Standard & Poor's announced today that it has commenced Factual Stock Report coverage Woulfe Mining Corp.
Woulfe Mining Corp. (TXV:WOF), in the exploration stage as of December 31, 2010, acquires and explores mineral property interests in South Korea. It has a diversified portfolio of mining licenses for tungsten, molybdenum, gold, base metals and uranium-vanadium in South Korea.
The company's projects include the Sangdong tungsten-molybdenum mine; the Muguk gold-silver mine; and a number of other properties with significant known mineralization. The Sangdong Project, the company's most advanced project, is a tungsten-molybdenum deposit with bismuth and gold as byproducts. It is located 187 kilometers southeast of Seoul in eastern South Korea. Woulfe holds a 70% interest in the Sangdong Project. In March 2011, the company reported on its activities and plans at the Sangdong tungsten-molybdenum project in South Korea.
Woulfe is advancing the Sangdong project by simultaneously working on five key project objectives. The plan is to have four critical items completed by end of 2011 with project development to be completed during 2012. Woulfe reported that it was drilling the upper part of the current inferred resource of 103.6 Mt at 0.37% WO3 and 0.04% MoS2 cut off 0.1% WO3. The drilling was focused above the valley floor in an area which is mostly unmined. As of mid-March 2011, there were six drill rigs onsite and the program was expected to be completed in May 2011.
The company noted that the scoping study did not take into consideration the molybdenum stock work ore body located below the skarn mineralization. This zone was drilled by Korea Resources Corporation, which produced a historical non-compliant reserve estimate of 15 million tonnes at 0.4% MoS2. The 42 holes drilled in the lode were at a steep angle to the interpreted mineralized structures, as were the two subsequent holes drilled by Woulfe. A follow-up drilling program will be considered following the completion of the current program.
S&P Factual Stock Report coverage Woulfe Mining Corp. will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit www.woulfemining.com for additional information.
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Note:All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P's STARS research) are eligible to obtain this coverage.
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