Malaga Inc. Announces Updated Resource at Pasto Bueno Project

Malaga Inc.(TSX:MLG) announced that it has increased its resource by 140% at its Pasto Bueno Tungsten project. The Company announced the updated resource and reserve estimate which complies with its NI 43-101 on the Pasto Bueno project. Malaga are still to release the full results from its first exploratory drill campaign.

As quoted in the press release:

The resource estimate includes 195,880 tonnes of proven and probable reserves with a WO3 average grade of 0.66%, 814,096 tonnes of measured and indicated resources with a WO3 average grade of 0.78%, 4,168,216 tonnes of inferred resources comprised of 3,718,216 tonnes with a WO3 grade of 0.83%, and 450,000 tonnes with a WO3 average grade of 0.14% coming from the Huaura tailings pond. The measured and indicated resources are inclusive of reserves.

Pierre Monet, Malaga Inc., President and CEO, said:

We have been increasing resources and reserves every year since restarting the production at the mine in 2007. At current production rates, we have close to two years of reserves.

Click here to read the Malaga Inc. (TSX:MLG) press release