Woulfe Mining Corp has received encouraging results from eight diamond drill holes of its phase 6 exploration drilling program on the Hangingwall Deposit (HW) at the Sangdong Tungsten Project. This infill drilling confirmed the predicted NI 43-101 inferred resource estimate from AMC Consultants’ 2014 geology block model.

Best results from the first eight diamond drill holes of the phase 6 HW Deposit drilling program on 20 metre centres, with assays performed by SGS in Australia, are: 19.9 metres from 66 metres @ 0.56% WO3, 19.4 metres from 18.0 metres @ 0.87% WO3, 43.4 metres from 0 metres @ 0.52% WO3, 26.8 metres from 22 metres @ 0.94% WO3, 15.6 metres from 8.5 metres @ 0.54% WO3, 30.2 metres from 0 metres @ 0.55% WO3, 3.7 metres from 6.0 metres @ 0.41% WO3 and 24.8 metres from 12.0 metres @ 0.77% WO3.

Grade and thicknesses have approximately a 92% and 97%, respectively, correlation between the drilling and the AMC block model within the same boundaries. This extremely close correlation of resource estimates from infill drilling and predicted results from the block model are relatively rare.

With these initial results, Woulfe’s confidence is significantly increased that AMC’s NI 43-101 inferred resources are as stated to date and the current and future drilling will upgrade them to the indicated resource category. The eight diamond drill holes confirmed a well-defined resource of 419,000 tonnes at a grade of 0.66% WO3 in the HW Deposit.

These extremely encouraging results are from drilling in one area of AMC’s approximately 11 million tonnes of inferred resources. Woulfe will only re-assess the conversion rate of inferred resources to potentially mineable resources when a number of areas within the inferred resources have been drill tested and correlated to the AMC Woulfe Mining, through its wholly-owned subsidiary, Sangdong Mining Corporation, is dedicated to developing the Sangdong tungsten-molybdenum mine which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits located outside of China.