NEW BRUNSWICK – The province of New Brunswick has reviewed and approved the environmental impact assessment submitted by Northcliff Resources of Fredericton, NB, for its Sisson tungsten-molybdenum project 60 km northwest of Fredericton. The review determined that the project can be built and operated in an environmentally sound manner.

Two years ago the company released the results of a positive feasibility study based on proven and probable reserves of 334.4 million tonnes grading 0.066% WO3 and 0.021% Mo. The pre-tax net present value was estimated at $714 million (8% discount) and the internal rate of return at 20.4%. Preproduction capital expenditures would be $579 million to develop a 30,000-t/d open pit, mill and ammonium paratungstate (APT) plant. Annual production would be 557,000 tonnes APT and 4.1 million lb of moly over a life of 27 years.