Northland Expands the Hannukainen DFS
(firmenpresse) - LUXEMBOURG, LUXEMBOURG -- (Marketwire) -- 03/23/12 -- Northland Resources S.A. (TSX: NAU)(FRANKFURT: NPK)(OSLO: NAUR) ("Northland" or "the Company") announces that the definitive feasibility study ("DFS") on the Hannukainen iron oxide copper gold ("IOCG") project is being extended to ensure that the project meets the exacting standards required of the modern European mining industry.
The Company believes that the standards required for the environmental permit are likely to be more demanding in the future, and as a consequence it has decided to conduct additional work on the construction of the tailings management facility. At issue is also where to place the tailings pond to ensure a long-term secured location given the hydrological, geological and environmental demands to meet current and future industry standards. Due to the complex bedrock in the Hannukainen area, additional drilling has to be initiated to determine the optimal construction and location.
As a result of work carried out so far on the DFS, Northland is now considering locating the process facility to the area around the old process plant at Rautuvaara in order to be able to maximize the use of existing infrastructure and tailing facility.
The majority of the work described will be carried out during this summer and the results of the DFS are expected to be released during the second half of 2012.
Karl-Axel Waplan, President & CEO, Northland Resources S.A.
Northland is a development-stage mining company with a portfolio of iron ore projects in northern Sweden and Finland. The Company's Kaunisvaara Project will exploit two magnetite iron ore deposits in Sweden. The process is expected to yield a high-grade, high-quality magnetite iron concentrate. The construction of the Kaunisvaara project is well underway and production is planned to start in the fourth quarter of 2012. Northland has entered into industrial off-take contracts for the entire production from Kaunisvaara. The Company is also preparing a Definitive Feasibility Study for its Hannukainen Iron Oxide Copper Gold Project in Kolari, northern Finland.
Contacts:
Northland Resources S.A.
Karl-Axel Waplan
President and CEO
+46 705 104 239
Northland Resources S.A.
Anders Antonsson
Vice President Investor Relations
+46 709 994 970
Northland Resources S.A.
Marguerite Manshreck-Head
Investors Relations, Canada
+1 647 224 7882
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Datum: 23.03.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 127878
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Town:
LUXEMBOURG, LUXEMBOURG
Kategorie:
Mining & Metals
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