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Almonty Industries Commences Large-Scale Drilling Program at Sangdong Molybdenum Project
Accelerated Drilling Campaign in Response to Critical Molybdenum Supply Shortage Almo...
About this update from Almonty Industries Inc.
[{"type":"text","content":"Almonty Industries Commences Large-Scale Drilling Program at Sangdong Molybdenum Project\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n Accelerated Drilling Campaign in Response to Critical Molybdenum Supply Shortage\n \n\n\n\n\n Almonty Industries Inc. (“\n \n Almonty\n \n ” or the “\n \n Company\n \n “) (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1), a leading global producer of tungsten critical to the U.S. defense and technology sectors, today announced that it has commenced a large-scale drilling program at its Sangdong Molybdenum Project (South Korea) in Yeongwol, Gangwon Province, South Korea (the “\n \n Sangdong\n \n\n Molybdenum Project\n \n ”), to obtain data to confirm whether mineral reserves of molybdenum can be established ahead of possible future production. Almonty has previously filed a technical report for the Sangdong Molybdenum Project entitled “Report\n \n NI 43-101 Technical Report of the Sangdong Molybdenum Stockwork Project, South Korea\n \n ”, dated May 31, 2022 (the “\n \n Technical Report\n \n ”) that was authored by Adam Wheeler, B.Sc, M.Sc, C. Eng. (the “Qualified Person”), an independent expert and a “qualified person” within the meaning of National Instrument 43-101 –\n \n Standards of Disclosure for Mineral Projects\n \n (“\n \n NI\n \n\n 43-101\n \n ”). The Technical Report has been filed on SEDAR+ and can be accessed under the Company’s profile at\n \n www.sedarplus.ca\n \n and on the Company’s\n \n website\n \n .\n \n\n This press release features multimedia. View the full release here:\n \n https://www.businesswire.com/news/home/20250923774134/en/\n \n\n\n\n\n Diamond Drilling activity at Alfonse-D Load.\n \n\n\n Molybdenum is a strategic metal that can significantly enhance heat and corrosion resistance when added in small amounts to steel or specialty alloys. It is widely used in high-temperature and high-pressure industries such as aerospace, defense, nuclear energy, and petrochemicals. More recently, demand has been expanding into next-generation industries including semiconductors and renewable energy facilities. Over the past year, the spot price of molybdenum has increased by approximately 15.1% year-to-date to US$2...