Toronto, Ontario--(Newsfile Corp. - April 21, 2021) - KWG Resources Inc. (CSE: KWG) (CSE: KWG.A) (FSE: KW6)("KWG" or the "Company") subsidiary CANADA CHROME CORP ('CCC')has launched a website (www.canadachromecorp.com) focusing on transportation of mine production from the Ring of Fire mineral interests. The website includes a scoping study report prepared for CCC by Rail-Veyor Technologies Global Inc for the transportation of 10 million tons per annum of chromite ore.
"This appears to be a very viable option for our ore-haulage mining-claims, with tremendously attractive project economics and a very benign environmental footprint,' said CCC President, Tony Marquis. 'What is very exciting also is the opportunity to run a powerline to provide electricity to Marten Falls, Eabematoong, Webequie, Neskantaga and possibly Nibinamik, to maximize this option. It deserves to be aptly named; perhaps the 'Lowlands Trade Corridor'. We'll next be examining the integration of the system into underground bulk mining and other ways to ensure that the area's sensitive biosphere remains intact with minimal alteration to its natural state."
Added KWG CEO, Frank Smeenk, "We suspect it has not been lost on the USA-Canada Critical Minerals Task Force that China's pre-emptive right to acquire Noront assets, or production from them, was recently relinquished by Baosteel, one of the PRC's most important State-Owned Enterprises. We anticipate this will pave the way for development of this critical chromite bank-in-the-ground for the national security of the USA and reinforce its role in global trade. Accordingly, we will communicate to the Chiefs of the most directly-affected First Nations, a plan that would let our long-proposed equal-revenue-sharing model become fungible as these developments ensue, perhaps as an early advance royalty sale to provide indigenous certainty to the highly focused US capital markets."
About KWG:
KWG is the Operator of the Black Horse Joint Venture ('JV') after acquiring a vested 50% interest through Bold Ventures Inc ('Bold') from Fancamp Exploration Ltd ('Fancamp'). KWG funds all JV exploration expenditures and Bold is carried for a 20% interest in KWG's interest. KWG has also received patents in Canada, South Africa and Kazakhstan and is prosecuting patent applications in India, Indonesia, Japan, South Korea, Turkey and the USA for the direct reduction of chromite to metalized iron and chrome using natural gas and an accelerant. It has also received a USA patent for production of low carbon chromium iron alloys.
Canada Chrome Corporation:
CCC is a wholly owned subsidiary of KWG which has staked claims and conducted a surveying and soil testing program, originally for the design engineering and construction feasibility of a railroad to the Ring of Fire from Aroland, Ontario. Its COO Tony Marquis has been a top tier executive with both Canadian National Railroad and Canadian Pacific Railroad, where he played an integral role in the two most successful railroad turnarounds in North America. At both companies, he worked closely with his mentor, the legendary Hunter Harrison, who led both railroads to becoming the most efficient in the industry.
Qualified Person:
Maurice J. (Moe) Lavigne, P.Geo., Vice-President of Exploration & Development of the Corporation, is the designated "Qualified Person" as defined in Section 1.2 in and for the purposes of National Instrument 43-101, that reviewed the technical content of this release on behalf of KWG.
For further information, please contact:
Bruce Hodgman, Vice-President: 416-642-3575 ~ info@kwgresources.com
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 KWG 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 securities that may be described herein and accordingly undue reliance should not be put on such. Neither the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81222
