusion or making a forecast or projection, including Northcliff's experience and perceptions of historical trends, the ability of Northcliff to maximize shareholder value, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.
Although such statements are based on management's reasonable assumptions at the date such statements are made, there can be no assurance that it will be completed on the terms described above and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. Northcliff assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
For additional information regarding forward-looking statements and their related risks, please refer to the "Risk Factors" section in the Annual Information Form of the Company for the year ended on October 31, 2022, which is available on the Company's SEDAR+ profile at www.sedarplus.ca.
