KWG Received Assessment Work Approval For Mining Claims Samples To Be Donated To Ontario Geological Survey
21 Mar 2011Montreal, Canada – March 21, 2011 – The wholly-owned subsidiary of KWG Resources Inc. (TSXV: KWG), Canada Chrome Corporation has filed five years’ worth of assessment work on almost all of its mining claims that make up its 328 kilometer corridor which is a prospective route to construct railroad ore-haulage infrastructure. If approved and applied as credits to the claim blocks, Canada Chrome Corporation will have sufficient assessment work to apply for 21-year mining leases on those blocks. A previous filing made in late 2010 was approved by the Ministry of Northern Development, Mines and Forestry and became final on March 15, 2011 thereby securing tenure in many of the claims.
Canada Chrome Corporation staked the claims and engaged Golder Associates to conduct a geotechnical sampling program last year. As a result of this program $7.7 million of assessment work is included in the new filing. Soil profile samples were taken from 811 hollow stem boreholes at regular intervals over the 328 kilometer study corridor. KWG has made arrangements to donate the 5,906 samples collected to the Ontario Geological Survey with whom it is presently consulting on the protocols for a heavy minerals analysis of the glacial till section encountered at the bottom of most of the boreholes.
The data generated by the Golder program is now being incorporated into the railroad engineering model, for completion of a pre-feasibility study by Krech Ojard & Associates, the railroad engineering firm engaged by KWG.
For further information, please contact:
Bruce Hodgman
Communications Director
416-646-1374
info@kwgresources.com
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Forward-Looking Information
This news release contains or refers to forward-looking information. All statements, other than statements of historical fact that address activities, events or developments that KWG believes, expects or anticipates will or may occur in the future are forward-looking information. Such forward-looking information includes, but is not limited to, statements regarding the assessment work being approved and applied as credits to claim blocks, the possible application for mining leases, the completion of the soil protocols for a heavy minerals analysis and the completion of a railroad engineering model.
This forward-looking information reflects the current expectations or beliefs of KWG based on information currently available to it. In connection therewith, certain factors and assumptions have been considered, including (without limitation) the obtaining of approval of the assessment work as credits, the obtaining of the mining leases, the completion of the soil protocols for heavy minerals and the completion of the railroad engineering model, and eventual construction, financing and permitting risks associated with railway construction. Although KWG believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future actions and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results to differ materially from the conclusions or forecasts discussed in the forward-looking information, and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on KWG. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the assessment work not being approved and applied as credits, and consequently the failure to obtain mining leases on the relevant claims, the heavy minerals analysis not producing favourable results, the railroad engineering model producing unfavourable results, inability to complete the construction of the railroad due to construction problems, insufficient financing, or inability to obtain required permits, inability to obtain financing from investors, and considerations and risks normally incidental to exploration and development of, and production from, mineral properties and/or adverse changes in securities markets, economic and general business and financial conditions.
Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, KWG disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
