VANCOUVER, Feb. 23, 2018 /CNW/ - Northern Dynasty Minerals
Ltd. (TSX: NDM; NYSE American: NAK) ("Northern Dynasty" or the
"Company") announces it has filed a technical report on southwest
Alaska's Pebble Project, following
up on its news release dated January
5, 2018.
The technical report documents a minor increase in the estimate
of the mineral resources at Pebble from those previously
disclosed. The increase is due to the change in metallurgical
processing approach as outlined in the Project Description
submitted to the US Army Corps of Engineers in late 2017 (see the
January 5 news release), and resulted in changes to the metal
recoveries used to establish the pit shell which constrains the
resource estimate.
At a 0.3% copper equivalent cut-off, the current
estimate1 comprises:
- 6.456 billion tonnes in the combined Measured and
Indicated categories at a grade of 0.40% copper, 0.34 g/t gold,
240 ppm molybdenum and 1.7 g/t silver, containing 57 billion pounds
of copper, 71 million ounces of gold, 3.4 billion pounds of
molybdenum and 345 million ounces of silver; including
-
- 0.527 billion tonnes in the Measured category at a grade of
0.33% copper, 0.35 g/t gold, 178 ppm molybdenum and 1.7 g/t silver,
and
- 5.929 billion tonnes in the Indicated category at a grade of
0.41% copper, 0.34 g/t gold, 246 ppm molybdenum and 1.7 g/t silver;
and
- 4.454 billion tonnes in the Inferred category at a grade
of 0.25% copper, 0.25 g/t gold, 226 ppm molybdenum and 1.2 g/t
silver, containing 25 billion pounds of copper, 36 million ounces
of gold, 2.2 billion pounds of molybdenum and 170 million ounces of
silver.
The technical report is available under the Company's profile at
www.sedar.com.
David Gaunt, P. Geo, a qualified
person who is not independent of Northern Dynasty, is responsible
for the estimate. He has reviewed and approved the technical
content of this release.
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1
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The mineral resources
fall within a volume or shell defined by metal prices (USD) of
$1540/oz for gold, $3.63/lb for copper, $12.36/lb for molybdenum
and $20 for silver.
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A 0.30% copper
equivalent (CuEQ) cut-off is considered to be comparable to those
used for porphyry deposit open pit mining operations in the
Americas.
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CuEQ calculations use
metal prices (USD) of $1.85/lb for copper, $902/oz for gold and
$12.50/lb for molybdenum, and recoveries of 85% for copper 69.6%
for gold, and 77.8% for molybdenum in the Pebble West zone and
89.3% for copper, 76.8% for gold, and 83.7% for molybdenum in the
Pebble East zone. Contained metal values are based on 100%
recoveries.
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All mineral resource
estimates, cut-offs and metallurgical recoveries are subject to
change as a consequence of more detailed analyses that would be
required in pre-feasibility and feasibility studies.
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About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development
company based in Vancouver,
Canada. Northern Dynasty's principal asset, owned through
its wholly-owned Alaska-based US
subsidiary Pebble Limited Partnership and other wholly-owned
subsidiaries, is a 100% interest in a contiguous block of 2,402
mineral claims in southwest Alaska, including the Pebble deposit. The
Pebble Partnership is the proponent of the Pebble Project, an
initiative to develop one of the world's most important mineral
resources.
For further details on Northern Dynasty and the Pebble Project,
please visit the Company's website at
www.northerndynastyminerals.com or contact Investor services
at (604) 684-6365 or within North
America at 1-800-667-2114. Review Canadian public filings at
www.sedar.com and US public filings at www.sec.gov.
Ronald W. Thiessen
President & CEO
Forward Looking Information and other
Cautionary Factors
This release includes certain statements that may
be deemed "forward-looking statements". All statements in this
release, other than statements of historical facts, especially
those that address estimated resource quantities, grades and
contained metals, and metal price assumptions are forward-looking
statements because they are generally made on the basis of
estimation and extrapolation from a limited number of drill holes
and metallurgical studies. Although diamond drill hole core
provides valuable information about the size, shape and geology of
an exploration project, there will always remain a significant
degree of uncertainty in connection with these valuation factors
until a deposit has been extensively drilled on closely spaced
centers, which has occurred only in specific areas on the Pebble
Project. Although the Company believes the expectations expressed
in its forward-looking statements are based on reasonable
assumptions, such statements should not be in any way construed as
guarantees of the ultimate size, quality or commercial feasibility
of the Pebble Project or of the Company's future performance or the
outcome of litigation.
Assumptions used by the Company to develop
forward-looking statements include the following: the Pebble
Project will obtain all required environmental and other permits
and all land use and other licenses, studies and development of the
Pebble Project will continue to be positive, and no geological or
technical problems will occur. The likelihood of a partnering
transaction is subject to risks related to the satisfactory
completion of due diligence and negotiations, including
finalization of definitive agreements and fulfilment of conditions
precedent therein, including receipt of all necessary
approvals. Such process may not be successfully completed or
completed on terms satisfactory to the Company. The likelihood of
future mining at the Pebble Project is subject to a large number of
risks and will require achievement of a number of technical,
economic and legal objectives, including obtaining necessary mining
and construction permits, approvals, licenses and title on a timely
basis and delays due to third party opposition, changes in
government policies regarding mining and natural resource
exploration and exploitation, the final outcome of any litigation,
completion of pre-feasibility and final feasibility studies,
preparation of all necessary engineering for surface or underground
mining and processing facilities as well as receipt of significant
additional financing to fund these objectives as well as funding
mine construction. Such funding may not be available to the Company
on acceptable terms or on any terms at all. There is no known ore
at the Pebble Project and there is no assurance that the
mineralization at the Pebble Project will ever be classified as
ore. The need for compliance with extensive environmental and
socio-economic rules and practices and the requirement for the
Company to obtain government permitting can cause a delay or even
abandonment of a mineral project. The Company is also subject to
the specific risks inherent in the mining business as well as
general economic and business conditions. For more information on
the Company, Investors should review the Company's filings with the
United States Securities and Exchange Commission and its home
jurisdiction filings that are available at www.sedar.com
Information Concerning Estimates of Measured,
Indicated and Inferred Resources
This news release uses the terms "measured
resources", "indicated resources" and "inferred resources".
Northern Dynasty Minerals Ltd. advises investors that although
these terms are recognized and required by Canadian regulations
(under National Instrument 43-101 Standards of Disclosure for
Mineral Projects), the U.S. Securities and Exchange Commission does
not recognize them. Investors are cautioned not to assume that any
part or all of the mineral deposits in these categories will ever
be converted into reserves. In addition, "inferred resources" have
a great amount of uncertainty as to their existence, and economic
and legal feasibility. It cannot be assumed that all or any part of
an Inferred Mineral Resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of Inferred Mineral
Resources may not form the basis of feasibility or pre-feasibility
studies, or economic studies except for Preliminary Economic
Assessment as defined under 43-101. Investors are cautioned not to
assume that part or all of an inferred resource exists, or is
economically or legally mineable
SOURCE Northern Dynasty Minerals Ltd.