Tungsten

[Tackler]

Primary Metals' Panasqueira production increases by 25%

2006-01-20 14:17 ET - News Release

Mr. James Robertson reports

TUNGSTEN MINE OUTPUT INCREASES TO 3,000 TPD AT PANASQUEIRA

Primary Metals Inc. has provided recent progress at its wholly owned Panasqueira tungsten mine in Portugal where new underground mining equipment has been introduced and a refurbishment program is under way. Mine output has increased significantly to 3,000 metric tons per day (tpd) from previous levels of 2,400 tpd, an increase of 25 per cent. A record daily production of 3,185 tonnes was recorded earlier this month and management believes that these higher production levels can be maintained.

The increase results from improved efficiencies in the mine and the introduction of new, low-profile mining equipment including three new Atlas Copco ST 600 LHD (load/haul/dump) units and three new jumbo boom underground drill rigs. Another low-profile LHD unit has been ordered for delivery at the end of March of this year. A new dumper unit, as well as a refurbished unit, is also operating in the mine. The underground mine hoist was refurbished last fall and is performing well.

General refurbishment is under way at the mill. The heavy media plant continues to operate well and a new Knelson concentrator has arrived and will be installed in February in the slimes circuit. A small but important increase in tungsten recovery is expected from the use of the new equipment. The mill is now operating 5.5 days per week as a result of the increased mine output.

Mine development and exploration

Underground mine development has been proceeding as planned and 541 linear metres of new development galleries to access new ore have been completed during the three months ended December, 2005. Several of these development galleries have been driven in wolframite veins and have provided ore above the cut-off grades in preparation for accessing new faces and higher grade material. The use of the new low-profile equipment results in less dilution of tungsten vein material with waste rock. Further development work remains to be completed over the next several months, which will allow the mine to significantly improve selectivity of mining areas and subsequently to increase the grade of the feed material to the process plant.

A program of surface and underground drilling has been under way since last November. The program is designed to identify additional tungsten resources outside the known mine areas and to confirm areas for continuing mine development in mine levels 3 and 4. A previously untested greisen zone in the mine appears visually favourable and will be sampled with drilling planned for March. The total program includes seven holes drilled from surface and approximately 20 holes drilled underground. It should be completed by the end of April.

Results to date appear very favourable and it is expected that information from the drilling program, the underground development work and existing mine data, will be used to prepare new reserve and resource estimates. Mine management prepares internal estimates twice a year and this spring, an independent estimate will be prepared in accordance with Canadian National Instrument 43-101. Results will be reported when available.

[Tackler]

PLY 5-day...

[Tackler]

Doing good alright, great year so far.

[Ed Monton]

Nice breakout on volume.

[Tackler]

PLY Wood!

[Tackler]

PLY...

[Tackler]

N.A. Tungsten ships concentrate from Cantung

2005-10-14 09:12 ET - News Release

Mr. Stephen Leahy reports

NORTH AMERICAN TUNGSTEN CORPORATION ANNOUNCES FIRST CONCENTRATE DELIVERIES

Shipments of tungsten concentrate have commenced from North American Tungsten Corp.'s wholly owned Cantung mine for furtherance to its international customers. With product delivery under way at Cantung, the company has once again established itself as the Western world's largest supplier of tungsten concentrate.

The corporation is also pleased to report that tungsten markets have recently strengthened, as evidenced by industry sources reporting European APT prices at $250 (U.S.) to $260 (U.S.) per metric tonne unit as of Oct. 12, 2005.

[Tackler]

N.A. Tungsten cuts 1.6% WO3 over 32.2 m at Mactung

2005-10-04 11:52 ET - News Release

Mr. Stephen Leahy reports

NORTH AMERICAN TUNGSTEN ANNOUNCES INITIAL MACTUNG DRILL RESULTS

North American Tungsten Corp. Ltd. has received the first assay results from the 2005 summer exploration program conducted on its wholly owned Mactung tungsten property on the Yukon/Northwest Territories border. The 6,000-metre, $1.2-million program included a total of 25 surface diamond drill holes, and assays for the first 11 holes have been received and evaluated. The more noteworthy results are tabulated below.

 
 Hole     From      To    Length  Grade 
  No.      (m)      (m)     (m)    %WO3 
  
 MS142   271.80   300.60   28.80   0.55 
 MS146   298.65   327.60   28.95   0.73 
 MS147   281.10   313.30   32.20   1.60 
 MS148   293.20   320.70   27.50   1.46 
 MS151   225.80   254.60   28.80   0.97 
 MS156   208.80   244.00   35.20   1.55 
 MS143   112.90   137.00   24.10   0.82 
 MS144   150.30   200.60   50.30   0.52 
 MS144    85.60   129.30   43.70   0.51 
 MS145    81.35   103.30   21.95   0.80 
 MS145   124.40   141.25   16.85   1.00 
 MS146   204.80   222.20   17.40   1.11 
 MS147    91.00   146.50   55.50   0.56 
 MS151    29.90    45.30   15.40   1.31 
 MS151   105.80   124.40   18.60   1.03 
 MS156    37.70    47.50    9.80   1.77 
 

The mineralization at Mactung occurs in skarnified lower Cambrian calcareous sediments in thicknesses up to a maximum of just over 30 metres. Grades are generally in the range of up to 1.5 per cent WO3 or so; although one intersection obtained in 1972 was close to 3 per cent WO3 (2.87 per cent WO3 over a core length of 30.5 metres in hole MT72072). The only tungsten mineral is disseminated scheelite, which is associated with massive to semi-massive and disseminated pyrrhotite in the skarnified sediments. The tungsten occurs in five stratigraphic horizons, four of which are shallower, contiguous and gently dipping to the south, and a fifth, which is about 100 metres deeper. The highest grade and thickest mineralization is associated with the axis of a westerly plunging Z fold in the deeper horizon -- this fold is not seen in the shallower horizons. A feasibility study by Amax in the early 1980s indicates that the shallower zones can be mined by open-pitting methods, and the deeper horizon, by underground methods.

The 2005 surface diamond drill holes were located to test a westerly plunging Z fold in the higher-grade underground horizon on strike to the west and down plunge of earlier drilling. The holes were generally collared at about 30-metre intervals along north-south lines 60 metres apart. These drill holes also passed through the four shallower open-pit horizons. Drill core was split with a hydraulic core splitter in approximately 1.5-metre lengths and double-bagged for shipment to Global Discovery Laboratories and ALS Chemex Laboratories in Vancouver.

Bags were closed with a numbered security tie. The core was assayed for tungsten using fusion with a fluorescence finish. Standard samples, which were prepared by CDN Resource Laboratories of Delta, B.C., were included in the sample run, and every 20th sample will be reassayed by Becquerel Laboratories of Mississauga by neutron activation. These check assay results are not expected for several weeks.

The company notes that this drilling has extended the underground indicated resource 60 metres on strike farther to the west, and has upgraded numerous inferred resource blocks in both the open-pit and underground horizons to the indicated category. Mineralized intersections were calculated using a 0.5-per-cent WO3 cut-off grade. Drill hole results have generally been consistent with nearby intersections obtained by Amax in the 1970s and early 1980s. Hole MS156, which was drilled at the same location and dip as old drill hole MT72071, confirmed the width and grade previously intersected (1.66 per cent WO3 over 32.0 metres in hole MT72071, and 1.60 per cent WO3 over 32.2 metres in hole MS156). All drill holes were drilled at or close to perpendicular to the mineralization and the intersection widths given above are very close to true thicknesses in nearly all cases. The company plans to investigate the recovery of small amounts of copper and gold that also occur in the deposit.

The 100-tonne bulk sample of underground ore taken during early September is in transit to a metallurgical test facility.

A new resource estimate will be made for the deposit during the coming winter after all assay results are received. A revised feasibility study will follow after the end of the 2007 summer field season.

This report was prepared under the supervision of David Tenney, CEng, the company's qualified person in charge of the Mactung project.

[Tackler]

North American Tungsten stakes 36 Mactung claims

2005-09-16 13:00 ET - News Release

Mr. Stephen Leahy reports

NORTH AMERICAN TUNGSTEN CORPORATION STAKES ADDITIONAL CLAIMS AT MACTUNG

North American Tungsten Corp. has staked an additional 36 claims, comprising approximately 1,800 acres in total, on the western boundary of its wholly owned Mactung property, located on the Northwest Territories-Yukon border.

The company has recently completed a $1.1-million drilling program at Mactung. In addition the company rehabilitated the 1973 adit and took 27 channel samples and a 70-tonne bulk sample taken from extensive tungsten-bearing skarn exposures in the old workings. The channel samples will be sent for assay and the bulk sample used for metallurgical testing.

Assay results from the 6,000-metre drilling program and the channel samples will be reported shortly.

The exploration and sampling program is being conducted under the direction of the corporation's manager of exploration, David Tenney, CEng. Mr. Tenney is a qualified person as designated under National Instrument 43-101.

The corporation has installed a weather monitoring station at the Mactung site and during the coming year environmental baseline and other feasibility studies will commence with a view to starting the environmental permitting process in early 2007.

[Tackler]

NTC North American Tungsten begins CanTung mining

2005-09-01 12:04 ET - News Release

Mr. Stephen Leahy reports

OPERATIONS UNDERWAY AT CANTUNG MINE

North American Tungsten Corp. Ltd. has successfully started mining operations at its wholly owned CanTung mine, located on the Northwest Territories-Yukon border.

To date in excess of 35,000 tons of open pit and underground ore have been assembled for milling. The mill is currently processing approximately 900 tons of ore per day, ramping up to its full-rated production capacity of 1,025 tons of ore per day in October.

The corporation's initial shipments of tungsten concentrate are expected to take place in September. CanTung's annual output of 400,000 metric tonne units of tungsten concentrate will represent approximately 7 per cent of global tungsten production.

The recent dynamics of the global tungsten market, dominated by China, has led to record prices in 2005 for this strategic industrial metal. That the corporation has succeeded in bringing CanTung back into production in only three months is a testament to the dedication and diligence of its employees and staff. North American Tungsten also wishes to express its gratitude to its financiers and shareholders for their vision and confidence, and to all those whose efforts have contributed to this historic achievement.

With production under way the CanTung mine has reassumed its role as the Western world's pre-eminent source of tungsten.

[Tackler]

Copper Ridge begins drilling at Kalzas deposit

2005-08-12 12:54 ET - News Release

Mr. Gerald Carlson reports

DRILLING UNDERWAY AT KALZAS HIGH GRADE TUNGSTEN DEPOSIT

Copper Ridge Explorations Inc. has commenced drilling at its Kalzas high-grade tungsten deposit in central Yukon. The company believes that the Kalzas deposit has the potential to support a high-grade mining development targeting near surface, open pittable mineralization at grades of approximately 1 per cent WO3 (tungsten trioxide). The program will consist of seven to eight holes for a total of 700 metres.

Kalzas is a porphyry-style tungsten deposit that contains a stratigraphically controlled, tabular, high-grade zone in the central part of a large, low-grade deposit. To date, the high-grade zone has been tested only by surface trenching. The drilling will test below high-grade trenches where previous sampling by Copper Ridge obtained results of 1.0 per cent to 2.5 per cent WO3 over widths of one to six metres. Geological observations suggest that these high-grade zones have a steep and elongate orientation within a broader zone up to 100 metres wide and at least 400 metres along strike.

Tungsten prices have increased dramatically over the past 12 months as demand has increased while Chinese supplies have diminished. Mid-market WO3 concentrate, as reported in the Northern Miner, has increased from $5,500 (U.S.) per ton to $19,250 (U.S.) per ton ($9.60 (U.S.) per pound) over the past 12 months. A recent article in the Economist reports the price of ammonium paratungstate (APT), a refined tungsten product, at over $22,000 (U.S.) per tonne.

Copper Ridge has the right to earn a 100-per-cent interest in the Kalzas property by spending $300,000, paying $75,000 and issuing 200,000 shares over 4-1/2 years, plus a 200,000 share bonus on a production decision. The vendors retain a 2-per-cent NSR, 1-per-cent of which can be purchased for $500,000.

[Tackler]

Primary Metals buys new low-profile mine equipment

2005-08-19 14:35 ET - News Release

Mr. James Robertson reports

PRIMARY METALS INC.: NEW low-profile MINE EQUIPMENT ARRIVING AT PANASQUEIRA

Primary Metals Inc., further to its news dated June 15, 2005, in Stockwatch, has completed the planned acquisition of new mine equipment. Three new low-profile load/haul/dump (LHD) underground mining units are arriving at the company's operating Panasqueira tungsten mine in Portugal together with two low-profile jumbo boom underground drilling rigs. A third low-profile jumbo drill rig is scheduled to arrive by the end of October, at which time all planned mine equipment acquisitions will be on-site and the entire mine will be operated using new, low-profile equipment.

The advantages of using the low-profile equipment include mining less waste rock and, together with improvements in operating schedules and efficiencies, result in the delivery of an increased tonnage of higher-grade tungsten material to the processing plant. Delivery of these new mining units has been earlier than expected and will enable the company to take greater advantage of the current, high tungsten prices when operations resume by the end of this month, following the scheduled annual August vacation period.

In addition, underground development drilling will be under way at that time, followed by new underground dumper units for additional underground mine development. The acquisitions are being financed by a combination of lease-to-own arrangements and cash from current operations.

The mine hoist from level 3, where much of the current mining activity is focused, to level 2, where the mined ore is crushed and conveyed to surface, is also being rebuilt and recabled in preparation for extended hours of operation at the end of this month. Approximately one-third of the underground conveyor belt is also being replaced with new material.

The processing plant is also being refurbished and mill availability has been increased from two to three shifts per day, five days per week. New processing equipment has been ordered for delivery later this fall; an increase in tungsten recovery is expected as a result at that time.

The capital expenditures for this current initial phase of mine improvement and new development total $1.5-million (U.S.) to date. Further expenditures are planned to improve efficiencies and production levels and to undertake further mine development including completion of access to level 4, which is 90 metres below the current level 3 mining level, and will provide tungsten ore in future years.

The Panasqueira mine has a long history of production of high-quality wolframite concentrates and is a dominant producer of tungsten concentrates outside China. Recent news releases and further information concerning primary is available on the company's website and under Primary's profile at SEDAR.

[Tackler]

SUL Sultan plans more drilling for Jersey-Emerald

2005-08-09 20:08 ET - News Release

Mr. Arthur Troup reports

SULTAN MINERALS RESUMES DRILLING ON MOLYBDENUM & TUNGSTEN PROPERTY

Sultan Minerals Inc. has signed a diamond drill contract with Advanced Drilling Ltd. of Surrey, B.C., to complete a minimum of 1,000 metres of underground diamond drilling on Sultan's 100-per-cent-owned Jersey-Emerald molybdenum and tungsten property, located near the community of Salmo in southeastern B.C. Drilling will commence immediately on the East Dodger zone of the Emerald tungsten mine where sizable molybdenum and tungsten deposits were intersected in two initial holes completed in July (please see news in Stockwatch of Aug. 2, 2005).

Drilling will focus on a recently identified zone of molybdenum mineralization intersected in drill hole 2, which assayed 0.22 per cent MoS2 over its entire 192-foot length, including 5.19 per cent MoS2 over a 3.7-foot-wide intersection near the bottom of the hole. The program will attempt to define the north, east and south margins of the deposit, establish grade trends, and determine the orientation of the high-grade molybdenum mineralization intersected in drill hole 2.

An underground mapping program is being carried out in the East Dodger section of the mine in conjunction with the diamond drill program. Mapping will focus on determining the trend and continuity of molybdenum mineralization exposed in a network of underground workings.

Ed Lawrence, PEng, is managing the underground exploration program. Perry Grunenberg, PGeo, of P&L Geological Services of Lac Le Jeune, B.C., is the company's project supervisor and qualified person for the purpose of National Instrument 43-101, standards of disclosure for mineral projects.

[Tackler]

Ya, that one earned him an assistant appointment.

[Ed Monton]

lol

[echarter]

no. wrong board. this has nothing to do with mining or metals.

[skiisthelimit]

I don't know much about Tungsten but has anyone heard of a stock called NAUC ipo on the 13th of may. Tungsten is medal(steel) right?. Anyway thought I would provide a ticker as a contribution to this board . Nauc is a drop service provider for EBAY and it could have potential in my opinion. check out Net2Auction.com for details. good luck you tungsten investors.

[Tackler]

Build it and they will come...

[echarter]

http://www.siliconinvestor.com/readmsg.aspx?msgid=21515416

[johnlw]

So this is the new place to be?
T's acute sense of play has led us here?

JW

[echarter]

A ton unit is 20 lbs or thereabouts. It is defined as 1% of a ton. So it depends on the tons used. A long ton unit is 22.4 lbs and a metric tonne unit is 22.04 lbs.

Price of tungsten indicated in this article is 11 dollars per lb I believe.

http://www.resourceinvestor.com/pebble.asp?relid=9691

[Tackler]

Noront Resources clarifies Burnt Hill estimate

2005-07-05 14:05 ET - News Release

Mr. Richard Nemis reports

NORONT RESOURCES LTD.: BURNT HILL TUNGSTEN PROJECT NEW BRUNSWICK, CANADA

Noront Resources Ltd., at the request of the TSX Venture Exchange, has provided additional data on its Burnt Hill tungsten property in order to provide some clarification on its recent news as reported in Stockwatch on June 22, 2005.

Noront, in its previous press release, made note of a preliminary estimate of the tungsten mineralization on the company's 100-per-cent-owned Burnt Hill tungsten deposit located in New Brunswick, Canada. Investors are cautioned that this preliminary estimate does not comply with CIM Standards on Mineral Resources and Reserves and is not of sufficient reliability to be considered a resource estimate.

The company cautions that the reserves and resources as reported in news as reported in Stockwatch on June 22, 2005, are considered by the company to be strictly historical in nature and cannot be relied upon. The company has not done the work required to verify the classification of the historical estimate and is not treating the historical estimate as a National Instrument 43-101 defined resource verified by a qualified person.

The historical estimates at Burnt Hill are based upon an extensive surface and underground technical database that is very substantial and that, in the opinion of the qualified person, appears to have been meticulously collected and compiled in a professional manner by the mining and exploration division of a large multinational forest company, Miramichi Lumber (International Paper of New York). The data include numerous geological/geochemical/geophysical reports and maps, scoping study reports, resource/reserve estimate reports, drill logs, assay sheets, daily underground production sheets and records, daily shaft and decline development records, bulk sampling records and metallurgical/processing reports.

It should be noted that the Burnt Hill tungsten deposit has a 137-year history of exploration, development and mining, having been first discovered in 1868. Through its long history it has seen several periods of mining, the first being in 1915 when Acadia Mining entered into an agreement with the Imperial Munitions Board to produce 36 tonnes of concentrate grading 65 per cent tungsten (WO3). Since that time several shafts have been sunk on the property and attempts made at mining, mostly with limited success. Most recently in 1980, a 1,200-foot decline was driven across the deposit and a 13,600-tonne bulk sample extracted for testing on-site and at Lakefield Laboratories. Unfortunately access to the historical workings is not possible at present although it is believed that the decline and main shaft could be dewatered if required.

While the technical database on the Burnt Hill deposit appears to accurately and fairly represent the nature of the Burnt Hill property, it has not been presently possible to conduct a confirmatory sampling program to properly verify the existing underground, drill or assay data (due mainly to an absence of any historical drill core, surface exposures or underground access). For this reason it has been recommended that an in-fill verification drilling program as outlined in the Howe report be conducted and that the database be completely validated thus allowing a fully compliant NI 43-101 resource estimate to be prepared. As previously reported, the company is planning on conducting a major 4,500-metre confirmatory and exploration drilling program this summer in order to provide sufficient information to confirm previous data and allow updating of historical estimates through the preparation of a fully compliant NI 43-101 resource estimate.

Much of the historical work, particularly from the 1970 to 1980 era has concentrated on the No. 2 vein which is the thickest and most persistent of the known vein systems as presently understood. The proposed confirmation and exploration drilling as recommended falls entirely within the defined confines of the No. 2 vein system with individual drill holes located on sections surrounded by existing drill holes and/or underground workings. There are large areas of the deposit that lack adequate drilling and the drill coverage needs to be intensified. The purpose of the drilling is to both confirm the mineralization as historically defined and, once confirmed, to increase the tonnage potential by infill drilling within the confines of the No. 2 vein.

At the request of Noront, P & E Mining Consultants Inc. has recently prepared an "order of magnitude" estimate of the additional tonnage that could conceivably be defined by carrying out the drilling program as recommended. This potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in a discovery of a mineral resource.

In preparing the tonnage estimate P & E calculated a potential volume by extending known mineralized intercepts in existing holes through to the proposed drill holes. The potential mineralized zones were then extended to a maximum of 100 feet beyond the proposed hole in a downdip direction and halfway to the next section (100 feet) in an along strike direction. A tonnage factor of 12 cubic feet per ton was then applied to the calculated volume in order to arrive at an estimated tonnage. This exploration target was determined for areas outside of the area of the historical resource estimate.

The company stated in news as reported in Stockwatch on June 22, 2005, that "it is possible that the tenor of the mineralization will increase at depth as the margin of the underlying intrusion is approached. It is expected that the grade of accessory metals such as tin, molybdenum and bismuth could increase with depth."

There are several lines of evidence for this.

Nearby properties such as Tin Hill are interpreted to be at a deeper erosional level and hence slightly more proximal to the source intrusion. As the name implies, Tin Hill is dominated by tin mineralization and apparently reflects a near intrusive enriched tin environment. The conceptual Gemcom modelling by P & E shows that on a level-by-level basis through the deposit the existing data for molybdenum reflect an increasing molybdenum content with increasing depth. No data are available for tin. Reportedly some of the deeper holes at Burnt Hill had visible tin mineralization.

While these observations and general data are not conclusive proof of increasing metal grades with depth they are at least consistent with a general geological model that allows for such a possibility.

The company is encouraged about the prospects for its Burnt Hill tungsten project, especially given recent increases in the price of tungsten. Although tungsten is currently in a rising price trend, the potential investor is cautioned that there cannot be any assurance that the price of tungsten will continue to increase or even maintain current levels and price volatility could occur. Professional metal companies such as Roskill maintain websites that generally provide a balanced view of historical and predicted metal price trends and a potential investor is referred to such Internet sites for more information on the subject.

The qualified person responsible for overseeing and reviewing the technical data on the Burnt Hill project is Dr. W. D. Ewert, PGeo. The technical information prepared for disclosure in the Burnt Hill news releases has been approved by Dr. Ewert.

[Tackler]

SUL...

[Tackler]

Sultan receives approval for Invincible purchase

2005-05-27 16:18 ET - News Release

Mr. T.J. Malcolm Powell reports

SULTAN RECEIVES EXCHANGE ACCEPTANCE FOR TUNGSTEN MINE ACQUISITION (TUNGSTEN @ US$17.50/LB) (MOLYBDENUM @ US$38.50/LB)

Sultan Minerals Inc. has received TSX Venture Exchange acceptance for its purchase of 100-per-cent interest in the Invincible tungsten mine, located approximately six kilometres south of Salmo, B.C.

Under the terms of the purchase agreement, Sultan purchased the property for $3,000 and 9,000 common shares of Sultan common stock. In exchange for the above cash and share payments, Sultan acquires a 100-per-cent right, title and interest in and to the property, subject only to:

a 2-per-cent net smelter return royalty (NSR), which Sultan may, at its discretion, reduce to a 0.5-per-cent NSR by the payment of $150,000 to the seller after the completion of a positive feasibility study; and an annual advance royalty payment of $3,000, which will commence in year 2010.

No common shares will be issued as bonuses, finders' fees or commissions in connection with this transaction. The common shares issued pursuant to the agreement have a four-month hold period that will expire on Sept. 25, 2005.

Tungsten

The 7.4-hectare Invincible mine property is situated adjacent to Sultan's Emerald tungsten mine, which was Canada's second largest tungsten producer from 1943 to 1973. The mine is accessible by means of a 1.5-kilometre-long decline that extends north from the decommissioned Emerald tungsten mine. Placer Dome operated the Invincible tungsten mine from 1971 until 1973, when it was decommissioned due to falling tungsten prices. Over its two-year life the mine produced 283,000 tonnes grading 0.65 per cent WO3. Recoverable reserves still existed at the time of mine closure and Placer Dome's historic mine records state that "the ultimate production if the mine had continued until exhaustion of all known reserves would have been 343,000 tonnes grading 0.66 per cent WO3." The historic mine records also show that geological conditions favourable for tungsten mineralization may extend north of the property for more than 2,000 metres on to claims presently owned by the company.

Note: These are historical reserves only and do not conform to guidelines for reserves according to National Instrument 43-101, nor should it be assumed that any such reserves will be developed on the property.

Molybdenum

Mine records report that during the development of the Invincible mine in 1971 a molybdenite bearing stockwork of vertical quartz veins was encountered within an intrusive body seen in the main Invincible mine haulage decline. The extent of the zone is unknown but a similar stockwork of widespread molybdenite occurs about 700 metres along strike to the east in a similar intrusive that underlies the East Dodger tungsten mine. Mapping of the Dodger drift revealed molybdenite in a stockwork of east-west trending quartz veins for the entire distance that the drift was in intrusive, about 330 metres. In the Dodger area, a 57-metre-long channel sample taken along a development drift by Sultan in 1995 was found to carry 0.05 per cent Mo, with a 12.1-metre section running 0.11 per cent Mo. During development work by Placer Dome in the 1970s, molybdenite was also intersected in diamond drill core and one remarkable drill core sample ran 4.44 per cent Mo over a four-metre length including a section of 20.8 per cent Mo over 0.8 metre. Readers are cautioned that the molybdenum assays from Placer Dome's work, quoted in this release, are historical in nature and were compiled before the implementation of NI 43-101 reporting standards.

With spot molybdenum prices currently above $80 (U.S.) per kilogram, Sultan is investigating the possibility that a large molybdenum bearing stockwork exists within the intrusive body beneath the tungsten ore deposits. Sultan is currently modelling the historic drill data and plotting the location of all previous molybdenum occurrences. An exploration program consisting of underground sampling and diamond drilling is planned. Please refer to news as reported in Stockwatch on March 2, 2005, and April 18, 2005.

Perry Grunenberg, PGeo, of P&L Geological Services of Lac Le Jeune, B.C., is the company's project supervisor and qualified person for the purpose of National Instrument 43-101, standards of disclosure for mineral projects.

[Tackler]

PMI...

[Tackler]

Tiberon upbeat about Nui Phao project economics

2005-07-12 09:25 ET - News Release

Mr. Mario Caron reports

NUI PHAO FINAL FEASIBILITY STUDY SHOWS SIGNIFICANT ECONOMIC IMPROVEMENT -- IRR INCREASES TO 23.6% -- NPV (7.5%) INCREASES 2.1 TIMES -- TUNGSTEN RECOVERY UP TO 66%; BISMUTH RECOVERY DOUBLES -- OPERATING CASH FLOW UP 50% -- CAPEX UP 9% TO US$229.8 MILLION; OP COSTS DOWN 4%

Tiberon Minerals Ltd., on behalf of the Nui Phao Mining Joint Venture Company Ltd. (Nuiphaovica), has completed a positive final feasibility study for its 77.5-per-cent-owned Nui Phao tungsten/fluorspar deposit in Vietnam. Prepared by Aker Kvaerner, the study highlights improved metallurgical recoveries and lower operating costs, producing a higher rate of return and net present value.

The study favourably concludes that an open-pit mine can now produce 76,000 tonnes of tungsten trioxide, 3.5 million tonnes of acid-grade fluorspar concentrate, 32,000 tonnes of bismuth, along with copper and gold over a 16.3-year mine life, generating a 23.6-per-cent rate of return.

"The results of the study confirm that Tiberon will become a leader in the tungsten/fluorspar industry as one of the world's largest and lowest-cost producers of these strategic commodities," said Tiberon's chief executive officer, Mario Caron. "With the recent receipt of our mining licence and environmental impact assessment approval earlier this year, we remain firmly on track to meet our projected start-up and commissioning in the latter part of 2007."

[Tackler]

TBR...

[Tackler]

DYN...

[Tackler]

DYN Dynacor Mines to purchase Pasto Bueno mine

2005-07-05 08:40 ET - News Release

Mr. Marc Blais reports

DYNACOR TO ACQUIRE TUNGSTEN MINE

Dynacor Mines Inc. has entered into a letter of intent to acquire a 100-per-cent interest in the Pasto Bueno mine owned by Minera Malaga Santolalla S.A.C. The mine is located in northern Peru, 830 kilometres from the city of Lima. The property consists of 24 concessions for a total of 400.55 hectares, and the mine produces primarily tungsten, but there is also copper, zinc, lead and silver. The mine, which stopped its activities in 2003, has two mills with 250 tonnes per day and an 800-tonne-per-day capacity.

Mine production started in 1939 and the company was incorporated in 1941. In 1981, production was up to 1,000 tonnes per day. The mine also has two hydroelectric plants of 100- and 1,000-kilowatt capacity. The tungsten quality rating is still referred to as Malaga quality, because the tungsten produced at this mine was one of the finest worldwide.

A European company, which formerly had an interest in the mine, invested $3.6-million (U.S.) to develop reserves and increase mill capacity before the price for tungsten decreased to approximately $30 (U.S.) per metric tonne. When the mine closed in 2003, records located at the mine indicated an average grade of the production of 1.5 per cent tungsten trioxide (WO3) and 2.7 per cent copper. The prices for tungsten have recovered in the past few months from $50-(U.S.)- to $160-(U.S.)-per-tonne units.

Terms of the agreement

Dynacor will have until Nov. 6, 2005, to complete due diligence and definitive documentation, and is obliged to pay the current owner a non-refundable deposit of $100,000 (U.S.) by July 6, 2005. The company will then be able to acquire 100 per cent of the property in consideration of a final payment of $1.15-million (U.S.) for a total of $1.25-million (U.S.). The acquisition is also subject to regulatory approval. As part of the due diligence, Dynacor will retain an independent qualified person to prepare a technical report pursuant to the terms of National Instrument 43-101 in order to support the acquisition.

Upon satisfactory due diligence results, Dynacor will enter into definitive documentation to acquire the Pasto Bueno mine on the following terms:


Dynacor becomes the operator immediately upon entering into definitive documentation;
a 100-per-cent interest will be earned in the Pasto Bueno mine upon payment to the existing shareholders of $1.15-million (U.S.);
debt assumption of the selling company (Minera Malaga Santolalla S.A.C.) of approximately $700,000 (U.S.); and
payment of a maximum of $1-million (U.S.), in royalty form, payable only when the mine is in production and when the tungsten trioxide price is more than $80 (U.S.) per million thermal units.

Tungsten prices

Tungsten prices and many tungsten statistics are quoted in units of tungsten trioxide (WO3). The short ton unit (STU), used in the United States, is 1 per cent of a short ton (20 pounds) and tungsten trioxide is 79.3 per cent tungsten. Therefore, a short ton unit of WO3 equals 20 pounds of WO3 and contains 7.19 kilograms (15.86 pounds) of tungsten. The metric ton unit ("MTU"), used in most other countries, is 1 per cent of a metric ton (10 kilograms). A metric ton unit of WO3 contains 7.93 kilograms (17.48 pounds) of tungsten.

Market

The Chinese, which control roughly 75 per cent of the world's reserves in the metal, and supply about 85 per cent of world consumption, are currently producing roughly 50 thousand tons per year. The Chinese and to some extent, the Russians, have pushed the price down in the past by flooding the market with cheap tungsten, therefore drastically reducing the global inventory.

Today, the Chinese are focusing on finished product tungsten goods and took measures to curb tungsten exports in order to boost supply inside the country for their own consumption.

In 1986, the USSR was the world's largest consumer but, by 1992, the reformed CIS was exporting tungsten and by 1996 was the world's second-largest supplier. The other principal producing countries today are Austria, Bolivia, Peru and Portugal.

Characteristics

Pure tungsten is steel-gray to tin-white and is a hard metal. Tungsten can be cut with a hacksaw when it is very pure (it is brittle and hard to work when impure) and is otherwise worked by forging, drawing or extruding. This element has the highest melting point (3,422 C or 6,192 F), lowest vapour pressure and the highest tensile strength at temperatures above 1,650 degrees C (3,002 degrees F) of all metals. Its corrosion resistance is excellent and it can only be attacked slightly by most mineral acids. Tungsten metal forms a protective oxide when exposed to air, but can be oxidized at high temperature. When alloyed in small quantities with steel, it greatly increases its hardness.

Uses:

metal cutting tools;
military applications;
high-speed tool steels (drilling bits);
chemicals/catalysts;
wear resistance parts;
superalloys; and
light bulbs, electronics and electrical industry.

Ivan Quiroz, mining engineer and metallurgist, is a member of the Collegio de ingenieros del Peru. He is the qualified person (QP) and is responsible for the technical information contained in this news.