September 04, 2024 2:27 PM EDT | Source: KWG Resources Inc.
Toronto, Ontario–(Newsfile Corp. – September 4, 2024) – KWG Resources Inc. (CSE: CACR) (CSE: CACR.A).
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KWG Resources Inc., which carries on business as The Canadian Chrome Company (“CCC”, “KWG” or the “Company”), is pleased to announce publication of its Ring of Fire Infrastructure Compilation Map which includes its proposed “Utility Corridor” for constructing transportation and electrification systems through the James Bay Lowlands from Nakina, Ontario to the Company’s Black Horse chromite discovery, a distance of 330 kilometers. The compilation plan is set out above and will be republished shortly to include electricity transmission line locations to the area’s remote communities.
The Company’s wholly owned subsidiary, Canada Chrome Corporation (the “Subsidiary”), staked 1,685 claims in 2009 and 2010 along what the Company believes to be the most suitable terrain for constructing transportation and electrification systems through the James Bay Lowlands from Nakina, Ontario to the Company’s properties in the Ring of Fire, a distance of 330 kilometers. The Subsidiary staked 1,685 claims in 2009 and 2010 and then conducted a surveying and mineral and soil testing program to explore for minerals and to assess the prospects for the engineering and construction of a railroad or other transportation facility along that route. The Subsidiary identified deposits of aggregate along the route and made application under the Aggregates Act (Ontario) for 32 aggregate extraction permits to supply from local sources along the route the aggregate needed for construction of the road bed and other facilities. Then, in 2021, the Company and its Subsidiary engaged Cormorant Utilities and Rail-Veyor Technologies to prepare Engineering Proposals for the construction of transportation and utility systems along the route of the proposed Utility Corridor to connect the Ring of Fire area to the trans-Canada transportation system and the Ontario power grid which run through Nakina, Ontario (near Aroland). The proposals include electrification systems connecting from the Utility Corridor to several First Nations communities in the James Bay Lowlands in the Ring of Fire area.
About The Canadian Chrome Company:
KWG, which carries on business as The Canadian Chrome Company, is an exploration stage company that is focused on identification, acquisition, consolidation, exploration, development and evaluation of large-scale deposits of minerals including chromite, base metals and strategic minerals and, where applicable, in the development of transportation and electrification links to access remote areas where these deposits may be located. The Canadian Chrome Company is a registered business style of KWG Resources Inc. In respect of chromite, KWG is the owner of 100% of the Black Horse chromite project (formerly part of Fancamp’s “Koper Lake-McFaulds” properties) in which Bold Ventures Inc. is carried through exploration of the former Fancamp claims for 10% of the chromite project. KWG also holds other area interests including a 100% interest in the Hornby claims, a 15% vested interest in the McFaulds copper/zinc project and a vested 30% interest in the Big Daddy chromite project. KWG also owns 100% of Canada Chrome Corporation (the “Subsidiary”) which staked mining claims between Aroland, Ontario (near Nakina) and the Ring of Fire. The Subsidiary has conducted a surveying and mineral and soil testing program to explore for minerals and to assess the prospects for the engineering and construction of a railroad or other transportation facility along that route between the Ring of Fire and Aroland, Ontario covering the claims staked by the Subsidiary. The Subsidiary identified deposits of aggregate along the route and made application for 32 aggregate extraction permits. The Subsidiary engaged Cormorant Utilities and Rail-Veyor Technologies for Engineering Proposals for the construction of a transportation and utility corridor within the route to connect the Ring of Fire area to transportation and electrification systems which run through Nakina, Ontario (near Aroland) connecting to southern Ontario and the rest of Canada and has received those proposals. Those proposals include electrification systems connecting to several First Nations communities in the James Bay Lowlands including in the Ring of Fire area. KWG has also acquired intellectual property interests, including a lower cost and reduced carbon method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP has acquired two chromite-refining patents in Canada and one in each of the USA, South Africa and Kazakhstan, and is prosecuting an application in Turkey.
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.
Disclaimer: 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/222132
SOURCE: KWG Resources Inc.
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