KWG Resources Inc.
KWG Resources Inc (TSXV: KWG) is an exploration stage company that is participating in the discovery and delineation of chromite deposits in the James Bay Lowlands of Northern Ontario. These deposits appear to promise the hosting of a globally significant source of chromite which may be refined into ferrochrome, a principal ingredient in the manufacture of stainless steel. KWG has been a pioneer in exploring the James Bay lowlands in a joint venture with Spider Resources since 1993. This has resulted in the discovery of several diamond bearing kimberlites and the McFaulds Lake copper-zinc volcanogenic massive sulphide deposits in 2004, the discovery which precipitated a staking rush that defined the "Ring of Fire".KWG acquired a 1% net smelter royalty ("NSR") in three of the presently-defined chromite discoveries and created Canada Chrome Corporation ("CCC") as a wholly-owned subsidiary. CCC has staked mining claims covering a unique linear sand ridge that stands proud of the vast wetlands. This sand ridge is well suited for a railroad embankment which could be created for transporting materials into the discovery area as well as transporting the mined ores out. Krech Ojard & Associates have been engaged to undertake pre-feasibility engineering of the embankment alignment and water crossings. This is being supported by a geotechnical study being carried out by Golder Associates who collected soil samples from 744 borings using hollow stem auger drills. The sampling along the 330 kilometer study corridor was completed in May, 2010. The pre-feasibility level engineering document will enable informed consultations with affected First Nations and all other local and regulatory constituencies, on the feasibility of constructing a railroad.
Since core drilling first intersected chromite on the "Freewest Option" property in 2006, a total of 43 holes were directed to delineate the Big Daddy chromite deposit to a depth of 365 metres. Subsequent to the completion of the winter drilling 2010 program, Micon International Limited, "Micon", was engage to estimate the chromite resource. The results, first reported in a press release on May 3rd, 2010, are contained in a 43-101 compliant report filed on SEDAR on June 7th 2010, (SPIDER RESOURCES INC. AND KWG RESOURCES INC. TECHNICAL REPORT ON THE MINERAL RESOURCE ESTIMATE FOR THE BIG DADDY CHROMITE DEPOSIT McFAULDS LAKE AREA, JAMES BAY LOWLANDS, NORTHERN ONTARIO,CANADA). Micon estimated that the "Massive Chromite Domain" contains an indicated resource of 23.2 million tonnes averaging 40.66% Cr2O3, and an additional inferred resource of 16.3 million tonnes averaging 39.09% Cr2O3. By comparison, Outokumpu's Kemi Mine in Finland has ore reserves of 41.1 million tonnes averaging 24.5% Cr2O3. The much higher grades of the Big Daddy compare favourably with those deposits whose ore is shipped directly to foundries with minimal processing. This potential is being investigated. CCC and the NSR are owned outright by KWG, as is Debuts Diamonds Inc., a wholly-owned subsidiary which contains all the Company's diamond exploration properties. These include the MacFadyen Kimberlites and other contiguous interests that are all adjacent to the De Beers Victor Diamond Mine.
Contact Details
Office Address
KWG Resources Inc.
600 de Maisonneuve Blvd. West, Bureau 2750
Montreal, Quebec, Canada H3A3J2
Phone: (514) 866-6001
Fax: (514) 866-6193
Executives
Chairman
Michael S. Harrington
President, CEO and Director
Frank C. Smeenk