Mr. Lewis Black reports
ALMONTY ANNOUNCES THE FOLLOWING FILINGS: THE LOS SANTOS MINE NI 43-101 TECHNICAL REPORT; THE WOLFRAM CAMP MINE NI 43-101 TECHNICAL REPORT; AND THE VALTREIXAL PROJECT NI 43-101 TECHNICAL REPORT ALL DATED OCT. 31, 2015
Almonty Industries Inc. has filed National Instrument 43-101 technical reports for
each of: the Los Santos mine, a tungsten mine located in western Spain;
the Wolfram camp mine, a tungsten mine located in Queensland, Australia;
and the Valtreixal project, a tin-tungsten development project located
in northwestern Spain.
The technical reports were filed on SEDAR
under Almonty's company profile and will also be available on the
company's website.
"We believe the updated NI 43-101 technical reports demonstrate
the consistent expansion of Almonty's tungsten reserves and resources
over the previously filed reports, once again demonstrating the
company's ability to increase the life of mine at each of its projects
and enhance our understanding of the ultimate potential of each project's longevity in the mine life, increased reserve base and increased
contained tungsten at each project through additional exploration
activity. Combined with the inferred resources at our recently acquired
Sangdong mine in South Korea, we believe Almonty has a resource profile
that rivals any tungsten mining company in the world," stated Lewis
Black, chief executive officer of Almonty.
Mr. Black continued: "We are
also in the process of updating the feasibility study for the Sangdong
project and including additional drill data that was excluded from the
June 1, 2015, study. We anticipate being in a position to publish this
update within the next 45 days and anticipate that it will show material
improvement over the June 1, 2015, report."
A summary of the technical reports is found in the attached tables.
LOS SANTOS AND WOLFRAM RESERVES AND RESOURCES
Los Santos June 30, 2015 Wolfram camp Aug. 31, 2015
Tonnes Avg grade Contained WO3 Tonnes Avg grade Contained WO3
WO3 Tonnes MTU Tonnes MTU
Reserves
Proven and probable 1,465,000 0.34% 4,951 495,100 375,000 0.22% 825 82,500
Mineralized tailings 2,062,000 0.15% 3,191 319,100 0 0.00% 0 0
Stockpiles 55,289 0.33% 183 18,300 0 0.00% 0 0
Total 3,582,289 0.23% 8,325 832,500 375,000 0.22% 825 82,500
Resources (inclusive
of reserves)
Measured 75,000 0.41% 304 30,400 0 0.00% 0 0
Indicated 2,133,000 0.28% 6,012 601,200 514,000 0.23% 1,182 118,220
Total 2,208,000 0.29% 6,316 631,600 514,000 0.23% 1,182 118,220
Inferred mineral resources
Inferred 1,878,000 0.25% 4,663 466,300 1,879,000 0.31% 5,825 582,490
Cut-off
Reserves 0.07% WO3 0.08% WO3
Resources 0.05% WO3 0.10% WO3
Inferred resources 0.05% WO3 0.10% WO3
VALTREIXAL AND SANGDONG RESERVES AND RESOURCES
Valtreixal Oct. 31, 2015
Tonnes Avg grade Contained WO3
(WO3+Sn) equivalent
Equivalent Tonnes MTU
Reserves
Proven and probable 2,549,000 0.34% 8,667 866,660
Mineralized tailings 0 0.00% 0 0
Stockpiles 0 0.00% 0 0
Total 2,549,000 0.00% 8,667 866,660
Resources (inclusive of
reserves)
Measured 0 0.00% 0 0
Indicated 2,828,000 0.34% 9,615 961,520
Total 2,828,000 0.34% 9,615 961,520
Inferred mineral resources
Inferred 15,419,000 0.17% 26,212 2,621,230
Cut-off
Reserves 0.08% WO3
Resources 0.05% WO3
Inferred resources 0.05% WO3
Sangdong June 1, 2015
Tonnes Avg grade Contained WO3
WO3 Tonnes MTU
Reserves
Proven and probable 5,900,000 0.57% 33,630 3,363,000
Mineralized tailings 0 0.00% 0 0
Stockpiles 0 0.00% 0 0
Total 5,900,000 0.57% 33,630 3,363,000
Resources (inclusive of reserves)
Measured 0 0.00% 0 0
Indicated 9,310,000 0.53% 49,343 4,934,300
Total 9,310,000 0.53% 49,343 4,934,300
Inferred mineral resources
Inferred 34,800,000 0.39% 135,720 13,572,000
Cut-off
Reserves 0.275% WO3
Resources 0.15% WO3
Inferred resources 0.15% WO3
WO3 equivalent equals WO3 plus (Sn times 0.74), based on
Price Recovery
WO3 $37,000 (U.S.)/t 55%
Sn $23,150 (U.S.)/t 65%
Almonty owns 25 per cent of Valtreixal and has an irrevocable option to acquire the remaining 75 per cent.
ALMONTY CONSOLIDATED RESERVES AND RESOURCES
Tonnes Avg grade Contained WO3 equivalent
(WO3+Sn) Tonnes MTU
Equivalent
Reserves
Proven and probable 10,289,000 0.47% 48,073 4,807,260
Mineralized tailings 2,062,000 0.15% 3,191 319,100
Stockpiles 55,289 0.33% 183 18,300
Total 12,406,289 0.41% 51,447 5,144,660
Resources
(inclusive of reserves)
Measured 75,000 0.41% 304 30,400
Indicated 14,785,000 0.45% 66,152 6,615,240
Total 14,860,000 0.45% 66,456 6,645,640
Inferred mineral resources
Inferred 53,976,000 0.32% 172,420 17,242,020
Qualified person
The three technical reports being filed today were prepared by Adam
Wheeler, an independent mining consultant. Mr. Wheeler is an independent
qualified person for the purposes of National Instrument 43-101 and has
prepared and/or approved the scientific and technical disclosure
contained in this news release.
We seek Safe Harbor.
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