NOMI - Exploration program for tungsten (wolfram)
Nordic Mining holds 6 mineral claims for tungsten in Målvika, Norway.
Previous studies and geological mapping of the area have disclosed significant tungsten resources. An estimated resource of 2.5 mill. tons ore containing 0.7 - 0.9% WO3 is indicated. At such level, Målvika is among the largest tungsten resources in Europe. A prospectus describing the resources was prepared in 2001 (the prospectus is available at www.nordicmining.com).
Previous studies and geological mapping of the area have disclosed significant tungsten resources. An estimated resource of 2.5 mill. tons ore containing 0.7 - 0.9% WO3 is indicated. At such level, Målvika is among the largest tungsten resources in Europe. A prospectus describing the resources was prepared in 2001 (the prospectus is available at www.nordicmining.com).
The commercial potential for tungsten is raised in the last years due to significant price increase; from USD 50 to approximately USD 250 per mtu (metric ton unit) in 5 - 6 years. A metric ton unit contains 10 kg WO3 which holds 7.93 kg of tungsten. Consequently, Nordic Mining will assess the possibilities in Målvika with increased focus.
As a first phase, Nordic Mining will conduct exploration program in Målvika starting in 2007. The purpose will be to achieve better understanding of the geological structures and the possibilities to advance to project preparations.
For questions please contact CFO Lars K. Grøndahl, telephone + 47 - 901 60 941.
Oslo, 9 February 2007
Nordic Mining ASA