The Conversation (0)
An NI 43-101-compliant preliminary economic assessment (PEA) has been completed for the Woulfe Mining Corp. (TSXV:WOF,OTCQX:WFEMF) 100% owned Muguk gold project in South Korea, and indicates that Muguk is a potentially viable project that will return a positive net discounted cash flow.
As quoted in the press release:
The PEA identified a mining inventory, consisting of inferred resource and unclassified diluting material, of 728,000 tonnes grading 7.0 g/t gold. Silver is present in the deposit, but has not been reported in the mineral resource, so was excluded from consideration in PEA. The designed production areas are confined to the Three Brothers Vein.
Woulfe CEO/President, Brian Wesson, said:
“The PEA indicates that the project is economic as it has a positive NPV. We are also excited that this was based on mining one vein of the nine veins on the field and does not include any of the silver. This project was Korea’s largest producing gold project and by developing the Three Brothers vein it will allow for exploration of the field that has substantial underground development that extends across the over 1km strike and down dip to 700 metres below surface.”
Click here to read the Woulfe Mining Corp. (TSXV:WOF) press release
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