Significant increase/Extended life of mine
Heidelberg/Denver. Almonty Industries, 13.7% owned by Deutsche Rohstoff AG, announced today that it has published an updated NI 43-101 report for the two operating mines Los Santos (Spain) and Wolfram Camp (Australia) as well as the Valtreixal development project (Spain). Combined with the resources announced earlier in the year for the Sangdong development project (South Korea) the current reserves of Almonty amount to 12.4 million tonnes with an average grade of 0.41% WO3. Resources in the measured and indicated category add to 14.86 million tonnes (including reserves) with an average grade of 0.45% WO3 and inferred resources add to 53.98 million tonnes with an average grade of 0.32% WO3.
Despite the already existing Sangdong resource, Almonty due to intensive exploration activity was able to increase its combined measured and indicated resources for Los Santos, Wolfram Camp and Valtreixal by 74% within one year. Inferred resources were even increased by 92%. Tungsten grades changed by + 2% and – 26% respectively.
Lewis Black, President and CEO of Almonty commented: “We believe the updated NI 43-101 Technical Reports demonstrate the consistent expansion of Almonty’s tungsten reserves and resources over the previously filed reports, once again demonstrating the company’s ability to increase the life-of-mine at each of its projects as well as uncovering their full potential.”
A detailed version of the press release can be downloaded on the companies website http://www.almonty.com/.
Heidelberg, 20 November 2015
Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complete our portfolio. For more information please visit www.rohstoff.de.