Significant Maiden Molybdenum Resource Defined Adjacent to the Tungsten Orebody at Sangdong Mine in South Korea - Seite 3

The majority of the holes are vertical with an average lateral spacing of approximately 100m. Once within the overall extents of the molybdenum zone, most of the holes exhibit marked alternating nature of high and low grade assays, consistent with an overall stockwork interpretation. The nature and dip of the higher grade intersections is not clear. The upper 25% of the overall MoS2 mineralisation continues is hosted in slates. The lower 75% of the overall MoS2 mineralisation is hosted in quartzite.

Mineral Resource Estimation Methodology

An updated mineral resource estimation was completed by the Competent Person. This estimation employed a three-dimensional block modelling approach, using Datamine software. The block model was set up with a 25m x 25m x 5m parent cell size and a cutoff grade of 0.19% MoS₂. Grade estimation was done using ordinary kriging (OK) for the waste/mineralisation fractions, as well as low and high MoS2 grade portions. These estimated values were combined to give overall MoS2 grades for each parent block.

All of these modelled resources were classified with an Inferred category, reflecting the spacing and quality of available data, as well as the geological understanding of the deposit.

Drilling Techniques, Sampling and assaying

The following information was based on the Wardrop. “Sangdong Project Scoping Study” published in April 2010.

Sample Preparation

Sample preparation from core to pulps for analysis was completed on-site. Core was sawn in half, half placed in a plastic sample bag and half replaced in the core box for archival storage. Sample tags were placed in the core box and in the sample bag and the sample number was written on the sample bag as well. Standards were placed into the sample stream at this point in the sampling process, in accordance with a sample list that had been drawn up by the geologist responsible for logging the hole. Core samples were dried, split, crushed and pulverized on-site by WMC personnel in a preparation lab that was purchased as a modular unit. Equipment was cleaned by brushing and the use of compressed air between each sample. An approximately 50g split portion of the pulverized sample was sent to Perth, Australia, for analysis. Blanks are inserted one in every twenty samples to ensure there is no contamination.