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Almonty Announces Updated Reserve and Resource Estimate and Filing of Updated NI 43-101 Technical Report Dated October 31, 2013
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES / ...
About this update from Almonty Industries Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES/\n\n\nIncreased Tungsten Reserves by 6.30%, Contained Tungsten by 5.75% and\n extends mine life to 9 years \n\n\nTORONTO, Dec. 12, 2013 /CNW/ - Almonty Industries Inc. (\"Almonty\" or the \"Company\") (TSX-V: AII) today announced the release of an updated mineral\n reserve and resource estimate and associated filing of a technical\n report pursuant to National Instrument 43-101- Standards of Disclosure for Mineral Projects (\"NI 43-101) for the Los Santos Project, a tungsten mine located in Western\n Spain.\n\n\nThe resource estimate includes 2,760,00 tonnes of measured and indicated\n mineral resources with a WO3 average grade of 0.32%, plus, 1,527,000 tonnes of inferred resources\n with a WO3 grade of 0.24%.  The currently planned open pits and underground mine\n contain 1,880,000 tonnes of proven and probable mineral reserves with a\n WO3 average grade of 0.39%.  The planned pits also contain inferred\n resources of 355,000 tonnes with a WO3 average grade of 0.40%.  In addition there are 1,932,000 tonnes of\n reserves with a WO3 average grade of 0.16% coming from the tailings stockpile. The measured\n and indicated resources are inclusive of reserves. The complete report\n is filed on SEDAR (www.sedar.com) under Almonty's company profile and will also be available on the\n Company's website.\n\n\n\"We are very pleased with the upgraded resource estimate at the Los\n Santos Project replacing the mineral reserves the Company consumed in\n 2013 and extending the mine life an additional year to 9 years as at\n June 30, 2013,\" commented Lewis Black, Chairman, President & CEO of\n Almonty. \"The 2013 exploration campaign has allowed us to add another\n year to the mine life and replace the material that was consumed in\n fiscal 2013.  In addition the Measured and Indicated Resource provides\n us with sufficient forward planning visibility to fully optimize the\n pit design and mine plan for the long-term.  We intend to continue\n exploration drilling in fiscal 2014 at the Los Santos Project with a\n focus on underground drilling via the existing galleries to further\n delineate the underground mine potential of the Los Santos Project.\n Drilling is scheduled to commence in calendar 2014 and we will update\n th...