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Woulfe Mining (Wolfram, Molybden, Gold)
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March 15, 2011
Woulfe Mining is pleased to update shareholders on the Company's activities and plans at the Sangdong tungsten molybdenum project in South Korea. Woulfe is advancing the Sangdong project by simultaneously working on five key project objectives. The plan is to have four critical items completed by end of 2011 with project development to be completed during 2012.
-- Resource to support feasibility - Woulfe is drilling the upper part of the current inferred resource of 103.6 Mt at 0.37% WO3 and 0.04% MoS2 cut off 0.1% WO3 (please see press release April 8th 2010). The drilling is focused above the valley floor in an area which is mostly unmined. There are 6 drill rigs on site and the program is forecasted to be complete in May 2011.
The Scoping Study (Wardrop, March 2010) did not take into consideration the molybdenum stock work ore body located below the skarn mineralisation. This zone was drilled by Korea Resources Corporation (KORES) who produced a historical non-compliant reserve estimate of 15 million tonnes at 0.4% MoS2. The 42 holes drilled in the lode were at a steep angle to the interpreted mineralised structures, as were the two subsequent holes drilled by Woulfe. A follow-up drilling program will be considered following the completion of the current program.
-- Mine development permitting - Mine development approval based sufficient area to open the mine was granted in June 2010. Woulfe is currently applying for an expanded area to include the proposed plant site and full site permitting is expected to be obtained by July 2011. -- Definitive design - A crushing circuit has been purchased and definitive design is in progress. Detailed metallurgical test work is to be carried out to finalise design of the grinding and flotation circuits. -- Feasibility - Wardrop Engineers (A Tetra Tech Company) were commissioned in 2010 to complete the definitive feasibility study due in latter part of 2011. -- Financing - Woulfe has determined that the CDN$289 million build cost estimated in the Wardrop Scoping Study is high when compared to a recent mine and processing plant developed in South Korea. Management is considering a number of options to finance this step, which will prevent or minimize dilution to shareholders.
Brian Wesson CEO and President of Woulfe Mining stated, "Focusing on these 5 facets of the Sangdong project simultaneously, accelerates Woulfe towards our goal of production at the Sangdong tungsten molybdenum project in 2012. We achieved a number of significant milestones in 2010, not in the least, securing a strategic relationship with Korea Zinc, which has laid the foundations for us to complete the major project challenges this year. We will keep shareholders updated as we move towards and achieve the goals we have outlined for 2011."
Readers should note that the mine was previously operated for 40 years and closed at an APT price of US$40/mtu in 1993. Management is of the view that the project risks are sufficiently low to warrant moving forward with the definitive design prior to completing a NI 43-101 compliant definition of reserves and the feasibility study. This is based on a current APT price of approximately US$400/mtu, some 40 years of operational knowledge, input from former project technical staff, and the robust Scoping Study based on an APT price of US$250/mtu.
The work outlined above is required to measure the project against the requirements of NI 43-101 to be compliant under the Canadian disclosure regulations. Investors and potential investors need to be aware that the historical data is not compliant and may or may not be compliant even after the above work is done. There is significant risk associated with the project until the work is done and assessed in terms of NI 43-101. Readers are urged to take advice and/or draw their own conclusions based on the Company's plan moving forward.
Resource Drilling
Woulfe currently has six drilling rigs onsite, including three surface rigs and three underground rigs. The planned 5,000 metre drilling program was scheduled to be completed by January 2011, however, progress was delayed due to extreme winter conditions which restricted surface access and the installation of power underground.
Underground drilling is being carried out from the main Sangdong Level, which has been partly rehabilitated to 850m lateral extent from the adit. This provides drilling coverage for approximately half of the strike length of the infrastructure pillar, with the remaining strike length to be drill tested from the surface.
On 7th March 2011, Woulfe received clearance from the Korean Forestry Department for access to the surface drill sites and three rigs have been moved onto the site. To date, approximately 1,000 metres of the 5,000 metres drill program has been completed. The core is being logged onsite and the sample preparation facilities are being re-commissioned.
The samples will be analysed at SGS in Perth, Australia, which currently has the capacity for a quick turn over of the assay results. Results will be released in batches commencing April 2011.
The 5,000 metre drilling program is scheduled to be completed by May 2011 and an updated NI 43-101 resource statement for the upper area targeted by the drilling program is on course for financial year end June 2011.
Mine Development Permitting
Woulfe has spent approximately US$900,000 on detailed environmental work on the Sangdong project area using internationally accepted consultants. The current focus is on final permitting for the process plant site and infrastructure. The permit is expected by July 2011.
Mine Processing Design
Woulfe has the design capability and responsibility to develop the Sangdong project. In addition, Woulfe is using Canadian consultants with tungsten expertise to manage the detailed metallurgical testwork. Half of the cores from the current drilling program will be used for metallurgical testwork, which will cover all aspects of processing from grinding and flotation to APT production.
Detailed design of the process plant is well advanced as the design is the critical path to the aggressive development schedule. The process design will be based on mill throughput of 1.2 million tonnes per annum to produce approximately 400,000 mtu per annum of ammonium paratungstate (APT) and approximately 500,000 pounds of molybdenum half of that considered in the Scoping Study.
The primary crushing circuit has been acquired and the detailed design of the crushing and fine ore storage components is underway. The grinding circuit will be comprised of two rod mills, to be installed in series. Given the delivery period for new mills, typically in excess of nine months, various options are being reviewed so that Woulfe will be in a position to acquire the mills as soon as the testwork is completed. The mills will be approximately 1300kW each and 4.5 diameter and 6.1 metres long.
Woulfe estimates that the initial capital cost for the project will be significantly lower than the US$289 million included in the Scoping Study after comparing costs of a recent mine and processing plant completed in South Korea using local labour and fabrication. Woulfe estimates a requirement of US$15 million working capital.
Feasibility Study
Wardrop Engineers completed the Scoping Study for the Sangdong project in March 2010 and have been commissioned to progress the feasibility study. Progress has been delayed due to the delay in the drilling program. The study is now expected to be completed towards the end of the 2011.
Finance
Korea Zinc Co., Ltd. ("Korea Zinc") (a US$5 billion Korea listed smelter company) invested CDN$10 million into Woulfe in January 2011. Currently, Woulfe has CDN$11 million cash and approximately CDN$6 million in warrants that are 100% in the money and likely to be exercised before the December 2011 due date. This will provide sufficient finance to take the project forward into 2012.
As the management of Woulfe believes that the share price of Woulfe does not reflect the true value of the company and is conscious of dilution, financing in the 100% owned subsidiary, Sangdong Mining Corp in Korea, is being considered. The Heads of Agreement signed between Woulfe and Korea Zinc stipulates that following the CDN$10 million investment into Woulfe Mining Corp, a subsequent investment of CDN$38 million into Sangdong Mining Corp by Korea Zinc for a 51% ownership in the project will follow subject to fulfilment of certain preconditions, including completion of the 5,000m drilling program. Korea Zinc will further arrange CDN$75 million in debt based on the project feasibility. Korea Zinc has exclusivity for a deal, through to the completion of drilling and the update NI 43-101.
With rising tungsten price and due to its status being the largest tungsten project with geographical proximity to markets, Woulfe has been approached by various parties and has received several unsolicited enquiries.
Colin Lutherborrow MAusIMM is a geologist who has 30 years experience in underground mines and the delineation of resources and reserves. Mr. Lutherborrow is a Qualified Person as defined in the Canadian National Instrument 43-101 and has read and approved this release.
finance.yahoo.com/news/Woulfe-Minings-Plan-to-Move-cc…
Woulfe Mining is pleased to update shareholders on the Company's activities and plans at the Sangdong tungsten molybdenum project in South Korea. Woulfe is advancing the Sangdong project by simultaneously working on five key project objectives. The plan is to have four critical items completed by end of 2011 with project development to be completed during 2012.
-- Resource to support feasibility - Woulfe is drilling the upper part of the current inferred resource of 103.6 Mt at 0.37% WO3 and 0.04% MoS2 cut off 0.1% WO3 (please see press release April 8th 2010). The drilling is focused above the valley floor in an area which is mostly unmined. There are 6 drill rigs on site and the program is forecasted to be complete in May 2011.
The Scoping Study (Wardrop, March 2010) did not take into consideration the molybdenum stock work ore body located below the skarn mineralisation. This zone was drilled by Korea Resources Corporation (KORES) who produced a historical non-compliant reserve estimate of 15 million tonnes at 0.4% MoS2. The 42 holes drilled in the lode were at a steep angle to the interpreted mineralised structures, as were the two subsequent holes drilled by Woulfe. A follow-up drilling program will be considered following the completion of the current program.
-- Mine development permitting - Mine development approval based sufficient area to open the mine was granted in June 2010. Woulfe is currently applying for an expanded area to include the proposed plant site and full site permitting is expected to be obtained by July 2011. -- Definitive design - A crushing circuit has been purchased and definitive design is in progress. Detailed metallurgical test work is to be carried out to finalise design of the grinding and flotation circuits. -- Feasibility - Wardrop Engineers (A Tetra Tech Company) were commissioned in 2010 to complete the definitive feasibility study due in latter part of 2011. -- Financing - Woulfe has determined that the CDN$289 million build cost estimated in the Wardrop Scoping Study is high when compared to a recent mine and processing plant developed in South Korea. Management is considering a number of options to finance this step, which will prevent or minimize dilution to shareholders.
Brian Wesson CEO and President of Woulfe Mining stated, "Focusing on these 5 facets of the Sangdong project simultaneously, accelerates Woulfe towards our goal of production at the Sangdong tungsten molybdenum project in 2012. We achieved a number of significant milestones in 2010, not in the least, securing a strategic relationship with Korea Zinc, which has laid the foundations for us to complete the major project challenges this year. We will keep shareholders updated as we move towards and achieve the goals we have outlined for 2011."
Readers should note that the mine was previously operated for 40 years and closed at an APT price of US$40/mtu in 1993. Management is of the view that the project risks are sufficiently low to warrant moving forward with the definitive design prior to completing a NI 43-101 compliant definition of reserves and the feasibility study. This is based on a current APT price of approximately US$400/mtu, some 40 years of operational knowledge, input from former project technical staff, and the robust Scoping Study based on an APT price of US$250/mtu.
The work outlined above is required to measure the project against the requirements of NI 43-101 to be compliant under the Canadian disclosure regulations. Investors and potential investors need to be aware that the historical data is not compliant and may or may not be compliant even after the above work is done. There is significant risk associated with the project until the work is done and assessed in terms of NI 43-101. Readers are urged to take advice and/or draw their own conclusions based on the Company's plan moving forward.
Resource Drilling
Woulfe currently has six drilling rigs onsite, including three surface rigs and three underground rigs. The planned 5,000 metre drilling program was scheduled to be completed by January 2011, however, progress was delayed due to extreme winter conditions which restricted surface access and the installation of power underground.
Underground drilling is being carried out from the main Sangdong Level, which has been partly rehabilitated to 850m lateral extent from the adit. This provides drilling coverage for approximately half of the strike length of the infrastructure pillar, with the remaining strike length to be drill tested from the surface.
On 7th March 2011, Woulfe received clearance from the Korean Forestry Department for access to the surface drill sites and three rigs have been moved onto the site. To date, approximately 1,000 metres of the 5,000 metres drill program has been completed. The core is being logged onsite and the sample preparation facilities are being re-commissioned.
The samples will be analysed at SGS in Perth, Australia, which currently has the capacity for a quick turn over of the assay results. Results will be released in batches commencing April 2011.
The 5,000 metre drilling program is scheduled to be completed by May 2011 and an updated NI 43-101 resource statement for the upper area targeted by the drilling program is on course for financial year end June 2011.
Mine Development Permitting
Woulfe has spent approximately US$900,000 on detailed environmental work on the Sangdong project area using internationally accepted consultants. The current focus is on final permitting for the process plant site and infrastructure. The permit is expected by July 2011.
Mine Processing Design
Woulfe has the design capability and responsibility to develop the Sangdong project. In addition, Woulfe is using Canadian consultants with tungsten expertise to manage the detailed metallurgical testwork. Half of the cores from the current drilling program will be used for metallurgical testwork, which will cover all aspects of processing from grinding and flotation to APT production.
Detailed design of the process plant is well advanced as the design is the critical path to the aggressive development schedule. The process design will be based on mill throughput of 1.2 million tonnes per annum to produce approximately 400,000 mtu per annum of ammonium paratungstate (APT) and approximately 500,000 pounds of molybdenum half of that considered in the Scoping Study.
The primary crushing circuit has been acquired and the detailed design of the crushing and fine ore storage components is underway. The grinding circuit will be comprised of two rod mills, to be installed in series. Given the delivery period for new mills, typically in excess of nine months, various options are being reviewed so that Woulfe will be in a position to acquire the mills as soon as the testwork is completed. The mills will be approximately 1300kW each and 4.5 diameter and 6.1 metres long.
Woulfe estimates that the initial capital cost for the project will be significantly lower than the US$289 million included in the Scoping Study after comparing costs of a recent mine and processing plant completed in South Korea using local labour and fabrication. Woulfe estimates a requirement of US$15 million working capital.
Feasibility Study
Wardrop Engineers completed the Scoping Study for the Sangdong project in March 2010 and have been commissioned to progress the feasibility study. Progress has been delayed due to the delay in the drilling program. The study is now expected to be completed towards the end of the 2011.
Finance
Korea Zinc Co., Ltd. ("Korea Zinc") (a US$5 billion Korea listed smelter company) invested CDN$10 million into Woulfe in January 2011. Currently, Woulfe has CDN$11 million cash and approximately CDN$6 million in warrants that are 100% in the money and likely to be exercised before the December 2011 due date. This will provide sufficient finance to take the project forward into 2012.
As the management of Woulfe believes that the share price of Woulfe does not reflect the true value of the company and is conscious of dilution, financing in the 100% owned subsidiary, Sangdong Mining Corp in Korea, is being considered. The Heads of Agreement signed between Woulfe and Korea Zinc stipulates that following the CDN$10 million investment into Woulfe Mining Corp, a subsequent investment of CDN$38 million into Sangdong Mining Corp by Korea Zinc for a 51% ownership in the project will follow subject to fulfilment of certain preconditions, including completion of the 5,000m drilling program. Korea Zinc will further arrange CDN$75 million in debt based on the project feasibility. Korea Zinc has exclusivity for a deal, through to the completion of drilling and the update NI 43-101.
With rising tungsten price and due to its status being the largest tungsten project with geographical proximity to markets, Woulfe has been approached by various parties and has received several unsolicited enquiries.
Colin Lutherborrow MAusIMM is a geologist who has 30 years experience in underground mines and the delineation of resources and reserves. Mr. Lutherborrow is a Qualified Person as defined in the Canadian National Instrument 43-101 and has read and approved this release.
finance.yahoo.com/news/Woulfe-Minings-Plan-to-Move-cc…
Substanziell ist hier anscheinend für viele alles bestens. Auch die Aussichten scheinen gut zu sein, sonst wäre das Papier nicht eines der wenigen welches sich so schnell wieder in die andere Richtung bewegt. Hier haben wirklich einigen nur auf einen günstigen Zeipunkt zum (Wieder-)Einstieg gewartet. Immer mit dem Ziel der Produktion und der weitern Entwicklung im Blick.
Ich denke wir werden hier wirklich noch positiv überrascht. Wenn nicht diesen Monat, dann vielleicht in 3, 6 oder 12 Monaten?!
Meine Meinung, keine Empfehlung.
Ich denke wir werden hier wirklich noch positiv überrascht. Wenn nicht diesen Monat, dann vielleicht in 3, 6 oder 12 Monaten?!
Meine Meinung, keine Empfehlung.
Woulfe Mining Corp. (WOF) As of March 17th, 2011
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Mar 16/11 Mar 07/11 Choi, Yun Birm Direct Ownership Options 50 - Grant of options 250,000 $0.265
Mar 16/11 Jan 21/11 Choi, Yun Birm Direct Ownership Options 00 - Opening Balance-Initial SEDI Report
Mar 15/11 Jul 06/09 Kable, Charlton William Direct Ownership Options 50 - Grant of options 500,000 $0.100
Mar 15/11 Aug 18/06 Kable, Charlton William Direct Ownership Options 50 - Grant of options 125,000 $0.250
Mar 14/11 Mar 07/11 Kim, Yong Woo Direct Ownership Options 50 - Grant of options 1,000,000 $0.265
Mar 14/11 Mar 07/11 Kim, Yong Woo Direct Ownership Options 00 - Opening Balance-Initial SEDI Report
Mar 14/11 Mar 07/11 Kim, Yong Woo Direct Ownership Common Shares 00 - Opening Balance-Initial SEDI Report
Jan 11/11 Jan 06/11 Choi, Chang Keun Direct Ownership Common Shares 16 - Acquisition under a prospectus exemption 333,340 $0.300
Jan 11/11 Jan 06/11 Choi, Chang Keun Direct Ownership Common Shares 00 - Opening Balance-Initial SEDI Report
Jan 11/11 Jan 06/11 Choi, Yun Birm Direct Ownership Common Shares 16 - Acquisition under a prospectus exemption 666,670 $0.300
- Amended Filing
Do you want to see more filings for this company? Buy today's INK Research Company Report on Woulfe Mining Corp. (WOF). A sample report is available here.
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Mar 16/11 Mar 07/11 Choi, Yun Birm Direct Ownership Options 50 - Grant of options 250,000 $0.265
Mar 16/11 Jan 21/11 Choi, Yun Birm Direct Ownership Options 00 - Opening Balance-Initial SEDI Report
Mar 15/11 Jul 06/09 Kable, Charlton William Direct Ownership Options 50 - Grant of options 500,000 $0.100
Mar 15/11 Aug 18/06 Kable, Charlton William Direct Ownership Options 50 - Grant of options 125,000 $0.250
Mar 14/11 Mar 07/11 Kim, Yong Woo Direct Ownership Options 50 - Grant of options 1,000,000 $0.265
Mar 14/11 Mar 07/11 Kim, Yong Woo Direct Ownership Options 00 - Opening Balance-Initial SEDI Report
Mar 14/11 Mar 07/11 Kim, Yong Woo Direct Ownership Common Shares 00 - Opening Balance-Initial SEDI Report
Jan 11/11 Jan 06/11 Choi, Chang Keun Direct Ownership Common Shares 16 - Acquisition under a prospectus exemption 333,340 $0.300
Jan 11/11 Jan 06/11 Choi, Chang Keun Direct Ownership Common Shares 00 - Opening Balance-Initial SEDI Report
Jan 11/11 Jan 06/11 Choi, Yun Birm Direct Ownership Common Shares 16 - Acquisition under a prospectus exemption 666,670 $0.300
- Amended Filing
Do you want to see more filings for this company? Buy today's INK Research Company Report on Woulfe Mining Corp. (WOF). A sample report is available here.
es wird viel über Woulfe gesprochen!
eu42.spreed.com/checkin/jc/901938046
Gruß
eu42.spreed.com/checkin/jc/901938046
Gruß
Der Test Loch WSDD0025A wurde bei 18,1 Meter in hochgradigen Mineralisierung (letzte Kreuzung 1,1 m bei 1,90% WO3), was interpretiert wird, die F1 Footwall Vene unmittelbar darunterliegenden der Main Zone beendet werden. Weitere Interpretation Arbeit ist erforderlich, um die Venen durch Löcher Footwall WSDD0023A und WSDD0022A durchschnitten bestimmen.
Woulfe nutzt sieben Bohrinseln, um das Programm mit dem verzögerten Start aufgrund von Einschränkungen durch Ausrüstung Verzögerungen und der strenge Winter verursacht Offset beschleunigen. Dieser Vertrag umfasst vier Oberfläche Bohrinseln, einen Vertrag U-Maschine und zwei eigenen U-Maschinen, vor allem rund um die Uhr. Am 12. April 2011, hatte etwa 3000 Metern der 5000 Meter Bohrprogramm (60%) erreicht worden. Die Bohrung ist auf dem Weg durch die Ende Mai abgeschlossen sein und eine aktualisierte NI 43-101 Ressourcenschätzung ist bis Ende Juni veröffentlicht werden, um die Durchführbarkeitsstudie zu untermauern.
Woulfe Herrn Don Smith im Januar als Manager Geologie. Herr Smith ist ein Mitglied des Australian Institute of Mining and Metallurgy und verfügt über ausreichend Erfahrung, um das Bohrprogramm durchzuführen und die relevanten geologischen, Probenentnahme und Analyse-Prozesse zu verwalten. Diese Pressemitteilung wurde überprüft und genehmigt in der Form und in welchem ​​Kontext es erscheint von Kanada ansässiges geologisches Woulfe's Berater, Herrn Pat Stephenson, P. Geo, von AMC Mining Consultants (Canada) Ltd Stephenson hat die entsprechende Qualifikation und ausreichende einschlägige Erfahrung als Qualified Person für die Meldung von Explorations-Ergebnisse für die Sangdong Lagerstätte zu qualifizieren.
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Woulfe nutzt sieben Bohrinseln, um das Programm mit dem verzögerten Start aufgrund von Einschränkungen durch Ausrüstung Verzögerungen und der strenge Winter verursacht Offset beschleunigen. Dieser Vertrag umfasst vier Oberfläche Bohrinseln, einen Vertrag U-Maschine und zwei eigenen U-Maschinen, vor allem rund um die Uhr. Am 12. April 2011, hatte etwa 3000 Metern der 5000 Meter Bohrprogramm (60%) erreicht worden. Die Bohrung ist auf dem Weg durch die Ende Mai abgeschlossen sein und eine aktualisierte NI 43-101 Ressourcenschätzung ist bis Ende Juni veröffentlicht werden, um die Durchführbarkeitsstudie zu untermauern.
Woulfe Herrn Don Smith im Januar als Manager Geologie. Herr Smith ist ein Mitglied des Australian Institute of Mining and Metallurgy und verfügt über ausreichend Erfahrung, um das Bohrprogramm durchzuführen und die relevanten geologischen, Probenentnahme und Analyse-Prozesse zu verwalten. Diese Pressemitteilung wurde überprüft und genehmigt in der Form und in welchem ​​Kontext es erscheint von Kanada ansässiges geologisches Woulfe's Berater, Herrn Pat Stephenson, P. Geo, von AMC Mining Consultants (Canada) Ltd Stephenson hat die entsprechende Qualifikation und ausreichende einschlägige Erfahrung als Qualified Person für die Meldung von Explorations-Ergebnisse für die Sangdong Lagerstätte zu qualifizieren.
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jetzt müssen wir noch bis juni warten,dann wirds hier abgehen :)
....aus das wir bei der aktualisierten NI 43-101 Ressourcenschätzung eine böse Überraschung erleben werden. Ich vermute das diese Schätzung die Erwartungen bestätigt oder vielleicht noch etwas übertreffen wird. Korea Zinc (KZ) wird dann den Deal endgültig perfekt machen, quasi s.d.R. "von der Exclusivvereinbarung" Gebrauch machen, denn die Bekanntgabe der Schätzung war ja die bisher letzte - noch nicht erfüllte Bedingung für den Deal. Der Kurs sollte dann schon bald wieder anziehen, denn bis Ende Juni ist nicht mehr viel Zeit :-)
Alles nur meine Meinung und Vermutung!
Alles nur meine Meinung und Vermutung!
....der WOF-Handel heute in CAN von der "grünen Welle" anstecken lässt. Letzter Kurs gestern in CAN bei 0,255 CAN-Dollar. Kurz vor Börsenschluss ging sogar nochmal ein"verhältnismäßig großer Brocken" für 0,27 CAN-Dollar über den Tisch. Gestern wurden fast 800.000 Stücke gehandeln, vorallem in den letzten Handelsstunden....
Insgesamt sollte es doch ein Zeichen sein das der Kurs anzieht.....hoffentlich nicht schon wieder Strohfeuer, aber ich denke nicht denn der Juni naht mit großen Schritten :-)
Insgesamt sollte es doch ein Zeichen sein das der Kurs anzieht.....hoffentlich nicht schon wieder Strohfeuer, aber ich denke nicht denn der Juni naht mit großen Schritten :-)
kompletter Länge und in deutsch.....
www.pr-inside.com/...ert-erste-bohrergebnisse-aus-r2547552.htm
www.pr-inside.com/...ert-erste-bohrergebnisse-aus-r2547552.htm
hat wohl einen Kurzschluss...
nunja......
......bis Ende Juni ist der Glühdraht sicherlich repariert :-).....Der Glühdraht war wohl nicht aus Wolfram :-)
May 11, 2011
Woulfe Mining is pleased to provide an update on the feasibility study in progress on its Sangdong tungsten-molybdenum project in South Korea. The feasibility study is being undertaken by Wardrop (a Tetra Tech Company) UK. The structural design of crushing and grinding areas are well advanced and the process plant position has been locked in which will allow the civil design work to commence. The 5,000 metre drilling program announced in late 2010 has been completed and the results are being analysed, with a follow-up Phase 2 program proposed.
The detailed structural engineering design of the process plant is being undertaken by Contromation Energy Services of Jakarta in conjunction with Woulfe and Wardrop engineering. Representatives of Contromation visited Sangdong in April to inspect the site and discuss the plans with a Korean counterpart who will review the drawings for conformity with Korean design standards.
The civil design work will now commence. A geotechnical drilling proposal for the site has been prepared and a drilling rig utilised during the surface drilling campaign is on stand-by to undertake the geotechnical drilling. A Wardrop geotechnical/tailings specialist will be on site for a week during May to review the surface geotechnical program for both the plant site and the site of a proposed tailings dam. With respect to tailings, Woulfe's preference is to cement-fill the underground cavities, however, there may be a requirement for some surface storage facility particularly in the initial years.
The Phase 1 drilling program is now largely complete and the core is being logged and sampled, and the analytical results will be made available progressively. The results of the first two sample batches have been released to the market, and the results generally have been highly encouraging. It was anticipated that the high grade area of the Main Zone would be unmined in places and this has been confirmed with several holes intersecting this zone. As a result, a second phase of drilling is proposed to further define the remnant Main Zone, and also to confirm historical drill results for the Hangingwall Zone. The main vein was not included in the scoping study completed April 2010.
Brian Wesson, CEO/President of Woulfe, commented, "We have an experienced team on the ground in Korea who have opened the underground and have caught up delays over Christmas and New Year. Wardrop and Woulfe are working on the resource model for the infrastructure pillar targeting an updated NI43-101 mid year. The resource model update is needed to underpin the feasibility study due in the latter part 2011."
finance.yahoo.com/news/Woulfe-Mining-Corp-Sangdong-cc…
Woulfe Mining is pleased to provide an update on the feasibility study in progress on its Sangdong tungsten-molybdenum project in South Korea. The feasibility study is being undertaken by Wardrop (a Tetra Tech Company) UK. The structural design of crushing and grinding areas are well advanced and the process plant position has been locked in which will allow the civil design work to commence. The 5,000 metre drilling program announced in late 2010 has been completed and the results are being analysed, with a follow-up Phase 2 program proposed.
The detailed structural engineering design of the process plant is being undertaken by Contromation Energy Services of Jakarta in conjunction with Woulfe and Wardrop engineering. Representatives of Contromation visited Sangdong in April to inspect the site and discuss the plans with a Korean counterpart who will review the drawings for conformity with Korean design standards.
The civil design work will now commence. A geotechnical drilling proposal for the site has been prepared and a drilling rig utilised during the surface drilling campaign is on stand-by to undertake the geotechnical drilling. A Wardrop geotechnical/tailings specialist will be on site for a week during May to review the surface geotechnical program for both the plant site and the site of a proposed tailings dam. With respect to tailings, Woulfe's preference is to cement-fill the underground cavities, however, there may be a requirement for some surface storage facility particularly in the initial years.
The Phase 1 drilling program is now largely complete and the core is being logged and sampled, and the analytical results will be made available progressively. The results of the first two sample batches have been released to the market, and the results generally have been highly encouraging. It was anticipated that the high grade area of the Main Zone would be unmined in places and this has been confirmed with several holes intersecting this zone. As a result, a second phase of drilling is proposed to further define the remnant Main Zone, and also to confirm historical drill results for the Hangingwall Zone. The main vein was not included in the scoping study completed April 2010.
Brian Wesson, CEO/President of Woulfe, commented, "We have an experienced team on the ground in Korea who have opened the underground and have caught up delays over Christmas and New Year. Wardrop and Woulfe are working on the resource model for the infrastructure pillar targeting an updated NI43-101 mid year. The resource model update is needed to underpin the feasibility study due in the latter part 2011."
finance.yahoo.com/news/Woulfe-Mining-Corp-Sangdong-cc…
Woulfe Mining Sangdong Project High Grade Main Zone Confirmed by Drilling
May 17, 2011
Woulfe Mining announces drill results for the third batch of samples from the drilling program at its Sangdong tungsten-molybdenum project in South Korea. Of the seven holes reported here, one intersected the Main Zone and four intersected the Footwall Zone. The other two holes did not achieve their objectives for reasons reported below. The Main Vein intersection exceeded expectations with a true width of 18.3 metres at an average grade of 0.91% WO3.
Brian Wesson, CEO of Woulfe Mining stated, "The high grade, large intersection confirmed by this drilling is a significant as none of the main ore body was included in the scoping study resource. The drilling focused on the three ore zones above the valley floor that we are targeting for early low cost production during the first 10 years".
weiter: finance.yahoo.com/news/Woulfe-Mining-Sangdong-ccn-365…
May 17, 2011
Woulfe Mining announces drill results for the third batch of samples from the drilling program at its Sangdong tungsten-molybdenum project in South Korea. Of the seven holes reported here, one intersected the Main Zone and four intersected the Footwall Zone. The other two holes did not achieve their objectives for reasons reported below. The Main Vein intersection exceeded expectations with a true width of 18.3 metres at an average grade of 0.91% WO3.
Brian Wesson, CEO of Woulfe Mining stated, "The high grade, large intersection confirmed by this drilling is a significant as none of the main ore body was included in the scoping study resource. The drilling focused on the three ore zones above the valley floor that we are targeting for early low cost production during the first 10 years".
weiter: finance.yahoo.com/news/Woulfe-Mining-Sangdong-ccn-365…
Markt es genauso.Umsätze sind noch etwas dünn kann aber in laufe des Abends noch kommen!
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