Almonty Identifies Molybdenum Resource Adjacent to Sangdong Tungsten Mine

Almonty Industries Inc. announced that its JORC 2012 compliant Inferred Mineral Resource Estimate (MRE) of molybdenum resource for the Almonty Korea Moly Project (AKM Project) is 21.48 million tonnes at 0.26% MoS₂ with a reporting cut-off of 0.19% at the existing Sangdong tungsten mine in Korea, which is currently under construction.

Lewis Black, Chairman, President, and CEO of Almonty, commented, "The AKM project is a major growth segment for our company, conveniently located adjacent to the tungsten mine and on our under-construction Sangdong Tungsten Mine. Based on a review of previous exploration work, there is significant upside at MRE as the deposit is open in multiple directions and there is also the potential to delineate a high-grade zone within the current orebody. We look forward to continuing further exploration work and incorporating the AKM project into the Sangdong project".

(Source: Junior Mining)

Almonty noted that based on a review of historical drilling, the molybdenum zone may continue to extend to the northeast and northwest, where significant amounts of MoS₂ were identified during historical exploration drilling. The molybdenum resource at the AKM project is located near the Sangdong project and appears to be hydrothermal in nature with two distinct phases of mineralization.

The current assessment was conducted and prepared in accordance with the guidelines of the JORC Code (2012). The current resource estimate is as follows, with a marginal level of 0.19% MoS₂. This marginal level is based on a molybdenum price of $14.25/lb. The resource model uses a maximum 100-meter lateral extrapolation.

A mineralized envelope has been identified in previous evaluation work, and it is clear that MoS₂ mineralization continues into the overlying slate. The entire upper part of the MoS₂ mineralized zone overlaps with tungsten-bearing deposits and underground pits. Sample preparation from the core to the pulp is done in the field for analysis.

From 2006 to 2008, 41 elements were analyzed at a laboratory in Brisbane using inductively coupled plasma mass spectrometry (ICP-MS) for ore-grade quantities of specific elements. All quantities are reported in parts per million (ppm).

In the current resource estimation work, global average density values (t/m³) of 2.63 t/m³ for quartzite and 2.7 t/m³ for slate have been used. It is considered that the density values used do adequately account for voids. There is no basis for any specific relationship between density and MoS₂ grade values.

(Source: Almonty Industries)

All of these modeled resources are classified as inferred, reflecting the spacing and quality of available data and the geological understanding of the deposit.

Toronto, Canada-based Almonty Industries' principal activities are the mining, processing, and transportation of tungsten concentrates from its Los Santos mine in western Spain and its Panasqueira mine in Portugal, as well as the development of its Sangdong tungsten mine in Gangwon Province, Korea and the development of its Valtreixal tin/tungsten project in northwestern Spain.

The Sangdong mine is historically one of the largest tungsten mines in the world and one of the few long-lived high-grade tungsten mines outside of China.

(Source: Junior Mining)

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