Northcliff Resources Ltd. is a mineral development company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada. Northcliff is publicly traded on the Toronto Stock Exchange (TSX) under the symbol NCF.
The Sisson property hosts a large near-surface tungsten-molybdenum deposit amenable to open pit mining. Sisson has excellent potential to be a near-term metal producer, with the capability to meet increasing tungsten demand from North American, European and Asian markets.
In January 2013, Northcliff announced positive feasibility results for the Sisson Project based on a 30,000 tonnes per day open pit mining and milling operation and an ammonium paratungstate (APT) plant.
Highlights from the Sisson Project Feasibility Study include1:
334 million tonne proven and probable mineral reserve2 containing 22.2 million metric tonne units (mtu) of tungsten trioxide (WO3) and 154 million pounds of molybdenum (Mo) at an $8.83/t Net Smelter Return cut-off
Average of 557,000 WO3 mtu in APT and 4.1 M lb Mo in concentrate produced annually over a 27-year mine life
Pre-tax net present value (NPV) of $714 million (8% discount rate), a pre-tax internal rate of return (IRR) of 20.4% and a 4.1-year payback on initial capital expenditures of $579 million
Post-tax NPV of $418 million, a post-tax IRR of 16.3% and a 4.5-year payback
The Sisson Project has received both provincial and federal approvals after progressing through a rigorous, four-year environmental assessment process.
Current project activities are directed toward obtaining construction and operating permits, while the senior management team advances discussions to secure off-take agreements and project financing.