Woulfe Mining (Wolfram, Molybden, Gold)
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Woulfe Mining wird in der kommenden Woche Donnerstag, 26. Mai um 18.30 Uhr ein kostenloses WebMeeting abhalten. Es wird vor allem um die letzten Bohrergebnisse gehen, gern können aber auch anderweitige Fragen gestellt werden. Wie auch in der Vergangenheit ist eine anonyme Einwahl möglich.
Die WebKonferenz wird aufgrund der Zeitverschiebung von Nick Smith durchgeführt. Nick Smith ist der Investor Relations Officer von Woulfe Mining und in Kanada & USA ansässig.
Der Einwahllink ist der nachfolgende Link:
https://eu42.spreed.com/checkin/jc/536780814
Bitte diesen Link in Ihren Browser kopieren.
Mit besten Grüßen
Eva Reuter
Aktuell kämen News zu Gold sicher gut an. Mal sehen, alles in Allem ist Woulfe immer noch sehr zurückhaltend was News angeht.
Meine Meinung, keine Empfehlung.
Symbol Price Change
WOF.V 0.2650 +0.01
{"s" : "wof.v","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Press Release Source: Woulfe Mining Corp. On Wednesday June 1, 2011, 9:00 am EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2011) - Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF - News) is pleased to announce assay results for the fourth batch of nine batches of samples associated with the now completed drill program. As previously announced, the drilling program targeted the unmined mineralisation in the upper section of the mine above the current water level for mine planning and feasibility reserve estimation purposes.
The tungsten-molybdenum mineralisation at Sangdong is hosted within three parallel, shallow-dipping skarn zones (Main, Hangingwall and Footwall) with a lateral extent of up to 1,200 metres along strike and 1,500 metres down dip.
The work programme is focused on upgrading part of the current NI 43-101 compliant Inferred Resource to an Indicated Resource that in turn has sufficient confidence to be converted to a mineral reserve as part of the feasibility study to be completed later in the year. The four batches reported today have returned very encouraging grades of tungsten (WO3) and MoS2. The updated NI 43-101 resource estimate is targeted for release at the end of June 2011. Woulfe has commissioned Wardrop Engineering to produce the new resource estimate and complete the feasibility study, and has also engaged AMC Mining Consultants (Canada) Ltd as geological advisors.
The 2010 March Wardrop Engineering Scoping Study produced an Inferred Resource of 103.6 million tonnes at 0.35% WO3, 0.04% MoS2 at a cut-off of 0.1% WO3. This resource modelled the group of Footwall mineralised zones as a combined unit and the Hangingwall Zone as another unit. Any remaining mineralisation from the Main Zone was not included. This resource was classified as Inferred primarily because of reliance on the historical underground drilling. The current surface and underground drilling programmes will improve confidence in the estimate, potentially allowing it to be classified as Indicated Resources.
The recent drilling results are summarised as below:
Main Zone (The Main Zone was not included in NI43-101 resources March 2010) Hole Number WSDD0014 -------------------------------------------------- Interval Length True Width Grade Grade Hole ID (m) (m) (m) (%WO3) (%MoS2) Zone--------------------------------------------------Intersection 4.5-50.0 45.5 41.2 0.61 0.06 Main--------------------------------------------------Includes 4.5-11.0 6.5 5.9 1.89 0.05 Main--------------------------------------------------Includes 13.0-18.0 5.0 4.5 0.46 0.03 Main--------------------------------------------------Includes 21.0-28.0 7.0 6.3 0.88 0.06 Main--------------------------------------------------Includes 42.5-48.0 5.5 5.0 0.38 0.10 Main--------------------------------------------------Location- collar 4111548N, 485123E, Azimuth 48, Dip +40, Depth 87m, Target Main, H/W -------------------------------------------------- Hole WSDD0024 -------------------------------------------------- Interval Length True Width Grade Grade Hole ID (m) (m) (m) (%WO3) (%MoS2) Zone--------------------------------------------------Intersection 0.0-10.0 10.0 9.4 0.65 0.06 Main--------------------------------------------------includes 4.0-10.0 6.0 5.6 0.86 0.08 Main--------------------------------------------------Location WSDD0024 - Collar 4111510N, 485320E, Azimuth 350, Dip +45, Depth 69m, Target Main,H/W -------------------------------------------------- Hole WSDD0020 -------------------------------------------------- Interval Length True Width Grade Grade Hole ID (m) (m) (m) (%WO3) (%MoS2) Zone--------------------------------------------------Intersection 16.5-23.0 6.5 2.9 0.41 0.12 Main--------------------------------------------------Location Collar 4111491N, 485296E, Azimuth 162, Dip+51, Depth 80m, Target Main, H/W-------------------------------------------------- Hangingwall Zone Hole WSDD0024 -------------------------------------------------- Interval Length True Width Grade Grade Hole ID (m) (m) (m) (%WO3) (%MoS2) Zone--------------------------------------------------Second intersection 39.0-50.0 11.0 10.3 0.23 0.10 Hangingwall--------------------------------------------------Location Collar 4111510N, 485320E, Azimuth 350, Dip +45, Depth 69m, Target Main, H/W -------------------------------------------------- Hole WSDD0035 -------------------------------------------------- True Interval Length Width Grade Grade Hole ID (m) (m) (m) (%WO3) (%MoS2) Zone--------------------------------------------------Intersection 157.5-163.0 5.5 4.5 0.65 0.14 Hangingwall--------------------------------------------------Location 4111716N, 484911E, Azimuth 43, Dip -80, Depth 220m, Target All -------------------------------------------------- Footwall Zones Hole Number WSDD0007 -------------------------------------------------- Interval Length True Width Grade Grade Hole ID (m) (m) (m) (%WO3) (%MoS2) Zone--------------------------------------------------Intersection 41.5-74.5 33.0 25.3 0.26 0.01 Footwall--------------------------------------------------includes 41.5-46.0 4.5 3.4 0.52 0.01 Footwall--------------------------------------------------includes 54.5-58.0 3.5 2.7 0.47 0.00 Footwall--------------------------------------------------includes 66.0-74.5 8.5 6.5 0.32 0.03 Footwall--------------------------------------------------Location WSDD0007 - Collar 4111502N, 485221E, Azimuth 134, Dip -25, Depth 85m, Target F/W --------------------------------------------------
Significant drill intercepts, defined as any mineralisation of 1 metre lengths or longer, are presented in the tables above. A cut-off of 0.15% WO3 was used for the intersection calculations.
To date the two best intersections in the Main Zone are WSDD0014, 45.5 metres (true width 41.2 metres) at an average grade of 0.61% WO3 and WSDD0015, with an intersection of 39.0 metres (true width 18.3 metres) at an average grade of 0.91% WO3.
The initial drilling program has been completed. The reopening of the levels above One Level, that is the area targeted for initial mine production, has identified large areas that have not been drilled in the Main and Hangingwall Zones. A second drilling program is now planned to explore the potential of these areas. These holes may be used for the updated NI 43-101 resource estimate planned for completion at the end of June if the results are available in time.
The samples are prepared on-site in Korea to appropriate industry standards and sent to SGS Perth, Australia for analysis. Samples are analysed by Inductively Coupled Plasma Mass Spectrometry (ICP) and for ore-grade quantities of specific elements by aqua regia or 4-acid digestion followed by ICP analysis. Molybdenum is analysed by X-ray fluorescence. The QA/QC protocol comprises insertion of one standard, one blank (crushed glass) and one pulp duplicate in every batch of 20 samples. No QA/QC results are available as yet.
This news release has been reviewed and approved in the form and context in which it appears by Mr Paul Gribble FIMMM, C.Eng, of Wardrop, who is working with Woulfe on the Sangdong studies. Mr Gribble has appropriate qualifications and sufficient relevant experience to qualify as a Qualified Person for the reporting of exploration results for the Sangdong deposit.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson (FAusIMM), President, CEO and Director
About Woulfe Mining Corp.
Woulfe Mining Corp. is a TSX-V listed company with a diversified portfolio of mining licenses for tungsten, molybdenum, gold, base metals and uranium-vanadium in South Korea.
The company's current projects include the Sangdong tungsten-molybdenum mine, historically, one of the largest tungsten mines in the world; the Muguk gold-silver mine, formerly South Korea's largest gold mine, as well as a number of other properties with significant known mineralization and excellent regional exploration potential.
Woulfe has high expectations for near-term, low-cost production. The company has assembled a highly skilled, in-country, bilingual technical team and a board of directors with an outstanding track record of success.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information and even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: commodity price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative nature of mineral exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the appropriate regulatory authorities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Nick SmithWoulfe Mining Corp.Mobile phone +1 (415) 595-0865nsmith@woulfemining.comAdministration OfficeWoulfe Mining Corp.+1 604 684 6264+1 604 684 6242 (FAX)info@woulfe.com.auwww.woulfemining.com
Mal gespannt. Ende Juni war doch eine Meldung angekündigt.
Keine Empfehlung, nur meine Meinung.
Woulfe Mining Drill Results Support Early Start-Up Proposal
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2011) - Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF) is pleased to announce assay results for the fifth of nine batches of samples associated with the now completed drilling program at Sangdong. The tungsten-molybdenum mineralisation at Sangdong is hosted within three parallel, shallow-dipping skarn zones (Main, Hangingwall and Footwall) with a lateral extent of up to 1,200 metres along strike and 1,500 metres down dip.
Highlight of the results include 3.9 metres (true width) of 2.33% WO3 in the Main Zone and 10.8 metres (true width) of 0.51% WO3 in the Footwall Zone.
The recent drilling results are summarised as below:
Main Zone
(The Main Zone was not included in NI43-101 resources March 2010)
Hole WSDD0013
Hole ID Interval (m) Length (m) True Width (m) Grade (%WO3) Grade (%MoS2) Zone
Intersection 77.0-93.5 16.5 12.4 0.70 0.02 Main
includes 82.0-84.5 2.5 1.9 1.46 0.02 Main
includes 91.5-93.5 2.0 1.5 2.51 0.06 Main
Location Collar 4111465N, 485042E, Azimuth 87, Dip +38, Depth 150m, Target All
Hole Number WSDD0003
Hole ID Interval (m) Length (m) True Width (m) Grade (%WO3) Grade (%MoS2) Zone
Intersection 17.5-39.0 21.5 13.7 0.45 0.03 Main
Includes 19.0-21.5 2.5 1.6 0.96 0.02 Main
Includes 26.0-34.0 8.0 5.1 0.57 0.04 Main
Includes 37.0-38.5 1.5 1.0 0.98 0.06 Main
Location- collar 4111510N, 485167E, Azimuth 49, Dip +17, Depth 108m, Target Main, H/W
Hole WSDD0018
Hole ID Interval (m) Length (m) True Width (m) Grade (%WO3) Grade (%MoS2) Zone
Intersection 89.5-101.0 11.5 8.9 1.15 0.08 Main
includes 96.0-101.0 5.0 3.9 2.33 0.10 Main
Location Collar 4111502N, 484921E, Azimuth 310, Dip+47, Depth 104m, Target All
Hole WSDD0021
Hole ID Interval (m) Length (m) True Width (m) Grade (%WO3) Grade (%MoS2) Zone
Intersection 10.0-13.5 3.5 3.3 0.59 0.05 Main
Location Collar 4111496N, 485292E, Azimuth 352, Dip+54, Depth 71m, Target Main, H/W
Footwall Zones
Hole WSDD0013
Hole ID Interval (m) Length (m) True Width (m) Grade (%WO3) Grade (%MoS2) Zone
Intersection 14.5-26.0 11.5 8.6 0.73 0.02 Footwall
includes 17.0-20.0 3.0 2.2 1.47 0.02 Footwall
Intersection 67.5-70.5 3.0 2.2 0.44 0.01 Footwall (1)
Location Collar 4111465N, 485042E, Azimuth 87, Dip +38, Depth 150m, Target All
Hole WSDD0018
Hole ID Interval (m) Length (m) True Width (m) Grade (%WO3) Grade (%MoS2) Zone
Intersection 4.0-18.0 14.0 10.8 0.51 0.02 Footwall
includes 16.5-18.0 1.5 1.2 2.20 0.08 Footwall
Location Collar 4111502N, 484921E, Azimuth 310, Dip+47, Depth 104m, Target All
Hangingwall Zone
Hole Number WSDD0003
Hole ID Interval (m) Length (m) True Width (m) Grade (%WO3) Grade (%MoS2) Zone
Intersection 75.0-87.0 12.0 7.6 0.37 0.08 Hangingwall
includes 77.5-86.5 9.0 5.7 0.40 0.09 Hangingwall
Location- collar 4111510N, 485167E, Azimuth 49, Dip +17, Depth 108m, Target Main, H/W
Hole WSDD0013
Hole ID Interval (m) Length (m) True Width (m) Grade (%WO3) Grade (%MoS2) Zone
Intersection 146.5-149.0 2.5 1.9 0.32 0.01 Hangingwall
Location Collar 4111465N, 485042E, Azimuth 87, Dip +38, Depth 150m, Target All
Hole WSDD0021
Hole ID Interval (m) Length (m) True Width (m) Grade (%WO3) Grade (%MoS2) Zone
Intersection 50.5-52.5 2.0 1.9 0.25 0.20 Hangingwall
Location Collar 4111496N, 485292E, Azimuth 352, Dip+54, Depth 71m, Target Main, H/W
Significant drill intercepts, defined as any mineralisation of 1 metre lengths or longer, are presented in the tables above. A cut-off of 0.15% WO3 was used for the intersection calculations.
The drilling program targeted the unmined mineralisation in the upper section of the mine above the current water level for mine planning and feasibility reserve estimation purposes. The 2010 March Wardrop Engineering Scoping Study produced an Inferred Resource of 103.6 million tonnes at 0.35% WO3, 0.04% MoS2 at a cut-off of 0.1% WO3. This resource modelled the group of Footwall mineralised zones as a combined unit and the Hangingwall Zone as another unit. Any remaining mineralisation from the Main Zone was not included. It should be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.
The fifth batch comprised four holes all of which intersected the Main Zone. WSDD0013 intersected 16.5 metres (true width 12.4 metres) at an average grade of 0.70% WO3 and WSDD0003 intersected 21.5 metres (true width 13.7 metres) at an average grade of 0.45% WO3. WSDD0018 intersected 11.5 metres (true width 8.9 metres) at an average grade of 1.15% WO3 before being abandoned due to a cavity, most likely a Main Zone working.
The samples are prepared on-site in Korea to appropriate industry standards and sent to SGS Perth, Australia for analysis. Samples are analysed by Inductively Coupled Plasma Mass Spectrometry (ICP) and for ore-grade quantities of specific elements by aqua regia or 4-acid digestion followed by ICP analysis. Molybdenum is analysed by X-ray fluorescence. The QA/QC protocol comprises insertion of one standard, one blank (crushed glass) and one pulp duplicate in every batch of 20 samples. No QA/QC results are available as yet.
This news release has been reviewed and approved in the form and context in which it appears by Mr. Paul Gribble FIMMM, C.Eng, of Wardrop Engineering, a Tetra Tech company,, who is working with Woulfe on the Sangdong studies. Mr. Gribble has appropriate qualifications and sufficient relevant experience to qualify as a Qualified Person for the reporting of exploration results for the Sangdong deposit.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson (FAusIMM), President, CEO and Director
About Woulfe Mining Corp.
Woulfe Mining Corp. is a TSX-V listed company with a diversified portfolio of mining licenses for tungsten, molybdenum, gold, base metals and uranium-vanadium in South Korea.
The company is focused on the development of the Sangdong tungsten mine (one of the World's largest and most renowned tungsten mine for 40 years). This property has substantial value for our shareholders given the outcome of the scoping study in March 2010 that determined that the project NPV was US$467 million at a commodity price of $2500 per tonne Ammonium Paratungstate (APT). Today, the APT price is over US$45,000 per tonne. Given the robust project and market, Woulfe has accelerated the project. An updated resource statement is due at the end of June and detailed design, final construction permitting and feasibility will be complete year end. The company's target is to move to production towards the end of 2012. The current market for tungsten and molybdenum is very strong with Taegutec (a global manufacturer) close on doubling production in Korea of powders and finished tungsten goods. There is also a large shortage in markets especially outside China. It is believed that China is moving from being a major exporter of tungsten to a net importer as tungsten is a high level strategic metal needed for most manufacture and high tech applications in developing technologies.
In the last 18 months the company has focused on building the Sangdong tungsten mine team and opening the mine. The project is well staffed with professionals and is moving forward rapidly. Woulfe Corporate has now turned its focus to the Muguk gold project, historically Korea's largest gold mine. In 1998, Muguk was reported by Korea Resources Corporation (KORES) to contain a combined resource of 1,418,980 tonnes @ 13.5 g/t gold, 72.8 g/t silver (615,956 oz gold and 3,321,599 oz silver). Woulfe cautions that a Qualified Person has not done sufficient work to classify the historical estimate as current, that it is not treating the historical estimate as current and that the historical estimate should not be relied upon. A drill campaign is starting drilling the down dip extensions of the Three Brothers Vein in June 2011. Woulfe's other projects will be considered once these two projects are moving to production, in order to unlock value for shareholders and to move the company to a positive cash flow as quickly as possible.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information and even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: commodity price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative nature of mineral exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the appropriate regulatory authorities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Jun. 16, 2011 (PR Newswire) --
NEW YORK, June 16, 2011 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), the financial information and technology services company that provides the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, today announced that Woulfe Mining Corp (TSX.V: WOF; OTCQX: WFEMF), a resource company largely focused in the South Korean mining industry, is now trading on the highest tier of the OTC market, OTCQX®.
(Logo: http://photos.prnewswire.com/prnh/20110118/MM31963LOGO )
Woulfe Mining began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.
"The OTCQX platform supports a transparent marketplace with high quality issuers, financial information disclosure and efficient trading for U.S. investors," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Woulfe Mining to OTCQX."
Dorsey & Whitney LLP will serve as Woulfe Mining's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.
Jun. 24, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)(OTCQX:WFEMF) is pleased to announce assay results for batches six and seven of samples associated with the now completed phase 1 drilling program at Sangdong. The tungsten-molybdenum mineralisation at Sangdong is hosted within three parallel, shallow-dipping skarn zones (Main, Hangingwall and Footwall) with a lateral extent of up to 1,200 metres along strike and 1,500 metres down dip.
Highlights of the results include 17.3 metres (true width) of 0.87% WO3 in the Hangingwall Zone, 8.0 metres (true width) of 0.99% WO3 in the Main Zone and 8.2 metres (true width) of 0.68% WO3 in the Footwall Zone.
The recent drilling results are summarised as below:
Main Zone
(The Main Zone was not included in NI43-101 resources March 2010)
Hole Interval (m) Length (m) True Width (m) Grade (%WO 3 ) Grade (%MoS 2 ) Zone
Hole SD 97 Collar 4112085N, 484505E, Azimuth 95, Dip -77, Depth 310m, Target H/W, Main, F/W
Intersection 302.0-310.0 8.0 8.0 0.99 0.05 Main
includes 302.0-307.0 5.0 5.0 1.46 0.07 Main
SD 95 Collar 4111816N, 484362E, Azimuth 36, Dip -68, Depth 280m, Target H/W, Main, F/W
Intersection 201.0-211.0 10.0 6.8 0.38 0.02 Main
includes 201.0-202.5 1.5 1.0 0.61 0.02 Main
includes 205.5-207.5 2.0 1.4 0.81 0.09 Main
SD 93 Collar 4112027N, 484387E, Azimuth 165, Dip -75, Depth 294m, Target H/W, Main, F/W
Intersection 242.5-250.0 7.5 7.5 0.33 0.02 Main
SD 98 Collar 4112027N, 484388E, Azimuth 132, Dip-74, Depth 325m, Target H/W, Main, F/W
Intersection 244.0-246.0 2.0 2.0 0.37 0.01 Main
WSDD0026 Collar 4111510N, 485320E, Azimuth 315, Dip -55, Depth 98m, Target Main, F/W
Intersection 0.0-2.0 2.0 1.4 0.86 0.08 Main
Footwall Zones
Hole Interval (m) Length (m) True Width (m) Grade (%WO 3 ) Grade (%MoS 2 ) Zone
SD 95 Collar 4111816N, 484362E, Azimuth 36, Dip -68, Depth 280m, Target H/W, Main, F/W
Intersection 219.0-220.5 1.5 1.0 0.49 0.0 F/W (1)
Intersection 252.0-264.0 12.0 8.2 0.68 0.00 F/W
includes 252.0-257.5 5.5 3.8 0.86 0.00 F/W
WSDD0027 Collar 4111481N, 484984E, Azimuth 44, Dip +31, Depth 75m, Target F/W, Main
Intersection 10.0-29.0 19.0 15.6 0.36 0.01 F/W
includes 12.0-16.5 4.5 3.7 0.49 0.00 F/W
includes 20.5-25.5 5.0 4.1 0.56 0.02 F/W
SD 98 Collar 4112027N, 484388E, Azimuth 132, Dip-74, Depth 325m, Target H/W, Main, F/W
Intersection 280.0-286.0 6.0 6.0 0.56 0.02 F/W
Intersection 303.5-309.0 5.5 5.5 0.30 0.08 F/W
includes 306.0-309.0 3.0 3.0 0.43 0.13 F/W
SD 93 Collar 4112027N, 484387E, Azimuth 165, Dip -75, Depth 294m, Target H/W, Main, F/W
Intersection 274.0-277.5 3.5 3.5 0.50 0.00 F/W
Intersection 283.0-288.5 5.5 5.5 0.37 0.04 F/W
WSDD0026 Collar 4111510N, 485320E, Azimuth 315, Dip -55, Depth 98m, Target Main, F/W
Intersection 75.5-77.0 1.5 1.1 0.41 0.06 F/W
Hangingwall Zone
Hole Interval (m) Length (m) True Width (m) Grade (%WO 3 ) Grade (%MoS 2 ) Zone
SD 92 Collar 4111716N, 484911E, Azimuth 223, Dip -77, Depth 190m, Target H/W
Intersection 156.0-174.0 18.0 17.3 0.88 0.09 H/W
includes 156.0-160.5 4.5 4.3 1.14 0.24 H/W
includes 162.0-170.0 8.0 7.7 1.19 0.06 H/W
SD 97 Collar 4112085N, 484505E, Azimuth 95, Dip -77, Depth 310m, Target H/W, Main, F/W
Intersection 269.0-281.0 12.0 12.0 0.55 0.05 H/W
includes 271.5-274.5 3.0 3.0 1.10 0.07 H/W
includes 277.0-280.0 3.0 3.0 0.66 0.06 H/W
SD 95 Collar 4111816N, 484362E, Azimuth 36, Dip -68, Depth 280m, Target H/W, Main, F/W
Intersection 154.5-156.0 1.5 1.0 0.44 0.01 H/W
Intersection 162.0-169.5 7.5 5.1 0.30 0.03 H/W
Intersection 173.5-176.5 3.0 2.0 0.32 0.08 H/W
SD 98 Collar 4112027N, 484388E, Azimuth 132, Dip-74, Depth 325m, Target H/W, Main, F/W
Intersection 215.5-217.0 1.5 1.5 0.63 0.05 H/W
SD 93 Collar 4112027N, 484387E, Azimuth 165, Dip -75, Depth 294m, Target H/W, Main, F/W
Intersection 154.0-155.5 1.5 1.5 0.30 0.01 H/W
Significant drill intercepts, defined as any mineralisation of 1 metre lengths or longer, are presented in the tables above. A cut-off of 0.15% WO3 was used for the intersection calculations.
The drilling program targeted the unmined mineralisation in the upper section of the mine above the current water level for mine planning and feasibility reserve estimation purposes. The 2010 March Wardrop Engineering Scoping Study produced an Inferred Resource of 103.6 million tonnes at 0.35% WO3, 0.04% MoS2 at a cut-off of 0.1% WO3. This resource estimate modelled the group of Footwall mineralised zones as a combined unit and the Hangingwall Zone as another unit. Any remaining mineralisation from the Main Zone was not included. The intersection summaries shown above may also group mineralised zones within the overall Footwall zone.
Batches six and seven of assay results comprised seven holes, of which five were surface holes, four of which were drilled to define the western margin of the deposit. The fifth surface hole (SD 92) located in the central portion of the deposit to define the Hangingwall Zone intersected 17.3 metres true width at 0.87% WO3. Other significant intersections include 8.0 metres true width at 0.99% WO3 (SD 97) in the Main Zone, 8.2 metres true width at 0.68% WO3 (SD 95) and 15.6 metres true width at 0.36% WO3 (WSDD0027) in the Footwall Zone, and 12.0 metres true width at 0.56% WO3 (SD 97) in the Hangingwall Zone.
The samples are prepared on-site in Korea to appropriate industry standards and sent to SGS Perth, Australia for analysis. Samples are analysed by Inductively Coupled Plasma Mass Spectrometry (ICP) and for ore-grade quantities of specific elements by aqua regia or 4-acid digestion followed by ICP analysis. Molybdenum is analysed by X-ray fluorescence. The QA/QC protocol comprises insertion of one standard, one blank (crushed glass) and one pulp duplicate in every batch of 20 samples. No QA/QC results are available as yet.
This news release has been reviewed and approved in the form and context in which it appears by Mr Paul Gribble FIMMM, C.Eng, of Wardrop, who is working with Woulfe on the Sangdong studies.Mr Gribble has appropriate qualifications and sufficient relevant experience to qualify as a Qualified Person for the reporting of exploration results for the Sangdong deposit.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson (FAusIMM), President, CEO and Director
About Woulfe Mining Corp.
Woulfe Mining Corp. is a TSX-V listed company with a diversified portfolio of mining licenses for tungsten, molybdenum, gold, base metals and uranium-vanadium in South Korea.
The company is focused on the development of the Sangdong tungsten mine (one of the World's largest and most renowned tungsten mine for 40 years). This property has substantial value for our shareholders given the outcome of the scoping study in March 2010 that determined that the project NPV was US$467 million at a commodity price of $2500 per tonne Ammonium Paratungstate (APT). Today, the APT price is over US$45,000 per tonne. Given the robust project and market, Woulfe has accelerated the project. An updated resource statement is due at the end of June and detailed design, final construction permitting and feasibility will be complete year end. The company's target is to move to production towards the end of 2012. The current market for tungsten and molybdenum is very strong with Taegutec (a global manufacturer) close on doubling production in Korea of powders and finished tungsten goods. There is also a large shortage in markets especially outside China. It is believed that China is moving from being a major exporter of tungsten to a net importer as tungsten is a high level strategic metal needed for most manufacture and high tech applications in developing technologies.
In the last 18 months the company has focused on building the Sangdong tungsten mine team and opening the mine. The project is well staffed with professionals and is moving forward rapidly. Woulfe Corporate has now turned its focus to the Muguk gold project, historically Korea's largest gold mine. In 1998, Muguk was reported by Korea Resources Corporation (KORES) to contain a combined resource of 1,418,980 tonnes @ 13.5 g/t gold, 72.8 g/t silver (615,956 oz gold and 3,321,599 oz silver). Woulfe cautions that a Qualified Person has not done sufficient work to classify the historical estimate as current, that it is not treating the historical estimate as current and that the historical estimate should not be relied upon. A drill campaign is starting drilling the down dip extensions of the Three Brothers Vein in June 2011. Woulfe's other projects will be considered once these two projects are moving to production, in order to unlock value for shareholders and to move the company to a positive cash flow as quickly as possible.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information and even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: commodity price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative nature of mineral exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the appropriate regulatory authorities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Woulfe Mining Corp.
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Quelle:http://tmx.quotemedia.com/article.php?newsid=42451647&qm_sym…
Brian Wesson CEO/President of Woulfe added, “The APT price has increased substantially over the past 6 months so we are working as hard and fast as possible to bring Sangdong back into production. The recent drilling confirms the historical data and the results have mostly been very encouraging. We are pushing ahead with the pre-feasibility and full feasibility studies in parallel and an updated resource estimate will be released shortly. We look forward to updating the market as we achieve these goals.”
Q3 2011
Woulfe is currently conducting a 19 hole geotechnical drill program focused on testing the characteristics of the site. This site investigation will finalise the process plant layout and allow the detailed civil engineering to move forward.
The construction application and land lease documentation will be submitted to the county by the end of June. These applications complete the process to secure the land and permissions required to move to construction. Woulfe expects the submissions to be considered favourably by the county as we have been working closely together to move the project forward as quickly as possible.
The phase one drilling program carried out from January to May 2011 focused on the areas above the valley floor to verify the historical data and to upgrade sufficient resources to support the pre-feasibility study. Phase one was successfully completed and a subsequent drilling program is underway targeting the unmined Hangingwall and Footwall mineralised zones on Level 1 and above and the main mineralised zone above the Sangdong Level. Wardrop Engineering UK, a Tetra Tech company, have personnel on the ground in South Korea and are focused on completing the prefeasibility study and updating the current NI43-101 resource estimate for release in Q3 2011.
The phase two drilling program will be completed by the end of September, 2011. This program will target additional high grade zones in the main zone and the extensive footwall zone above Level 1.
To accelerate project construction, Woulfe in conjunction with its external consultants is moving ahead with detailed design of the operation. The crushing and grinding sections of the process plant are well advanced and all major pieces of equipment specified. The crusher design is for 2.4 million tonnes per annum and the initial milling capacity will be 1.2 million tonnes per annum, but can be readily expanded to 2.4 million tonnes. The design has been progressed to allow tenders to be called for the front end of the plant. This will provide definitive construction costs for feasibility work and demonstrate the comparative cost advantage in South Korea. The design of the upgrade has been included as there is a real prospect that the tungsten markets will remain strong and could justify the increase in production. The price of molybdenum might also return to historical highs. The molybdenum content in the Sangdong mineralised zones ranges from 0.04 to 0.06% MoS2 and an additional zone of molybdenum mineralisation, as outlined by historical drilling, lies below the Sangdong mineralised zones.
Woulfe will be shipping one tonne of drill core to Canada for metallurgical testing and finalising the process flow sheet. The flow sheet will be simple and conventional, with two stage crushing followed by rod mill grinding and flotation, with the tungsten concentrate further processed to produce APT; all well-established proven technologies. Sangdong was a world leader in tungsten production for many years, initially producing synthetic scheelite and later APT on site. By products included molybdenum and bismuth.
Q4 2011
Woulfe is assessing several options to finance the project. The 2010 scoping study capital cost estimate to build the operation was US$269 million based on a greenfields site. The pre-feasibility estimate is expected to be lower, based on the brownfields site and the comparative construction cost advantages in South Korea. The project is forecast to generate strong cash flows which will make funding reasonably easy to conclude in Q4 2011.
Funding is likely to be in the form of a cash component and debt. The cash component will minimise dilution through strategic partnerships and off-take agreements. Once the pre-feasibility study is completed, the Company will be in a position to complete the financing.
Woulfe will continue to secure major items of equipment, such as the new crushing circuit, and expects to make announcements regarding the mills and other major purchases throughout the year.
The feasibility study to be completed later this year will be the final document prior to construction as the full detailed design will have been completed prior to this document coming out. This document will be based on actual design and tendered construction packages. Earthworks are scheduled to start in December 2011.
2012
Woulfe plans to commission the Sangdong mine in 2012 at an initial production rate of 1.2 million tonnes per annum. As the Company achieves the milestones outlined above, a definitive production date will be determined and communicated to shareholders. Commissioning is currently expected in Q4 2012.
Brian Wesson CEO/President of Woulfe added “I believe the team we have assembled has the ability to achieve these goals as outlined. We continue to drive this project forward aggressively to achieve maximum value for all Woulfe shareholders”.
On Behalf of the Board of Directors
Woulfe Mining Corp.
“Brian Wesson”
BrianWesson
6/28/2011 12:13:19 PM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Jun 28, 2011 (Marketwire via COMTEX News Network) --
Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)(OTCQX:WFEMF) is pleased to announce the completion of major milestones towards bringing the Sangdong tungsten and molybdenum project into production in 2012. Woulfe's aggressive timeline to have the mine commissioned and in production in 2012 requires many initiatives to be worked on in parallel by multiple teams.
Brian Wesson CEO/President of Woulfe added, "The APT price has been increased substantially over the past 6 months so we are working as hard and fast as possible to get Sangdong back into production. The recent drilling confirms the historical data and the results have all been above resource grade. We are pushing ahead with the pre-feasibility and full feasibility in parallel with an updated resource estimate coming shortly. We look forward to updating the market as we achieve these goals."
Woulfe has successfully completed a 19 hole geotechnical drill program focused on testing the characteristics of the plant site. This site investigation will finalise the process plant layout and allow the detailed civil engineering to move forward.
Following the satisfactory completion of the geotech drilling, the application for land lease and purchase of the plant site was submitted to the county on June 7, 2011. The construction application will be submitted to the county promptly following the grant of permit on the land lease and purchase. Woulfe expects the submissions to be considered favourably by the county as we have been working closely with the county officials to move the project forward as quickly as possible.
In addition the application for land lease for new production six metre portal and decline to ore was submitted on June 7. Woulfe expects the permit on the land lease for new adit to be granted by the end of June.
Mr. Wesson added, "I believe the team we have assembled has the ability to achieve the aggressive plan and goals as outlined. We continue to drive this project forward to achieve maximum value for Woulfe Mining shareholders."
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson (FAusIMM), President, CEO and Director
About Woulfe Mining Corp.
Woulfe Mining Corp. is a TSX-V listed company with a diversified portfolio of mining licenses for tungsten, molybdenum, gold, base metals and uranium-vanadium in South Korea.
The company's current projects include the Sangdong tungsten-molybdenum mine, historically, one of the largest producing tungsten mines in the world; the Muguk gold-silver mine, formerly South Korea's largest gold mine, as well as a number of other properties with significant known mineralization and excellent regional exploration potential.
Woulfe has high expectations for near-term, low-cost production. The company has assembled a highly skilled, in-country, bilingual technical team and a board of directors with an outstanding track record of success.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information and even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: commodity price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative nature of mineral exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the appropriate regulatory authorities.
SOURCE: Woulfe Mining Corp.
Renmark Financial Communications
Barbara Komorowski
+1 (514) 939-3989
bkomorowski@renmarkfinancial.com
Nicola Street Capital
Nick Smith
Mobile Phone: +1 (415) 595-0865
nsmith@nicolastreetcapital.com
Woulfe Mining Corp.
Administration Office
+1 604 684 6264
+1 604 684 6242(FAX)
info@woulfe.com.au
www.woulfemining.com
Woulfe Mining Requests Quotation for Crushing and Grinding Plant at Sangdong
VANCOUVER, BRITISH COLUMBIA, Jul 06, 2011 (MARKETWIRE via COMTEX) -- Woulfe Mining Corp. ("Woulfe" or the "Company") (tsx venture:WOF)(otcqx:WFEMF) in conjunction with Contromation Indonesia and Wardrop Engineers is proud to announce that the first design package for the ore crushing and grinding system for the Sangdong tungsten and molybdenum Project has been completed and is ready for initial quotation. The design package has been issued to reputable heavy engineering companies in South Korea for quotation.
This is a substantial milestone for Woulfe as it will provided real construction costs in South Korea for the pre-feasibility and feasibility studies due out in Q3 and Q4 2011, respectively.
The system is designed to crush ore at a rate of 2.4 million tonnes per annum and grind initially at 1.2 million tonnes per annum. There is the potential to increase the grinding rate if the tungsten market remains strong and/or the price of molybdenum increases. Two rod mills will be installed and a third could be added should circumstances prove viable for increasing the grinding rate.
Woulfe has a resource of 103.2 million tonnes at 0.35% WO3 and 0.04% MoS2. Further there is a historical high grade molybdenum target below the level 6 of the existing mine that has target grades as high as 0.4% MoS2. The target has had over 40 historical and two new drill holes drilled into the stockwork deposit. The Company intends to redrill the deposit in early 2012 once it achieves underground access to drill oblique holes to the mineralized veins. Woulfe is focused on publishing the updated resource numbers in Q3 2011, with pre-feasibility and feasibility studies completed later in the year, in order to move toward construction.
Brian Wesson, CEO and President of Woulfe Mining added, "Woulfe has a highly experienced multinational team on the ground in Korea, supported by Wardrop Engineers UK, SGS and Australian Mineral Consultants Vancouver and Melbourne."
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson (FAusIMM), President, CEO and Director
7/11/2011 9:00:09 AM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Jul 11, 2011 (Marketwire via COMTEX News Network) --
Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)(OTCQX:WFEMF) is pleased to announce assay results for the remaining batch of samples associated with the now completed phase 1 drilling program at Sangdong. The tungsten-molybdenum mineralisation at Sangdong is hosted within three parallel, shallow-dipping skarn zones (Main, Hangingwall and Footwall) with an original lateral extent of up to 1,200 metres along strike and 1,500 metres down dip.
Brian Wesson CEO comment, "The Sangdong Mine had over 700 historical holes drilled but unfortunately the previous owner and operator Korea Tungsten did not keep the drill core for inspection by our qualified person; however, we have detailed mine plans and records of the drill holes and logging. This detail has allowed Woulfe geologists to target the drill program to compliment the 2006 program, focused on confirming mineralisation above the valley floor for the initial mine plan. The phase 1 drill program is now complete and all the assays received. The drill program produced results better than expected and Wardrop, A Tetra Tech Company is now working on the modelling. Drilling will continue till end of the year with updates of the resources expected in Q3."
The results of the phase 1 drilling program have exceeded expectations with respect to the average width and grades of the three zones. The average width and grade for the three zones is 10.2 metres (true width) at 0.64% WO3 for the Main Zone based on the intersections from 17 holes, 10.4 metres (true width) at 0.43% WO3 for the Footwall Zone (18 intersections), and 7.5 metres (true width) at 0.49% WO3 for the Hangingwall (11 intersections).
The recent drilling results are summarised as below:
Main Zone
(The Main Zone was not included in the NI43-101 resource estimate of March 2010)
-------------------------------------------------- True Interval Length Width Grade GradeHole (m) (m) (m) (%WO3) (%MoS2) Zone-------------------------------------------------- Collar 4111497N, 484934E, Azimuth 47, Dip +37, Depth 85m,WSDD0028 Target H/W, Main, F/W--------------------------------------------------Intersection 69.0-83.0 14.0 12.2 0.77 0.05 Main--------------------------------------------------includes 72.0-74.5 2.5 2.2 1.81 0.03 Main--------------------------------------------------includes 77.5-82.5 5.0 4.4 0.91 0.03 Main-------------------------------------------------- Collar 4111499N, 485295E, Azimuth 333, Dip +17, Depth 115m,WSDD0017 Target H/W, Main, F/W--------------------------------------------------Intersection 14.5-32.5 18.0 9.4 0.51 0.15 Main--------------------------------------------------includes 14.5-17.0 2.5 1.3 0.69 0.85 Main--------------------------------------------------includes 18.5-22.5 4.0 2.1 0.79 0.06 Main--------------------------------------------------includes 26.5-28.5 2.0 1.0 0.59 0.02 Main-------------------------------------------------- Collar 4111462N, 485057E, Azimuth 66, Dip +35, Depth 152m,WSDD0012 Target H/W, Main, F/W--------------------------------------------------Intersection 66.5-73.5 7.0 5.7 0.47 0.06 Main--------------------------------------------------includes 66.5-68.0 1.5 1.2 0.59 0.14 Main--------------------------------------------------includes 70.5-73.5 3.0 2.5 0.71 0.01 Main-------------------------------------------------- Collar 4111461N, 485056E, Azimuth 283, Dip +46, Depth 105m,WSDD0011 Target H/W, Main, F/W--------------------------------------------------Intersection 89.0-99.0 10.0 6.2 0.39 0.01 Main--------------------------------------------------includes 93.0-99.0 6.0 3.7 0.46 0.01 Main--------------------------------------------------
Footwall Zones
-------------------------------------------------- True Interval Length Width Grade GradeHole (m) (m) (m) (%WO3) (%MoS2) Zone-------------------------------------------------- Collar 4111497N, 484934E, Azimuth 47,WSDD0028 Dip +37, Depth 85m, Target H/W, Main, F/W--------------------------------------------------Intersection 2.0-21.0 19.0 16.6 0.44 0.08 F/W--------------------------------------------------includes 3.5-5.0 1.5 1.3 0.83 0.00 F/W--------------------------------------------------includes 15.5-18.0 2.5 2.2 2.00 0.02 F/W-------------------------------------------------- Collar 4111462N, 485057E, Azimuth 66,WSDD0012 Dip +35, Depth 152m, Target H/W, Main, F/W--------------------------------------------------Intersection 14.0-23.0 9.0 7.4 0.49 0.02 F/W--------------------------------------------------includes 14.0-15.5 1.5 1.2 0.98 0.02 F/W--------------------------------------------------includes 20.0-23.0 3.0 2.5 0.68 0.03 F/W-------------------------------------------------- Collar 4111461N, 485056E, Azimuth 283, Dip +46,WSDD0011 Depth 105m, Target H/W, Main, F/W--------------------------------------------------Intersection 19.0-24.5 5.5 3.4 0.33 0.00 F/W--------------------------------------------------Intersection 32.5-34.5 2.0 1.2 0.36 0.01 F/W-------------------------------------------------- Collar 4111499N, 485295E, Azimuth 333, Dip +17,WSDD0017 Depth 115m, Target H/W, Main, F/W--------------------------------------------------Intersection 1.0-3.0 2.0 1.0 0.33 0.00 F/W (1)--------------------------------------------------
Hangingwall Zone
-------------------------------------------------- True Interval Length Width Grade GradeHole (m) (m) (m) (%WO3) (%MoS2) Zone-------------------------------------------------- Collar 4111462N, 485057E, Azimuth 66, DipWSDD0012 +35, Depth 152m, Target H/W, Main, F/W--------------------------------------------------Intersection 96.5-114.0 17.5 14.4 0.31 0.04 H/W--------------------------------------------------includes 102.0-106.0 4.0 3.3 0.50 0.04 H/W-------------------------------------------------- Collar 4111499N, 485295E, Azimuth 333, DipWSDD0017- +17, Depth 115m, Target H/W, Main, F/W--------------------------------------------------Intersection 79.5-85.0 5.5 2.9 0.52 0.29 H/W--------------------------------------------------includes 82.5-85.0 2.5 1.3 0.79 0.39 H/W--------------------------------------------------
Significant drill intercepts, defined as any mineralisation of 1 metre lengths or longer, are presented in the tables above. A cut-off of 0.15% WO3 was used for the intersection calculations. The reader should understand that the reported intersections represent calculations that are derived from drill results only and do not necessarily reflect the widths and grades used in any resource estimate. In the resource estimation process values are typically confined within a geological model and not all values intersected are necessarily used.
The drilling program targeted the unmined mineralisation in the upper section of the mine above the current water level for mine planning and feasibility reserve estimation purposes. The March 2010 Scoping Study completed by Wardrop, a Tetra Tech company, (Wardrop) produced an Inferred Resource of 103.6 million tonnes at 0.35% WO3, and 0.04% MoS2 at a cut-off of 0.1% WO3. This resource modelled the group of Footwall mineralised zones as a combined unit and the Hangingwall Zone as another unit. Any remaining mineralisation from the Main Zone was not included.
The final batches of assay results comprised 4 holes, all of which intersected the Main and Footwall Zones and two intersected the Hangingwall Zone. Significant Main Zone intersections include 12.2 metres true width at 0.77% WO3 (WSDD0028) and 9.4 metres true width at 0.51% WO3 (WSDD0012). Significant Footwall Zone intersections include 16.6 metres true width at 0.44% WO3 (WSDD0028) and 7.4 metres true width at 0.49% WO3 (WSDD0012). Significant Hangingwall Zone intersections include 14.4 metres true width at 0.31% WO3 (WSDD0012), which included 3.3 metres true width at 0.50% WO3.
The samples are prepared on-site in Korea to appropriate industry standards and sent to SGS Perth, Australia for analysis. Samples are analysed by Inductively Coupled Plasma Mass Spectrometry (ICP) and for ore-grade quantities of specific elements by aqua regia or 4-acid digestion followed by ICP analysis. Molybdenum is analysed by X-ray fluorescence. The QA/QC protocol comprises insertion of one standard, one blank (crushed glass) and one pulp duplicate in every batch of 20 samples.
This news release has been reviewed and approved in the form and context in which it appears by Mr Paul Gribble FIMMM, C.Eng, of Wardrop, who is working with Woulfe on the Sangdong studies. Mr Gribble has appropriate qualifications and sufficient relevant experience to qualify as a Qualified Person for the reporting of exploration results for the Sangdong deposit.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson (FAusIMM), President, CEO and Director
About Woulfe Mining Corp.
Woulfe Mining Corp. is a TSX-V listed company with a diversified portfolio of mining licenses for tungsten, molybdenum, gold, base metals and uranium-vanadium in South Korea.
The company is focused on the development of the Sangdong tungsten mine (one of the World's largest and most renowned tungsten mine's for 40 years) a property that we believe has substantial value for our shareholders. The outcome of the scoping study in March 2010 determined that the project NPV was US$467 million at a commodity price of $2500 per tonne Ammonium Paratungstate (APT). Today, the APT price is over US$45,000 per tonne. Woulfe has accelerated the project due to the robust project and market. The company's target is to move to production at the end of 2012In the last 18 months the company has focused on building the Sangdong tungsten mine team and reopening the mine. The project is well staffed with professionals and is moving forward rapidly.
Woulfe Corporate has now turned its focus to the Muguk gold project, historically Korea's largest producing gold mine. In 1998, Muguk was reported by Korea Resources Corporation (KORES) to contain a combined resource of 1,418,980 tonnes @ 13.5 g/t gold, 72.8 g/t silver (615,956 oz gold and 3,321,599 oz silver). Woulfe cautions that a Qualified Person has not done sufficient work to classify the historical estimate as current, that it is not treating the historical estimate as current and that the historical estimate should not be relied upon. A drill campaign is starting drilling the down dip extensions of the Three Brothers Vein in June 2011. Woulfe's other projects will be considered once these two projects are moving to production, in order to unlock value for shareholders and to move the company to a positive cash flow as quickly as possible.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information and even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: commodity price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative nature of mineral exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the appropriate regulatory authorities.
SOURCE: Woulfe Mining Corp.
Renmark Financial CommunicationsBarbara KomorowskiOffice phone +1 (514) 939-3989bkomorowski@renmarkfinancial.comNicola Street CapitalNick SmithMobile phone +1 (415) 595-0865nsmith@nicolastreetcapital.comWoulfe Mining Corp.Administration Office+1 604 684 6264+1 604 684 6242(FAX)info@woulfe.com.auwww.woulfemining.com
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Der Kurs hat sich in Kanada heut auch viel verhaltener bewegt als bei uns, was allerdings an so einem blutroten Börsentag, wo auch gute News gerne ignoriert werden, nicht verwundert.
Woulfe eignet sich nicht für den schnellen Euro, hier ist weiterhin Geduld angesagt bis zur Ernte..
aber ich bin überzeugt von woulf,gebe kein stück her,im gegenteil! habe ständig wieder aufgestockt um mein kurs zu verbilligen.jetzt warte ich halt noch 2-3 jahre ,is ja alles steuerfrei :)))))
Jul. 14, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)(OTCQX:WFEMF) has commissioned PricewaterhouseCoopers to perform a detailed analysis and valuation of its Sangdong Tungsten Molybdenum Project. This valuation will be used to ensure any transaction for Sangdong would realize true shareholder value.
Woulfe Mining has achieved a number of key milestones which could positively impact the valuation. In addition, the tungsten market has strengthened considerably over the past 9 months. Permitting and detailed design of the mine and process plant is now well advanced. Woulfe plans to release before the end of July, an updated resource statement prepared by Wardrop, a Tetra Tech company, as well as an independent capital evaluation and the PricewaterhouseCoopers valuation.
Woulfe Mining has requested a new proposal from Korea Zinc that reflects the change in the Company's value based on these factors.
Brian Wesson, CEO and President of Woulfe Mining, commented, "Our Sangdong project has changed significantly as has the market; the updated resource is due out soon followed by pre-feasibility and feasibility studies. The detail design of the project is well advanced and given the project's strong economics, we believe that it can be financed shortly and progressed to production in 2012."
This news release has been reviewed and approved in the form and context in which it appears by Mr. Paul Gribble FIMMM, C.Eng, of Wardrop, who is working with Woulfe on the Sangdong studies. Mr. Gribble has appropriate qualifications and sufficient relevant experience to qualify as a Qualified Person for the reporting of exploration results for the Sangdong deposit.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson (FAusIMM), President, CEO and Director
Last Market by Price Update: 18 Jul 2011 10:26 ET
Instrument Name: Woulfe Mining Corp. Symbol: WOF
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BID Orders Volume Price Range
9 1,138,000 0.215-0.235
ASK Price Range Volume Orders
0.240-0.275 1,269,500 15
Marketwire
Woulfe Mining Corp.
July 18, 2011 - 11:41:25 AM
Woulfe Mining Updates Resource in Top Quarter of Sangdong Project Mine Which
Validates Fast Track Development
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2011) - Woulfe Mining
Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)(OTCQX:WFEMF) announces
that Wardrop, a Tetra Tech company, (Wardrop) have completed an interim
resource update for the Sangdong mine in South Korea. This follows completion
of Woulfe's phase 1 drilling programme and other works. The resource for the
skarn mineralised zones is summarised in Table 1. It is important to note that
this Resource represents mineralisation only within the Upper Section of the
mine. The Resource given in Table 1 represents approximately one-quarter of
the dip length of known mineralisation from the old mine. Woulfe will continue
to drill and explore the remainder of the dip length and refine the Resource.
Table 1 Resource estimate for Sangdong, skarn mineralised zones,
Upper Section.
--------------------------------------------------
Class Zone TONNES Density WO3 (%) MoS2 (%)
--------------------------------------------------
'Indicated' Hangingwall 1,143,000 2.9 0.38 0.07
--------------------------------------------------
'Indicated' Main 2,076,000 2.9 0.47 0.03
--------------------------------------------------
'Indicated' Footwall 2,749,000 2.9 0.41 0.03
--------------------------------------------------
'Indicated' Total 5,968,000 0.42 0.04
--------------------------------------------------
--------------------------------------------------
'Inferred' Hangingwall 6,073,000 2.9 0.38 0.06
--------------------------------------------------
'Inferred' Main 9,002,000 2.9 0.50 0.04
--------------------------------------------------
'Inferred' Footwall 3,497,000 2.9 0.46 0.04
--------------------------------------------------
'Inferred' Total 18,572,000 0.45 0.05
--------------------------------------------------
Brian Wesson CEO and President of Woulfe Mining commented "Woulfe is focused
on early low cost production from the upper 25% of the ore body therefore all
the work to date has concentrated on this area. The drilling carried out by
Woulfe was efficient and produced good results, grade has increased by close
on 30% over the scoping study grade. This is an important mile stone as it
confirms the resource base in the upper part of the mine to underpin the
plan."
Background
The Wardrop Scoping Study Report (April 2010) produced the published resource
given in Table 2.
Table 2 Resource estimate for Sangdong, skarn mineralised zones,
April 2010 Scoping Study
--------------------------------------------------
Class Zone TONNES Density WO3 (%) MoS2 (%)
--------------------------------------------------
Inferred Hangingwall 45,800,000 2.9 0.32 0.05
--------------------------------------------------
Inferred Footwall 57,400,000 2.9 0.37 0.04
--------------------------------------------------
It is important to understand that the scoping study Resource was based
entirely on historical drilling data. Under current guidelines this data does
not comply with NI 43-101 Quality Assurance and Quality Control (QAQC). As a
result the Resource was classified in the 'Inferred' category.
The interpretation of the mineralised zones for the whole deposit was a very
coarse representation of the geology as understanding and data was very
limited at the time of that study.
Details
This Resource update (effective date July 15th 2011) is the culmination of
work completed since Woulfe took charge of the project. It represents the end
of the first stage of a programme to refine and understand the Resource.
Woulfe gained access underground and started a comprehensive underground
drilling campaign, supplemented with additional surface holes. The new
Resource update is based on this drilling campaign and the modern surface
drilling campaign completed by Woulfe's predecessor at the project.
A wealth of historical data has also been made available to Woulfe including:
-- Underground survey master drawings,
-- Annual mine plans,
-- Geological plans and sections, and
-- Other relevant mapping.
The new Wardrop resource has been based on the new compliant drilling data
collected to date and the historical reference material; consequently the new
resource should be considered more robust than the original scoping study.
From study of historical data the mineralisation is now better understood and
also now better realised in the model. The new model can be considered a much
closer representation of the geology as understood in the mine than the
scoping study model. Part of the Resource presented here lies within a known
higher grade section of the old mine. Average grades in this zone are
approximately 0.6% WO3.
The greatly increased geological understanding, enhanced by underground
access, has led to significant refinement of the mineralised zones. This is
especially true for the footwall zone where the mineralisation has been
refined to individual smaller zones as opposed to the coarse combination of
zones in the scoping study model.
7/21/2011 5:43:33 PM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Jul 21, 2011 (Marketwire via COMTEX News Network) --
Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)(OTCQX:WFEMF) is pleased to announce the launch of an updated company website.
The new website, www.woulfemining.com, will help members of the investment community learn more about Woulfe and its exciting portfolio of projects, including the Sangdong Tungsten-Molybdenum Mine which the Company is actively moving progressing toward production in order to unlock value for shareholders and move the company to a positive cash flow as quickly as possible.
Brian Wesson CEO and President of Woulfe commented, "We are very pleased with the work the team at Nicola Street Capital put into improving the overall look, user experience and readability of the Woulfe Mining website. I believe the new website will be a great tool for helping educate current and potential investors about our Company, our goals and the advancement of our projects."
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson (FAusIMM), President, CEO and Director
About Woulfe Mining Corp.
Woulfe Mining Corp. is a TSX-V listed company with a diversified portfolio of mining licenses for tungsten, molybdenum, gold, base metals and uranium-vanadium in South Korea.
The company is focused on the development of the Sangdong tungsten mine (one of the World's largest and most renowned tungsten mine's for 40 years) a property that we believe has substantial value for our shareholders. The outcome of the scoping study in March 2010 determined that the project NPV was US$467 million at a commodity price of $25,000 per tonne Ammonium Paratungstate (APT). Today, the APT price is over US$45,000 per tonne. Woulfe has accelerated the project due to the robust project and market. The company's target is to move to production at the end of 2012. In the last 18 months the company has focused on building the Sangdong tungsten mine team and reopening the mine. The project is well staffed with professionals and is moving forward rapidly.
Woulfe Corporate has now turned its focus to the Muguk gold project, historically Korea's largest producing gold mine. In 1998, Muguk was reported by Korea Resources Corporation (KORES) to contain a combined resource of 1,418,980 tonnes @ 13.5 g/t gold, 72.8 g/t silver (615,956 oz gold and 3,321,599 oz silver). Woulfe cautions that a Qualified Person has not done sufficient work to classify the historical estimate as current, that it is not treating the historical estimate as current and that the historical estimate should not be relied upon. A drill campaign is starting drilling the down dip extensions of the Three Brothers Vein in June 2011. Woulfe's other projects will be considered once these two projects are moving to production, in order to unlock value for shareholders and to move the company to a positive cash flow as quickly as possible.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information and even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: commodity price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative nature of mineral exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the appropriate regulatory authorities.
SOURCE: Woulfe Mining Corp.
Renmark Financial Communications
Barbara Komorowski
Office: +1 (514) 939-3989
bkomorowski@renmarkfinancial.com
Nicola Street Capital
Nick Smith
Mobile: +1 (415) 595-0865
nsmith@nicolastreetcapital.com
Woulfe Mining Corp.
Administration Office
+1 604 684 6264
+1 604 684 6242(FAX)
info@woulfe.com.au
www.woulfemining.com
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Deshalb hat man wohl auf einen Trading Halt verzichtet.. :-)
Die lange Seitswärtsbewegung bei Woulfe scheint ihr Ende zu finden.