Northcliff Resources Ltd. [NCF-TSX] said it has received final approval for funding from Natural Resources Canada (NRCan) to help advance the companys Sisson Tungsten-Molybdenum Critical Minerals Project in New Brunswick. NRCan will provide contribution funding for up to $8.2 million in support of the costs for the update of the feasibility study and basic engineering through the Global Partnership Initiative.
Northcliff shares on Friday jumped 11.1% or $0.01 to 10 cents and trade in a 52-week range of 12 cents and $0.015.
The objectives of the work being funded by NRCan are to build on and complement the programs being supported through the $20.7 million in Defense Production Act (DPA) Title 111 funding awarded by the U.S. Department of Defense, as detailed in Northcliffs May 1, 2025, press release. This initiative supports Canada and U.S. goals to secure supply chains for the critical minerals needed for important manufacturing sectors, including communication technology, aerospace and defense, and clean technology.
This federal investment demonstrates Canadas commitment to increasing Canadian mineral production to strengthen domestic supply chains, create Canadian jobs, and make the most of our natural resources, in New Brunswick and across the country, said Tim Hodgson, Canadas Minister of Energy and Natural Resources.
The United States and its allies currently rely on sources such as China for tungsten. China produces about 80% of the worlds tungsten, a supply that lacks pricing transparency causing market disruptions in the past.
Located near tidewater on the southeastern coast of New Brunswick, the Sisson Project hosts a deposit with critical minerals tungsten and molybdenum. The company said Sisson has the potential to become an accessible and reliable producer, strengthening and diversifying the supply chain for these two metals.
Northcliff spent $70 million on resource, engineering, environmental and economic studies on the Sisson Project that culminated in a positive feasibility study in 2013, as well as the provincial and federal processes since that time that resulted in environmental assessment and other key approvals.
The company is currently focused on advancing the project through the pre-construction phase with several aspects of the planned pre-construction program in progress. These include the feasibility update, basic engineering, which is designed to provide the necessary economic and technical information to support a construction decision.
Additionally, detailed project development planning, project finance and offtake engagement activities have been launched.
Northcliff holds an 88.5% controlling interest and is the operator of the Sisson project. The balancer is held by Todd Corp. of New Zealand, which holds an 11.5% stake in Northcliff. The project is based on a large, structurally controlled, intrusion-related tungsten-molybdenum deposit that is amenable to open pit mining.
The proposed operation in the 2013 feasibility study for the Sisson Project is an open pit mine with conventional processing facilities, supplemented by value-added downstream and on-site processing of tungsten concentrates in an ammonium paratungstate plant.
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