Northland Receives Exploitation Concession for Sahavaara Mine
(Thomson Reuters ONE) -
Luxembourg, October 28, 2010: Northland Resources S.A. (TSX: NAU, OSE: NAUR,
Frankfurt: NBS - "Northland" or "the Company") is pleased to announce today it
received from the Mining Inspectorate of Sweden the exploitation concession for
the Sahavaara magnetite deposit. As indicated in the NI 43-101 compliant report
on the Kaunisvaara Iron Concentrate Project, the concession allows for mining of
122 Mt of measured, indicated and inferred resources.
The Sahavaara deposit is approximately 2,000m long and 400m deep and it will be
mined as an open cast mine. The exploitation concession is based on extensive
geological documentation and a thorough Environmental Impact Assessment. The
concession will form the basis for an application of a mining permit that is
expected to be filed shortly at the Environmental Court in Umeå.
The ore will be processed in a dedicated section in the Kaunisvaara mill, for
which, the Company recently received an environmental permit from the Finnish-
Swedish Border River Commission (see the August 20, 2010 press release). The
permit allows for processing of 20 Mtpa magnetite ore. The mill will require a
flotation section for removal and safe disposal of sulphides from the Sahavaara
concentrate.
The product, a high-quality magnetite pellet feed concentrate, will be mixed
with the concentrate from the Tapuli mine, and they will be managed as one
product in the logistics system. At full capacity, the output is expected to be
5 Mtpa.
To secure access to the mining area, a process for purchase of properties in the
Sahavaara village is underway. The Company is seeking voluntary agreements with
each of the property owners.
Mining of the Sahavaara deposit is an important part of the Kaunisvaara project,
enabling increased production and extended project life.
Northland is a development-stage mining company with a portfolio of iron
projects in northern Sweden and Finland. Northland's Kaunisvaara Project
contemplates the staged development of 3 magnetite iron ore deposits that would
provide feed to a single, multi-line processing facility in Sweden, producing a
high-grade, high-quality magnetite iron concentrate. The results of the
Feasibility Study on the Kaunisvaara Project were released September 27, 2010.
"Karl-Axel Waplan"
President & CEO
Northland Resources S.A.
For more information please contact:
Karl-Axel Waplan, President & CEO: +46 705 104 239
Anders Hvide, Executive Chairman: +47 92 88 98 58
Eva Kaijser, CFO: +46 709 32 09 01
Marguerite Manshreck-Head, Investor Relations, Canada: +1 647 224 7882
Or visit our website at: www.northland.eu
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1456752]
Press release PDF:
http://hugin.info/137015/R/1456752/396588.pdf
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other applicable laws; and
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originality of the information contained therein.
Source: Northland Resources S.A. via Thomson Reuters ONE
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Datum: 28.10.2010 - 16:25 Uhr
Sprache: Deutsch
News-ID 47114
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