Vancouver-based Northcliff Resources (TSE: NCF) says the final federal authorization has been received for the Sisson tungsten-molybdenum project 60 km northwest of Fredericton, New Brunswick.
Environmental approvals were given in 2015 and 2017 for the project. Mining, crown lease, construction and operating permits are to be filed in 2019.
The Sisson project is operated and 88.5% owned by Northcliff. Its 11.5% partner is New Zealand- based company Todd Minerals.
Northcliff hopes to make a positive development decision for Sisson this year or in 2020 following offtake discussions that are currently underway. The project is not yet fully funded. An open pit mine with a 25-year life is proposed.
The 2013 feasibility study is to be updated in 2019.
At market close, Northcliff’s shares were up 15% on the TSE, priced at 7 Canadian cents. The day’s trading volume was 88,175, nearly six times the 15,582 daily average. The company has a C$13m market capitalization.
This article first appeared in the Canadian Mining Journal