KWG Publishes Ring of Fire Infrastructure Corridor Compilation Map
Rhea-AI Summary
KWG Resources Inc. (CSE: CACR), operating as The Canadian Chrome Company, has released its Ring of Fire Infrastructure Compilation Map. This map outlines a proposed 330-kilometer 'Utility Corridor' from Nakina, Ontario to the company's Black Horse chromite discovery in the James Bay Lowlands. The plan includes:
1. Transportation and electrification systems
2. 1,685 claims staked by subsidiary Canada Chrome in 2009-2010
3. 32 aggregate extraction permit applications
4. Engagement with Cormorant Utilities and Rail-Veyor Technologies for engineering proposals
The project aims to connect the Ring of Fire area to the trans-Canada transportation system and Ontario power grid, with plans to extend electrification to nearby First Nations communities.
Positive
- Proposed 330-kilometer 'Utility Corridor' to connect Ring of Fire area to transportation and power infrastructure
- 1,685 claims staked along the proposed route
- 32 aggregate extraction permit applications filed for local construction material sourcing
- Engagement of engineering firms for transportation and utility system proposals
Negative
- No immediate revenue generation from the infrastructure project
- Potential delays and costs associated with permitting and construction of a large-scale infrastructure project
- Uncertainty regarding project approval and funding
News Market Reaction
On the day this news was published, KWGBF gained 33.66%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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
For further information, please contact:
Bruce Hodgman, Vice-President: 416-642-3575 ~ info@canadachrome.com
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
FAQ
What is the length of KWG Resources' proposed 'Utility Corridor' for the Ring of Fire project?
How many claims has Canada Chrome staked for the KWG Resources (KWGBF) Ring of Fire project?
What is the purpose of KWG Resources' (KWGBF) Ring of Fire Infrastructure Compilation Map?
How many aggregate extraction permits has KWG Resources (KWGBF) applied for in the Ring of Fire project?
