RE:RE:RE:RE:Significant Maiden Molybdenum Resource Defined Adjacent to..From blueskies :-
"1. This is based on a review of older drilling data and it will likely grow once new exploratory drilling is done and the infill drilling better targets the higher grade rock."
My comment :-
Spot on there, and all the "old" data still holds value even if it is on a spreadsheet, instead of physical core samples in storage.
Infill drills will better a 3D picture of the deposit.
A massive amount of historic core samples and paper work from the "way back days" (pre 1992) were destroyed or lost when the Japanese turned up on site, plus just plain old neglect by the Korean 1945 to 1992 operators that gave up hope. .
The data we have left is still good (pro 1992).
From the NR :-
"The drillhole database stems from underground drilling, and some surface drilling, completed prior to 1992 by the Korea Tungsten Mining Company Ltd. (“KTMC”), as well by Oriental Minerals OTL during 2006-2008. The KTMC drilling covers 14,300m over 27 holes. The OTL drilling which intersected the area of molybdenum mineralisation, covers 4,000m over 6 holes. The sample database is in the form of an Excel spreadsheets."
History :-
"The discovery of first outcrop of Sangdong Mine was in April 1916. Tungsten mineral had increased in value with the outbreak of World War I and had been developed and mined by Japanese mining company (Solim Mining Corporation) until Korean independence in 1945. And in the post-Korean War decades, Sangdong mine was the powerhouse of the economy contributing more than 50% of the country's export revenue as one of the largest global tungsten producer. But as all other metallic mine in South Korea, Sangdong Mine also fell into the way of closing primarily due to low commodity prices along with China’s market open policy in 1980s and so closed in 1992."
"2. The cost of extraction should be very low since a mine is already being built."
My comment :-
Once again, spot on.
They dont have to dig down, just sideways for the moment, and I think the Moly part of the process plant will be brought forward asap in design and build, as Lewis said :-
"We are also excited to formulate a robust mining plan so that this project will run alongside our tungsten mine simultaneously given that both can share the same existing mining infrastructure and the dramatic development cost savings it presents. Being LME traded, it is also pleasing to note the hedging and pricing transparency of molybdenum. We look forward continuing further exploration works to integrating the AKM Project into the Sangdong Tungsten Mine.”
There are so many more lease zones that "we shareholders" dont know anything about, but I think Almonty does have some scattered test drill info from the past to work on.
This could stretch the time line out a bit, but I think/hope a contingency plan was put in place long ago.
The Cake, the Filling, the Icing, the Cherry on top are all Gems, the Jewel is the refined product.