Almonty Increases Tungsten Reserves by 6.30% in Updated Mineral Resource Estimate for Los Santos

Almonty Industries Inc. (TSXV:AII) released an updated mineral reserve and resource estimate and associated filing for the Los Santos Project in Western Spain: increased tungsten reserves by 6.30%, contained tungsten by 5.75% and extends mine life to 9 years.

As quoted in the press release:

The resource estimate includes 2,760,00 tonnes of measured and indicated mineral resources with a WO3 average grade of 0.32%, plus, 1,527,000 tonnes of inferred resources with a WO3 grade of 0.24%. The currently planned open pits and underground mine contain 1,880,000 tonnes of proven and probable mineral reserves with a WO3 average grade of 0.39%. The planned pits also contain inferred resources of 355,000 tonnes with a WO3 average grade of 0.40%. In addition there are 1,932,000 tonnes of reserves with a WO3 average grade of 0.16% coming from the tailings stockpile. The measured and indicated resources are inclusive of reserves. The complete report is filed on SEDAR (www.sedar.com) under Almonty’s company profile and will also be available on the Company’s website.

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