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Metallic Minerals Limited's Wolfram Camp tungsten-molybdenum project, 90km west of Cairns in Qld, has been under care and maintenance since late 2008. In May, 2010 the company's 76% owned-subsidiary, Planet Metals Limited released a revised total resource estimate of 1.42Mt grading 0.6% WO3 and 0.12% Mo comprising 0.78Mt grading 0.56% WO3 and 0.13% Mo in Indicated Resources and 0.64Mt grading 0.65% WO3 and 0.11% Mo in Inferred Resources. Planet Metals Limited also undertook studies into enhancing the run of mine pre-concentrate in order to improve the mill-feed grade. In May 2011, Planet Metals Limited announced it had successfully undertaken a Share Sale Agreement with Deutsche Rohstoff AG to sell its 100% owned subsidiary, Wolfram Camp Mining Pty Ltd, which holds an 85% stake in the Wolfram Camp tungsten-molybdenum project.
Vital Metals Limited's 100% owned Watershed scheelite project, 150km northwest of Cairns, Qld, has an Indicated Resource of 15.1Mt at an average grade of 0.46% WO3 using a cut-off grade of 0.10% WO3, for 69 300 tonnes of contained WO3. The company has completed a pre-feasibility study, including a full Environmental Impact Study, which has been accepted by the Queensland Environmental Protection Agency. However, the 2008-09 decline in tungsten prices had an adverse impact on the project's economic viability. The subsequent price increase in late 2010 resulted in Vital Metals Limited undertaking a review of the pre-feasibility study. In May 2011 Vital Metals Limited announced it had entered into an earn-in agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC) for 30% of the Watershed project by funding completion of a bankable feasibility study for the project. JOGMEC confirmed the farm-in in August 2011.
The Dolphin Joint Venture between King Island Scheelite (KIS) and Chinese Hunan Nonferrous Metals Corporation (HNC) to redevelop the former King Island scheelite mine on southeast King Island off Tas was terminated mid December 2010. HNC transferred its 50% interest in the joint venture assets to KIS's wholly owned subsidiary Australian Tungsten Pty Ltd (ATPL). HNC has a royalty of 2% on future project revenue from the project, capped at $3.9 million. KIS is currently undertaking a feasibility study investigating both retreatment of tailings and re-opening the underground mine. The current development plan is to produce 1000 tonnes of WO3 per annum from tailings from late 2012, increasing to 3500 tonnes of WO3 concentrate with commencement of underground operations in late 2014. King Island Scheelite reported Indicated Resources for the Dolphin Mine and Bold Head Mine at a cut-off grade of 0.25% WO3, as 8.42Mt averaging 0.95% WO3, and 2.3Mt averaging 0.73% WO3, respectively, for a combined total of 96 780 tonnes of contained WO3. Estimates of Probable Reserves were upgraded in August 2011 to 2.69Mt averaging 1.04% WO3, and containing 27 940 tonnes of WO3. In June 2011, the company also reported Measured Resources for the tailings at the Dolphin Mine at a cut-off grade of 0.08% WO3 as 2.7Mt averaging 0.17% WO3, containing 459 000 tonnes of contained 4590 tonnes of WO3.
Venture Minerals Limited announced a JORC-compliant resource upgrade for the Mount Lindsay tin-tungsten deposit in western Tas, with revised combined resources of 43Mt at 0.4% Sn equivalent at 0.2% cut-off) or 10Mt at 0.7% Sn equivalent at 0.45% cut-off. The latter figure includes Indicated Resources of 6.2Mt at 0.4% Sn and 0.3% WO3. The deposit also includes an iron ore resource. The Mount Lindsay prospect is located 15 km northwest of Renison Bell tin mine and 20km west of Rosebery in western Tas. The prospect is in magnetite (Fe3O4) rich skarns within the contact aureole of the Meredith granite, which is part of a suite of Devonian granites that are the source rocks for a number of large tin, tungsten and magnetite deposits in western Tas and on King Island in Bass Strait off Tas. The company completed a successful prefeasibility study for Mount Lindsay in March 2011 that confirmed the economics of the project. The company is undertaking a bankable feasibility study which is expected to be completed in 2012. Ongoing regional and infill drilling has been undertaken during the past year in association with the feasibility study. Infill drilling in the McDonald tin zone (Main Skarn) returned favourable tin results and identified broad zones of tungsten mineralisation, including 30m at 0.35% WO3, and 44m at 0.24% WO3. Venture Minerals Limited submitted a Mining Lease Application for the company's Mount Lindsay project on 15 September 2011.
Thor Mining PLC has reported total Proved and Probable Reserves of 2.21Mt grading 0.47% WO3 and 0.21% molybdenum disulphide (MoS2) for its Molyhil tungsten-molybdenum project, 250km northeast of Alice Springs, NT. Potential development of the project has been hampered by the global financial crisis and decline in international metal prices, resulting in the company subsequently scaling back activities. The company had signed an off-take agreement with CITIC Australia Trading Limited, one of China's largest State-owned companies, committing CITIC to take all of the molybdenum and tungsten concentrates produced from the project. The agreement has now lapsed. The recent increase in tungsten prices has resulted in renewed interest and Thor Mining initiated a definitive feasibility study of the deposit in June 2011. Initial findings were favourable with capital and operating cost estimates for the first phase of production of 1.4 million tonnes of ore to be $66 million and $79 per tonne, respectively with an annual throughput of 400 000 tonnes of ore. The company also undertook drilling in mid 2011 to test extensions of the resource and to better define the known resource. Initial results indicate existence of mineralisation outside the existing resource. Best results include 16m at 0.81% WO3 and 0.44% MoS2 from 189m and 13m at 0.38% WO3 and 0.13% MoS2 from 290m.
Hazelwood Resources Ltd has completed an integrated pre-feasibility study incorporating its Big Hill tungsten deposit, about 220km northwest of Newman, WA, and a ferrotungsten (FeW) project in Vietnam. Asia Tungsten Products Company Ltd (60%-owned by Hazelwood Resources Ltd) is constructing a FeW plant in the Vihn Bao district near the Port of Haiphong in northern Vietnam. The company is currently undertaking a definitive feasibility study for the Big Hill deposit, including further metallurgical test work. Stage 1 of the Vietnam ferrotungsten plant was finalising practical completion in June 2011, with cold commissioning expected August, 2011 and hot commission and trial production some time later. Stage 1 of the plant is expected to have a capacity of approximately 3000 tonnes of contained tungsten in the form of 75% grade ferrotungsten per annum. A decision on stage two, involving the construction of a second furnace, is yet to be made. If undertaken this would increase capacity to around 6000 tonnes of contained tungsten, enough to supply 25% of projected global demand. The company indicates it plans to develop the Big Hill project and begin production from by 2013 with the deposit providing most of the feedstock for the Vietnam ferrotungsten project.
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