Northcliff to complete Sisson FS in mid-2026

Executive Summary

• Northcliff Resources Ltd. provided an operational update on the pre-construction phase of its Sisson tungsten-molybdenum project in New Brunswick, Canada.
• The company is leveraging $23.2 million in combined U.S. and Canadian critical mineral funding (Defense Production Act Title III and Global Partnerships Initiative) to advance the project toward a construction decision.
• Key activities include updating the 2013 feasibility study (expected completion mid-2026), conducting site investigation programs (geotechnical drilling, test pitting, geophysical surveys) for tailings storage facility design, and advancing discussions on project finance and product offtake.

Key Details

• Project Overview: The Sisson project hosts a large deposit of tungsten and molybdenum. A 2013 feasibility study proposed an open-pit mine with conventional processing and a value-added ammonium paratungstate plant. Environmental impact assessment (EIA) approvals were received from provincial and federal governments in 2015 and 2017, respectively.
• Funding Secured:
  • $15 million (U.S.) (~$20.7 million CAD) awarded under the U.S. Defense Production Act Title III program.
  • $8.2 million (CAD) provided through the Canadian Global Partnerships Initiative.
  • Total funding referenced: ~$23.2 million CAD equivalent.
• Feasibility Study Update:
  • Led by Ausenco Engineering Canada ULC.
  • Includes comprehensive review/verification of previous work and assessment of new approaches to optimize mine development.
  • Designed to provide economic and technical information to support a construction decision.
  • Expected completion: Mid-2026.
• Site Investigation Program:
  • Initiated in October 2025 following receipt of a field permit.
  • Activities include geotechnical drilling, test pitting, and geophysical surveys to characterize overburden and bedrock.
  • Purpose: Support basic and detailed engineering/design work for the tailings storage facility.
  • Expected completion: End of February 2026.
• Future Fieldwork:
  • Second phase of fieldwork planned for late spring 2026.
  • Will involve further geotechnical drilling and test pitting in the open-pit area.
• Regulatory and Community Engagement:
  • Heritage Resource Protection Protocol being finalized with the Wolastoqey Nation and the province’s archeology and heritage branch to satisfy EIA conditions.
  • Ongoing community outreach to finalize an engagement plan for the potential operation.
• Commercial and Financial Discussions:
  • Discussions ongoing with key potential Western offtake purchasers.
  • Engagement with potential project funding partners and U.S./Canadian import-export credit agencies.
  • Working with the Canadian Major Projects Office to explore financial and regulatory assistance as a "nation building project."

Notable Quotes

• "Advancing projects like the Sisson project is essential to strengthening Canada's critical minerals supply chains -- including for manufacturing and security -- and supporting jobs and economic growth in Atlantic Canada. Through our Majors Projects Office, our new government is helping move strategically important projects from planning to construction while upholding strong environmental standards and meaningful engagement with local and indigenous communities. This is how we ensure we are a reliable, responsible supplier to our allies and industry and grow the strongest economy in the G7 at home," said Tim Hodgson, Minister of Energy and Natural Resources.