Thursday 27th October 2016

Resource Clips

Woulfe reports S Korea Results of 0.6% Tungsten, 0.12% Molybdenum over 17.5m

Resource Clips - essential news on junior gold mining and junior silver miningWoulfe Mining Corp TSXV:WOF announced results from its Sangdong Tungsten-Molybdenum Project in South Korea. Highlights include

0.6% WO3 (tungsten oxide powder) and 0.12% MoS2 (molybdenum disulfide) over 17.5 metres
(including 1.46% WO3 and 0.01% MoS2 over 2.5 metres)
0.68% WO3 and 0.04% MoS2 over 4.5 metres
0.58% WO3 and 0.08% MoS2 over 4.5 metres
0.52% WO3 and 0.28% MoS2 over 8.5 metres
0.48% WO3 and 0.1% MoS2 over 6.5 metres
(including 0.74 WO3 and 0.01 MoS2 over 3 metres)
0.75% WO3 and 0.08% MoS2 over 5.5 metres

Sandong’s April feasibility study is based on probable reserves of 1.2 million tonnes tungsten and projects a mine life of 11.5 years with annual production of 400,000 metric-tonne units. Initial capital expenditures are projected to be $151.3 million and operating costs $61.84 per tonne of ore. The project has a pretax net present value of $400.3 million at 8%, with an internal rate of return of 46% and a payback period of 2.2 years.

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Woulfe Mining Corp

Renmark Financial Communications
Barbara Komorowski

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by Greg Klein

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