| ||March 02, 2013|
New Discovery Of The Dakota Zone At Cantung
17.3 ft interval of 0.76% WO3; 21.2 ft interval of 0.72% WO3; 13.3 ft interval of 1.77% WO3
Vancouver, BC - North American Tungsten Corporation Ltd. (TSX.V: NTC) ("NTC" or "the Company") is pleased to announce the results of the Fall 2012 surface diamond drill program and the discovery of what is now known as the "Dakota Zone" located a mere 700 metres from the main E Zone.
A surface diamond drill program was put into place to follow up on surface diamond drill hole S09-07 (drilled in 2009) and the results from underground drilling in 2012. As a result a total of 9,140 feet in 9 holes were drilled from one surface location.
Drilling and Modeling Program Complete
The surface program utilized a track mounted diamond drill fitted with NQ size core. Nine holes averaging over 1000 ft. each were drilled with spacing at depth varying from 100-180 feet. Core recovery was excellent and close to 100%. The core was logged by in-house geologists and samples were assayed both in-house and at ALS Laboratories, Vancouver. Visual estimates (using a black light) was also used as a final check.
Significant results from the 9 holes (using a 0.3% WO3 cut off) include 17.3 ft. averaging 0.76%WO3 and 0.31% copper (hole S12-31), 11.6 ft. averaging 0.30% WO3 and 5.00% zinc (hole S12-32) and 13.3 ft. averaging 1.77% WO3 (hole S12-39). Results from the drilling are summarized below.
** S09-07 was previously drilled in 2009 - no copper/zinc available
Using a 0.3% WO3 cut off
The new area termed the "Dakota Zone" is located on the north flank of the granitic intrusive that lies in close proximity to the "ore limestone" and "Swiss Cheese" horizons of the Cantung Mine.
Results are encouraging. It was previously thought that the granite truncated the limestone in this area of the property. It is now evident that this is not case and that the limestone is following the granite contact. There is some structural complexity in the area (faulting and folding) which may account for some of the dissimilar assay results. The overall continuity of the zone however is very encouraging, as is its close proximity to mine infrastructure. Additionally, a second lower occurrence of mineralization was intersected in a zone bounded by granite. While unusual for this mine site, it has similarities to mineralization encountered in the Amber Zone. The unusually high grade of the zinc in hole S12-32 is also encouraging for future exploration.
A summer diamond drill and geophysics program is planned to follow up on this discovery.
Mr. Stephen Leahy, CEO stated "This is an important discovery for the Cantung Mine as it indicates the presence of a potential new zone very near our existing workings. In addition, the possibility of accessing this new area from underground could make the Dakota Zone a significant component to our future mine plan."
Quality Assurance Sample analyses were 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 Chemex Labs in Vancouver. Comparisons were acceptable and reliable.
Qualified Person 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 pursuant to the terms of 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"
Stephen M. Leahy,
Chairman & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." Cautionary Note: The Company relies upon litigation protection for "forward-looking" statements.
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.
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