Wolf shares up on Hemerdon resource estimate

Subiaco-based Wolf Minerals Ltd has confirmed a previous JORC resource estimate at its wholly owned Hemerdon Ball tungsten and tin deposit in Devon, United Kingdom.

The company has reported a maiden JORC resource estimate of 82Mt @ 0.22 per cent tungsten trioxide, or wolframite (WO3) and 0.022 per cent tin (Sn) in the inferred category.

Wolf shares closed up 5 cents, or 4.35 per cent, to $1.20 each.

Managing director Humphrey Hale said he was pleased with the outcome of the estimate, completed by the Perth office of SRK Consulting, which updated a previous (non-JORC) estimate produced as part of the feasibility study by North American mining company AMAX in 1981.

"The JORC resource announced today both confirms previous resource estimates as reported within the planning approval pit design and also significantly upgrades the global resource in both tonnage and grade" Mr Hale said.

Wolf is currently planning a small drill programme of geotechnical and metallurgical work to assist the updating of the 1982 study and to pave the way for a full feasibility study.

The drilling planned is also expected to allow a significant proportion of the resource estimate to be upgraded to the indicated category.

Planning approval exists until 2021 to commence mining.