Crowflight Granted License to Commence Production at Bucko Lake Nickel Project
Friday March 28, 3:41 pm ET
TORONTO, ONTARIO--(Marketwire - March 28, 2008) - CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX VENTURE:CML - News) is pleased to announce that it has received its Environment Act License from the province of Manitoba. This permit will allow Crowflight to commence production at the Bucko Lake Nickel Project, located near Wabowden, Manitoba.
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Due to the extended schedule for completion of the federal permitting process to allow Crowflight to store tailings in Bucko Lake and the likelihood that federal permits would not be available by the time the mine would be ready to start production in the third quarter of 2008, Crowflight decided to consider alternative means of bringing the project into production. To this end, Crowflight submitted a Notice of Alteration (NOA) to its original Environment Act License Proposal in December 2007 to include the provision for an interim land-based tailings storage facility (ITSF) that would allow for up to 12 months of tailings to be stored on surface, assuming 50% of the tailings are disposed underground in mined out areas as originally planned.
Mike Hoffman, Crowflight's President and CEO commented: "We are pleased to have received the Environment Act License from the provincial government, as it gives us the green light to commence production at the Bucko Lake Nickel Project this year. We feel that the interim land-based tailings storage is the best solution to allow us to begin operations at Bucko upon completion of site construction. This interim alternative will ensure the safety and protection of the surrounding environment and will enable us to start production in the third quarter of 2008, while allowing the federal permitting process for the use of Bucko Lake as a Tailings Impoundment Area to be duly completed. We continue to work closely with our local communities, the government of Manitoba and the federal government to expedite the federal permitting process."
Due to the nature of the design of the ITSF, only provincial permitting is required. However, Crowflight is still engaged in, and will continue with, the process of securing federal environmental permits for the use of Bucko Lake as a Tailings Impoundment Area (TIA) for long-term tailings storage. One of the major milestones in the federal permitting process occurred in November 2007 and in February 2008 with the Section 35 Aboriginal Consultation with the community of Wabowden and the First Nation community of Cross Lake. The next milestone in the federal permitting process should occur in the second quarter of 2008 with the release of the Canadian Environmental Assessment Act (CEAA) screening environmental assessment (prepared by Fisheries and Oceans Canada in cooperation with Transport Canada) relating to the use of Bucko Lake as a TIA.
Once the final approval for the proposed TIA is obtained from the federal government, Crowflight plans to transfer the tailings stored in the land-based ITSF to the Bucko Lake TIA, as this method is considered the most environmentally-sound approach for secure, long-term tailings storage.
The current construction schedule estimates that the commissioning of the processing plant and ore throughput ramp-up will occur in the third quarter of 2008, with mill commissioning expected in July and the first ore to be processed through the mill in August of 2008.
Please visit www.crowflight.com for photos of construction activities at the Bucko Lake Nickel Project.
Crowflight Minerals - Canada's Next Nickel Producer
Crowflight Minerals Inc. (TSX VENTURE:CML - News) is a Canadian junior mining exploration and development company focused on nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin. The Company currently owns and/or has under option approximately 800 square kilometres of exploration and development properties in Manitoba and Ontario.
Crowflight's priority is to bring the fully-funded Bucko Lake Nickel Project located near Wabowden, Manitoba into production by the third quarter of 2008.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding construction and permitting timelines and costs, environmental impact, impact of receipt of permits, timing of future aboriginal consultation and costs of timing of production. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Total Shares Outstanding: 251.0MM
Fully Diluted: 300.0MM
52-Week Trading Range: C$0.45 - $1.35
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Mike Hoffman
Crowflight Minerals Inc.
President and CEO
(416) 861-2964
Heather Colpitts
Crowflight Minerals Inc.
Manager, Investor and Public Relations
(416) 861-5803
Email: info@crowflight.com
Website: www.crowflight.com
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Source: Crowflight Minerals Inc.
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