Woulfe Mining Corp. (CVE:WOF) announced the update of its activities from its Sangdong Tungsten and Muguk gold projects.
The press release is quoted as saying:
During the course of 2011, the Company has refined its strategy for the development of Sangdong, a world-class tungsten brownfields project located in South Korea. This has been influenced by the strong tungsten price which has increased from around US$200/mtu of APT (metric tonne unit or 10kg of ammonium paratungstate) in early 2010 to over US$450/mtu.
Sangdong was the largest global tungsten producer prior to its closure in 1993 due to low tungsten prices (around US$40/mtu). Historic mining focused on the central skarn sheet referred to as the Main Zone which extends laterally for 1,200 metres and down dip at 20-30° for 1,500 metres. The mine is flooded below the valley floor, however the upper levels are accessible.