Almonty Industries Inc. (“Almonty”) (TSX: AII / OTCQX: ALMTF / Frankfurt: ALI.F) is pleased to announce that it has now scheduled a start date of the week of April 12th, 2021 to commence a 12,500m drilling campaign to convert the existing historical data for its Sangdong Molybdenum Project into a NI 43-101 and JORC compliant report. The estimated time of this campaign is approximately 6 months to completion. This campaign will be focused around the previous 12,390m of historical core drilling that was conducted by Korea Tungsten and KORES in the 1980’s. At that time, indications of the preliminary high-grade ore reserves estimate were shown with grades in excess of 0.40% MoS2 with tonnage in excess of 16.30mt. The preliminary low grade global reserves indicated grades in excess of 0.11% with tonnage in excess of 120mt. If confirmed, this would create one of the world’s largest long life high grade Molybdenum projects. The Molybdenum orebody is located just 150 metres below the tungsten deposit.
Almonty Industries Inc. Announces the Scheduling of the Historical Confirmation Drilling Campaign for Its Sangdong Moly Project
Feb 10, 2021
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