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Woulfe Mining Corp.(TSXV:WOF) announced an increase on its indicated resource by 2.75 times at the Sangdong mine, South Korea. This increase will support the initial ten years of mining at the Sangdong project.
As quoted in the press release:
As quoted in the press release:
This Resource update (effective date January 5th, 2012) represents the combination of the new compliant phase 2 drilling results and further compilation of detailed historical geological and mining data. Work concentrated on developing more detailed models of the three skarn zones from both drill data and additional historical geological mapping. Importantly, additional Intermediate alteration mineralisation was defined between the two thinner skarn zones, the F2 and F3 zones, that go to make up the footwall zone. Additional mining records were digitised and detailed models of historical mining depletion were created.
Woulfe Mining, President and CEO, Brian Wesson, said:
The drilling programs have been successful and produced a significant upgraded in the indicated resource. The proving up of over 10 years of mining resources to accommodate the mining of 1.2 million per annum from above the valley floor (above 2 level) takes the project forward a large step as it provides sufficient ore for the feasibility. The feasibility study is running three months late due to the drilling and the metallurgical test work which was moved to China. Tungsten was mined and APT manufactured for many years by the previous mine owner Korea Tungsten. Woulfe is focused on reconfirming the recoveries and looking to optimise the flow sheet using new age Chinese technology that has been developed over the last 20 years as the world’s largest APT supplier. Feasibility is due for release at the end of the quarter.
Click here to read theWoulfe Mining Corp. (TSXV:WOF) press release
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