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Marten Falls & KWG to Propose Ring of Fire Mining Partnership, Meet With China Railway FSDI $KWG.ca

Posted by AGORACOM-JC at 8:21 AM on Tuesday, April 25th, 2017

   

  • Working towards establishing the principal terms of an equal partnership for the mining of chromite in the Ring of Fire
  • Parties envisage large-volume underground mining operations for the delivery of chromite raw materials by railroad, for further processing

TORONTO, ONTARIO–(April 25, 2017) – The Marten Falls First Nation has undertaken with KWG Resources Inc. (CSE:KWG)(CSE:KWG.CN)(FRANKFURT:KW6) (“KWG” or the “Company”) to work towards establishing the principal terms of an equal partnership for the mining of chromite in the Ring of Fire.

The parties envisage large-volume underground mining operations for the delivery of chromite raw materials by railroad, for further processing. The parties will travel to China in mid-May to establish interest in long-term offtake and financing arrangements there. They will also meet with China Railway First Survey & Design Institute Group (‘FSDI’) to discuss details of the feasibility study prepared for KWG last year by FSDI. The proposed railroad traverses the traditional territories of the Marten Falls, Webequie and Aroland First Nations.

The capital cost of creating the mining operation and its railroad is estimated to be $4 billion. The parties have requested that Ontario’s Ring of Fire Infrastructure Development Corporation indicate its willingness to provide a $1 billion guarantee as consideration for project financing terms from Chinese lenders.

The partnership is envisaged to include the Aroland and Webequie First Nations as well as the more remote members of the Matawa Council of First Nations. An offer of partnership will also be extended to Ring of Fire mineral claim holders Noront Resources Ltd., Fancamp Exploration Ltd., Bold Ventures Inc. and Probe Metals Inc.

About KWG:

KWG is the Operator of the Black Horse Joint Venture after acquiring a vested 50% interest through Bold Ventures Inc. which is carried for 10% (20% of KWG’s equity in the JV) by KWG funding all exploration expenditures. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP is prosecuting two chromite-refining patent applications in Canada, China, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The filings have been receipted in each of those jurisdictions.

Forward-Looking Statements: Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

Shares issued and outstanding: 1,022,316,001

KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
info@kwgresources.com

Mining Minute – 2.12- Infrastructure Funds Application Submitted Yet? $KWG.ca

Posted by AGORACOM-JC at 5:22 PM on Thursday, April 13th, 2017

Mining Minute – 2.11 KWG Gas Reduction Patents & Protection $KWG.ca

Posted by AGORACOM-JC at 11:58 AM on Wednesday, April 5th, 2017

Mining Minute – 2.10 – Upcoming KWG Shareholder Meeting Info $KWG.ca

Posted by AGORACOM-JC at 2:42 PM on Friday, March 31st, 2017

Mining Minute – S2- Episode 9- Send in Your Questions! $KWG.ca

Posted by AGORACOM-JC at 8:32 AM on Friday, March 24th, 2017

Mining Minute – Season 2 Episode 7 – Firestarter Screening in Toronto $KWG.ca

Posted by AGORACOM-JC at 2:46 PM on Tuesday, March 7th, 2017

Mining Minute – S2- Episode 4- Hyperloop Contest Results $KWG.ca

Posted by AGORACOM-JC at 2:48 PM on Wednesday, February 15th, 2017

Mining Minute S2 E2 – FSDI Group Feasibility Update $KWG.ca

Posted by AGORACOM-JC at 1:54 PM on Wednesday, February 1st, 2017

Mining Minute – Season 2 – Episode 1 – KWG Resources in Turkey $KWG.ca

Posted by AGORACOM-JC at 12:14 PM on Friday, January 27th, 2017

 

Kwglarge

In the first episode of the new Mining Minute series, host Theresa questions KWG Resources CEO Frank Smeenk about his recent visit to Turkey.

KWG Resources Inc.: Globe & Mail’s Ring of Fire Claims Disregards News and Ottawa Investment $KWG.ca

Posted by AGORACOM-JC at 2:33 PM on Thursday, December 22nd, 2016

Kwglarge

  • Article by Rachelle Younglai in yesterday’s Globe & Mail overlooks the real news occurring a few days ago,
  • By instead republishing an oft-reported miscalculation and profound understatement of the value of the minerals discovered thus far in the Ring of Fire area of Northern Ontario’s James Bay Lowlands

TORONTO, ONTARIO–(Dec. 22, 2016) – The article by Rachelle Younglai in yesterday’s Globe & Mail overlooks the real news occurring a few days ago, by instead republishing an oft-reported miscalculation and profound understatement of the value of the minerals discovered thus far in the Ring of Fire area of Northern Ontario’s James Bay Lowlands. KWG Resources Inc. (CSE:KWG)(FRANKFURT: KW6) (“KWG”), Probe Resources Ltd. and Noront Resources Ltd. have previously reported (in regulatory filings under NI43-101) that there have been 343.4 million tonnes of chromite delineated by exploration drilling completed there to date, to a very shallow depth. These include measured and indicated resources of 20.5 million tonnes (“MT”) at 35.8% Cr2O3 (“%”), 137.7MT @ 31.5%, 5.4MT @ 29.3%, 29.1MT @ 31.7%, 8.6MT @ 37.4%, plus inferred resources of 23.5MT @ 33.1%, 3.4MT @ 28.1%, 1.6MT @ 37.8%, 26.8MT @ 29.3%, 0.9MT @ 22.8% and 85.9MT @ 34.5%. The tonnes documented thus far only, contain an average grade of more than 30% chromite.

Until a few days ago, chromium was priced at CA$1.10 per pound. However, last week terms for delivery from a major supplier in South Africa were settled with its customers in China, which consumes almost two-thirds of the globe’s output of this commodity. It was announced that for the first quarter of next year the price will be 50% higher, the equivalent of CA$1.65 per pound. Yesterday, The Economic Times reported that ferrochrome is expected to maintain higher price levels for an extended time. Accordingly, the values “between $31-billion and $54-billion” reported by the Globe & Mail are very demonstrably incorrect.

This Press Release contains disclosure required and approved by the Investment Industry Regulatory Organization of Canada which dictated that we remove an extrapolation of 30% chromite in 343.4 million tonnes into pounds of recoverable ferrochrome, or their in-situ value. However, we were required to add: “Please note, this reporting by the Globe and Mail, which we believe to be erroneous, does not meet the requirements for the reporting of mineral resources or mineral reserves as required by publicly reporting companies in Canada like KWG and Noront.”

Also, as a participant in both the Steering and Technical Committees supervising the Chromite Research Project of Natural Resources Canada’s CanmetMINING laboratories, KWG is aware of the Government of Canada’s commitment to advancing resource development in the Ring of Fire through research and development with industry to address increased efficiency and green processing technologies as they relate to chromite with the understanding that chromite deposits located in Ontario’s Ring of Fire have production potential that could make Canada a significant global producer, processor and supplier of products that contain chromium.

About KWG:

KWG is the Operator of the Black Horse Joint Venture after acquiring a vested 50% interest through Bold Ventures Inc. which is carried for 10% (20% of KWG’s equity in the JV) by KWG funding all exploration expenditures. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP is prosecuting two chromite-refining patent applications in Canada, China, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The filings have been receipted in each of those jurisdictions.

M. J. (Moe) Lavigne, P.Geo., KWG’s Vice-President of Exploration & Development, is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.

Shares issued and outstanding: 966,320,281

KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
info@kwgresources.com