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Woulfe Mining Announces Significant Assay Results from Sangdong Drill Program

Published on May 5, 2012 at 3:00 AM

By Joel Scanlon

Woulfe Mining has reported assay results for samples obtained from the drill campaign at Sangdong.

The company is drilling from the underground sites at Sangdong and the results will be utilized to revise the resource estimate. This set of assay results includes 16 holes, among this 7 were drilled from elevations between 1 Level and Sangdong Level and 9 were drilled from Sangdong Level. Majority of these holes were quite short and measure 30 to 50 m in length, targeting the Footwall Zones between Taebaek Level and 1 Level. Two holes were drilled longer to analyze all the three zones, but both these holes were terminated at the Main Zone after encountering inclined regions.

Major Footwall Zone intersections comprise 13.1 m actual thickness at 0.60% WO3, including 4.5 m actual thickness at 0.85% WO3, and 6.9 m actual thickness at 0.52% WO3. One drill hole encountered the Hangingwall zone with an intersection of 7.3 m actual thickness at 0.35% WO3.

In the mine’s upper portion above the existing water level, the drill campaign is focusing on the unmined mineralisation for feasibility reserve estimation and mine planning purposes. The resource for this mine portion was re-estimated subsequent to the conclusion of 90 holes in the ongoing drill campaign, resulting in an inferred resource of 19.4 M t at 0.44% WO3, 0.05% MoS2 and indicated resource of 16.4 M t at 0.45% WO3, 0.04% MoS2 at a cut-off grade of 0.15% WO3. The resource beneath the valley floor is 34.519 M t at 0.47% WO3, 0.07% MoS2 at a cut off grade of 0.15% WO3.

The samples have been dispatched to SGS Perth, Australia for testing.

Source: http://www.woulfemining.com/

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