NORTHCLIFF ANNOUNCES RESULTS OF FEASIBILITY STUDY UPDATE FOR SISSON PROJECT
Original announcement by tmx on
- Company
- Northcliff Resources Ltd.
- Ticker
- NCF
- Exchange
- TSX
- Region
- New Brunswick, Canada
- Primary commodity
- Tungsten
- Secondary commodities
- Molybdenum
- Document categories
- Resource update, Metallurgy
- Extracted
- 2026-09-12 14:22:42 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Northcliff Resources announced positive results from the Feasibility Study Update for its Sisson Project in New Brunswick, Canada. The study forecasts strong financial returns for an open-pit tungsten-molybdenum mine, with a post-tax NPV of $6,915 million and an IRR of 49.8%. The project outlines proven and probable mineral reserves of 276.8 Mt, supporting a 27-year mine life with substantial annual production of both critical minerals.
Reasoning: The Feasibility Study Update presents robust economics for the Sisson Project, confirming its viability as a significant producer of critical tungsten and molybdenum, despite increased costs.
Positive factors
- Strong post-tax NPV of $6,915 M and IRR of 49.8% from the Feasibility Study Update.
- Significant proven and probable mineral reserves of 276.8 Mt for a 27-year mine life.
- Project will be a key producer of critical minerals (tungsten and molybdenum).
- Updated study reflects improved metal prices and exchange rates since 2013.
Negative factors
- Increases in inflation and provincial tax rates have increased capital and operating costs.
- Recoveries for tungsten (78%) and molybdenum (82%) are below typical flotation benchmarks.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 16
Classification and evidence
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The document reports 'Proven' mineral reserves for both tungsten and molybdenum.
Evidence · table
“Proven”
Context: Proven
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The document reports 'Probable' mineral reserves for both tungsten and molybdenum.
Evidence · table
“Probable”
Context: Probable
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: The document reports 'Measured' mineral resources for both tungsten and molybdenum.
Evidence · table
“Measured”
Context: Measured
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The document reports 'Indicated' mineral resources for both tungsten and molybdenum.
Evidence · table
“Indicated”
Context: Indicated
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The document reports 'Inferred' mineral resources for both tungsten and molybdenum.
Evidence · table
“Inferred”
Context: Inferred
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The document states that 'The Company will file an NI 43-101 technical report on SEDAR+ within 45 days of this release' and that Qualified Persons reviewed information for NI 43-101 purposes.
Evidence · text
“The Company will file an NI 43-101 technical report on SEDAR+ within 45 days of this release.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Robert Gray, P.Eng. is named as the independent Qualified Person for Mineral Reserve estimates, and Philip Geusebroek, M.Sc., P. Geo. is named for Mineral Resources.
Evidence · text
“The Mineral Reserve estimates were prepared by Robert Gray, P.Eng., the independent Qualified Person”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Mineral Reserves are reported based on an effective LOM cut-off at $16.31/t NSR, and Mineral Resources are estimated at an NSR cut-off grade of C$12.02/t.
Evidence · text
“Mineral Reserves are reported based on a variable (by period) NSR grade cut-off, with an effective LOM cut-off at $16.31/t.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces the results of a 'Feasibility Study Update' which includes updated Mineral Reserve and Mineral Resource estimates.
Evidence · text
“Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce the results of the Feasibility Study Update (the "2026 Study" or "Feasibility Study Update") for the Sisson Project”
Low Recoverynegative · Story-specific tag
Recovery below the weak band for the commodity and processing route.
Why it applies: Tungsten recovery is 78.0% and Molybdenum recovery is 82.0%, both of which are below the weak band (80%) for default flotation processing.
Evidence · table
“78.0%”
Context: 0.075%
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("concentrator")
Extracted facts
Stored fact records: 16. Some facts used in scoring do not have a stored record.
Resource Estimates (14)
provenSisson Project · tungstenTonnes: 85600000Grade: 0.079Grade Unit: %Contained Metal: 6.77Contained Unit: m mtuView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- tungsten
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Robert Gray, P.Eng.
- Resource group id
- resource:44212011626cdf114772
- Mining method
- open_pit
Resource Data
- Category
- proven
- Tonnes
- 85600000
- Grade
- 0.079
- Grade Unit
- %
- Contained Metal
- 6.77
- Contained Unit
- m mtu
- Cutoff Grade
- 16.31
- Cutoff Unit
- $/t
Prior Estimate
- Resource Date
- 2026-08-11
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: This Proven Reserve for tungsten contributes significantly to the project's overall economic viability and confidence.
Positive factors
- High confidence Proven Reserve category.
- Significant tonnage and contained metal for tungsten.
Evidence · table
“0.079”
Context: 85.6
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenSisson Project · molybdenumTonnes: 85600000Grade: 47.79Grade Unit: m lbContained Metal: 47.79Contained Unit: m lbView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- molybdenum
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Robert Gray, P.Eng.
- Resource group id
- resource:44212011626cdf114772
- Mining method
- open_pit
Resource Data
- Category
- proven
- Tonnes
- 85600000
- Grade
- 47.79
- Grade Unit
- m lb
- Contained Metal
- 47.79
- Contained Unit
- m lb
- Cutoff Grade
- 16.31
- Cutoff Unit
- $/t
Prior Estimate
- Resource Date
- 2026-08-11
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: This Proven Reserve for molybdenum adds substantial value to the project, complementing the primary tungsten production.
Positive factors
- High confidence Proven Reserve category.
- Significant contained metal for molybdenum as a critical byproduct.
Evidence · table
“47.79”
Context: 85.6
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableSisson Project · tungstenTonnes: 191200000Grade: 0.073Grade Unit: %Contained Metal: 13.92Contained Unit: m mtuView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- tungsten
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Robert Gray, P.Eng.
- Resource group id
- resource:8bb3664825f41a03d5b2
- Mining method
- open_pit
Resource Data
- Category
- probable
- Tonnes
- 191200000
- Grade
- 0.073
- Grade Unit
- %
- Contained Metal
- 13.92
- Contained Unit
- m mtu
- Cutoff Grade
- 16.31
- Cutoff Unit
- $/t
Prior Estimate
- Resource Date
- 2026-08-11
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The Probable Reserve for tungsten provides substantial additional resources, extending the project's economic horizon.
Positive factors
- Large tonnage in the Probable Reserve category for tungsten.
- Adds significant scale to the project's mine life.
Evidence · table
“0.073”
Context: 191.2
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableSisson Project · molybdenumTonnes: 191200000Grade: 90.58Grade Unit: m lbContained Metal: 90.58Contained Unit: m lbView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- molybdenum
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Robert Gray, P.Eng.
- Resource group id
- resource:8bb3664825f41a03d5b2
- Mining method
- open_pit
Resource Data
- Category
- probable
- Tonnes
- 191200000
- Grade
- 90.58
- Grade Unit
- m lb
- Contained Metal
- 90.58
- Contained Unit
- m lb
- Cutoff Grade
- 16.31
- Cutoff Unit
- $/t
Prior Estimate
- Resource Date
- 2026-08-11
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The Probable Reserve for molybdenum significantly boosts the project's byproduct credits and overall economic robustness.
Positive factors
- Large contained molybdenum in the Probable Reserve category.
- Enhances the overall economic value of the project.
Evidence · table
“90.58”
Context: 191.2
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableSisson Project · tungstenTonnes: 276800000Grade: 0.075Grade Unit: %Contained Metal: 20.69Contained Unit: m mtuView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- tungsten
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Robert Gray, P.Eng.
- Resource group id
- resource:3d3ee97239a26137564b
- Mining method
- open_pit
Resource Data
- Category
- probable
- Tonnes
- 276800000
- Grade
- 0.075
- Grade Unit
- %
- Contained Metal
- 20.69
- Contained Unit
- m mtu
- Cutoff Grade
- 16.31
- Cutoff Unit
- $/t
Prior Estimate
- Resource Date
- 2026-08-11
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The combined Proven & Probable Reserves for tungsten underpin the project's long-term production profile and economic viability.
Positive factors
- Total Proven & Probable Reserves provide a robust foundation for the project.
- Significant contained tungsten supports a long mine life.
Evidence · table
“0.075”
Context: 276.8
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableSisson Project · molybdenumTonnes: 276800000Grade: 138.37Grade Unit: m lbContained Metal: 138.37Contained Unit: m lbView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- molybdenum
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Robert Gray, P.Eng.
- Resource group id
- resource:3d3ee97239a26137564b
- Mining method
- open_pit
Resource Data
- Category
- probable
- Tonnes
- 276800000
- Grade
- 138.37
- Grade Unit
- m lb
- Contained Metal
- 138.37
- Contained Unit
- m lb
- Cutoff Grade
- 16.31
- Cutoff Unit
- $/t
Prior Estimate
- Resource Date
- 2026-08-11
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The combined Proven & Probable Reserves for molybdenum significantly enhance the project's overall revenue stream and economic resilience.
Positive factors
- Total Proven & Probable Reserves include substantial molybdenum.
- Strong byproduct contribution to project economics.
Evidence · table
“138.37”
Context: 276.8
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredSisson Project · tungstenTonnes: 117900000Grade: 0.068Grade Unit: %Contained Metal: 8Contained Unit: m mtuView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- tungsten
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Philip Geusebroek, M.Sc., P.Geo.
- Resource group id
- resource:14f748d9280506d5e5e1
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 117900000
- Grade
- 0.068
- Grade Unit
- %
- Contained Metal
- 8
- Contained Unit
- m mtu
- Cutoff Grade
- 12.02
- Cutoff Unit
- C$/t
Prior Estimate
- Resource Date
- 2025-12-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The Measured Resource for tungsten indicates a high level of geological confidence, supporting the project's long-term potential.
Positive factors
- High confidence Measured Resource category for tungsten.
- Provides a strong base for future reserve conversion.
Evidence · table
“0.068”
Context: 117.9
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredSisson Project · molybdenumTonnes: 117900000Grade: 0.022Grade Unit: %Contained Metal: 57.2Contained Unit: m lbView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- molybdenum
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Philip Geusebroek, M.Sc., P.Geo.
- Resource group id
- resource:14f748d9280506d5e5e1
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 117900000
- Grade
- 0.022
- Grade Unit
- %
- Contained Metal
- 57.2
- Contained Unit
- m lb
- Cutoff Grade
- 12.02
- Cutoff Unit
- C$/t
Prior Estimate
- Resource Date
- 2025-12-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The Measured Resource for molybdenum provides a high-confidence base for byproduct revenue, enhancing project economics.
Positive factors
- High confidence Measured Resource category for molybdenum.
- Adds significant byproduct potential to the project.
Evidence · table
“0.022”
Context: 117.9
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedSisson Project · tungstenTonnes: 303700000Grade: 0.061Grade Unit: %Contained Metal: 18.5Contained Unit: m mtuView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- tungsten
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Philip Geusebroek, M.Sc., P.Geo.
- Resource group id
- resource:b5f89eabdcc8e3b090c3
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 303700000
- Grade
- 0.061
- Grade Unit
- %
- Contained Metal
- 18.5
- Contained Unit
- m mtu
- Cutoff Grade
- 12.02
- Cutoff Unit
- C$/t
Prior Estimate
- Resource Date
- 2025-12-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The Indicated Resource for tungsten significantly expands the project's overall resource base, offering future growth potential.
Positive factors
- Large tonnage in the Indicated Resource category for tungsten.
- Provides substantial potential for future reserve conversion.
Evidence · table
“0.061”
Context: 303.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedSisson Project · molybdenumTonnes: 303700000Grade: 0.019Grade Unit: %Contained Metal: 127.2Contained Unit: m lbView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- molybdenum
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Philip Geusebroek, M.Sc., P.Geo.
- Resource group id
- resource:b5f89eabdcc8e3b090c3
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 303700000
- Grade
- 0.019
- Grade Unit
- %
- Contained Metal
- 127.2
- Contained Unit
- m lb
- Cutoff Grade
- 12.02
- Cutoff Unit
- C$/t
Prior Estimate
- Resource Date
- 2025-12-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The Indicated Resource for molybdenum adds considerable byproduct value, contributing to the project's overall economic attractiveness.
Positive factors
- Large contained molybdenum in the Indicated Resource category.
- Further enhances the project's byproduct potential.
Evidence · table
“0.019”
Context: 303.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedSisson Project · tungstenTonnes: 421600000Grade: 0.063Grade Unit: %Contained Metal: 26.6Contained Unit: m mtuView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- tungsten
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Philip Geusebroek, M.Sc., P.Geo.
- Resource group id
- resource:29149dddf7ae3d060917
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 421600000
- Grade
- 0.063
- Grade Unit
- %
- Contained Metal
- 26.6
- Contained Unit
- m mtu
- Cutoff Grade
- 12.02
- Cutoff Unit
- C$/t
Prior Estimate
- Resource Date
- 2025-12-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The combined Measured & Indicated Resources for tungsten establish a substantial and confident resource base for the project.
Positive factors
- Total Measured & Indicated Resources provide a robust and high-confidence resource base for tungsten.
- Strong foundation for long-term project development.
Evidence · table
“0.063”
Context: 421.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedSisson Project · molybdenumTonnes: 421600000Grade: 0.02Grade Unit: %Contained Metal: 185.9Contained Unit: m lbView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- molybdenum
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Philip Geusebroek, M.Sc., P.Geo.
- Resource group id
- resource:29149dddf7ae3d060917
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 421600000
- Grade
- 0.02
- Grade Unit
- %
- Contained Metal
- 185.9
- Contained Unit
- m lb
- Cutoff Grade
- 12.02
- Cutoff Unit
- C$/t
Prior Estimate
- Resource Date
- 2025-12-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The combined Measured & Indicated Resources for molybdenum represent a substantial and confident source of byproduct value.
Positive factors
- Total Measured & Indicated Resources include significant molybdenum.
- Provides a strong and confident base for byproduct revenue.
Evidence · table
“0.020”
Context: 421.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredSisson Project · tungstenTonnes: 182900000Grade: 0.048Grade Unit: %Contained Metal: 8.8Contained Unit: m mtuView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- tungsten
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Philip Geusebroek, M.Sc., P.Geo.
- Resource group id
- resource:9503ee2491ef67e2cab3
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 182900000
- Grade
- 0.048
- Grade Unit
- %
- Contained Metal
- 8.8
- Contained Unit
- m mtu
- Cutoff Grade
- 12.02
- Cutoff Unit
- C$/t
Prior Estimate
- Resource Date
- 2025-12-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The Inferred Resource for tungsten provides additional exploration upside but requires further drilling to upgrade confidence.
Positive factors
- Adds to the overall resource potential of the project.
Negative factors
- Lower confidence Inferred category.
Evidence · table
“0.048”
Context: 182.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredSisson Project · molybdenumTonnes: 182900000Grade: 0.02Grade Unit: %Contained Metal: 80.6Contained Unit: m lbView all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- molybdenum
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-11T00:00:00.000Z
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Philip Geusebroek, M.Sc., P.Geo.
- Resource group id
- resource:9503ee2491ef67e2cab3
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 182900000
- Grade
- 0.02
- Grade Unit
- %
- Contained Metal
- 80.6
- Contained Unit
- m lb
- Cutoff Grade
- 12.02
- Cutoff Unit
- C$/t
Prior Estimate
- Resource Date
- 2025-12-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: The Inferred Resource for molybdenum offers additional byproduct potential but requires further work to improve confidence.
Positive factors
- Adds to the overall byproduct potential of the project.
Negative factors
- Lower confidence Inferred category.
Evidence · table
“0.020”
Context: 182.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Metallurgical Results (2)
flotationSisson Project · tungstenRecovery: 78 %View all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- tungsten
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- crushing, grinding, and flotation
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Canada
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: Tungsten recovery is reported at 78% via flotation, which is below typical benchmarks for this processing route, potentially impacting overall project economics.
Positive factors
- Recovery is based on actual testwork from a detailed study.
Negative factors
- Recovery of 78% is below the weak band for default flotation (80%).
Evidence · table
“78.0%”
Context: 0.075%
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
flotationSisson Project · molybdenumRecovery: 82 %View all detailsHide details
Identity
- Project
- Sisson Project
- Commodity
- molybdenum
- Region
- canada_nb
- Reported Region
- New Brunswick, Canada
- Ticker
- NCF
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- crushing, grinding, and flotation
Recovery
- Recovery
- 82 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Canada
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-31T00:00:00.000Z
Reasoning: Molybdenum recovery is reported at 82% via flotation, which is at the lower end of typical benchmarks for this processing route, potentially affecting byproduct revenue.
Positive factors
- Recovery is based on actual testwork from a detailed study.
Negative factors
- Recovery of 82% is below the weak band for default flotation (80%), though closer to the threshold.
Evidence · table
“82.0%”
Context: 227 ppm
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.