Exploration and Development of World-class Mines, South Korea
Woulfe Mining (CVE:WOF; PINK:WFEMF) formerly known as Oriental Minerals Inc is progressing on a number of properties in South Korea. The majority of the projects are mines that were closed in the 1990s when metal prices dropped. Their most significant project is the Sangdong tungsten-molybdenum mine, which closed in 1992 after 40 years of operation.
Drilling started in 2006, and the results have been used to complete a scoping study by Wardrop showing an NPV of $462 million. Woulfe is also evaluating the potential of Muguk Mine as a high-grade gold-silver mine. Historically, Muguk has been South Korea s largest gold producing mine.
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