TSX Venture Exchange
Symbol: NWM
Shares Outstanding: 197,664,527
TORONTO, March 11 /CNW/ - NWM Mining Corporation (the "Company" TSX-V: NWM) is pleased to announce that it has contracted with Mintec, Inc. of Tucson, Arizona to prepare the resource and reserves section of a new National Instrument 43-101 technical report. This technical report will calculate mineral reserves and update mineral resources for the Lluvia de Oro and La Jojoba project. The report will be in compliance with NI 43-101 and will incorporate new information attained by application of enhanced accuracy block modeling and pit design engineering.
The Lluvia de Oro and La Jojoba project covers two distinct gold deposits which are separated by approximately 3.5 km in the State of Sonora, Mexico. NWM has title over 5,075 ha of ground covering 14 claims. The ADR (gold recovery) and the SART (copper recovery) plants located onsite have been commissioned successfully, and a recently commenced 25,000 meter drilling program is currently underway on the Company's ground.
"NWM is now completing a report to outline mineable reserves and resources for the Lluvia de Oro and La Jojoba deposits, as they are currently defined. This report will use new information generated by enhanced accuracy geological modeling and by applying engineering techniques for pit designs. A further NI 43-101 compliant reserve and resource report will be completed later in the year and will incorporate results of the Company's drilling program. These measures are expected to materially improve reportable reserve and resource characteristics for the Company's Lluvia de Oro and La Jojoba project," stated Chris Berlet, President and CEO.
Mr. R. Blakestad, BSc Geology, is a qualified person under NI 43-101 and has reviewed and approved the technical disclosure in this press release
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.