Molycor Gold Corp. (MOR.V) reported that Wardrop Engineering, a Tetra Tech company, has completed a preliminary economic assessment for the company's 100% owned Tami Mosi Magnesium Project located in the Schell Creek Range of White Pine County near Ely, Nevada. It said the report suggests an economically attractive opportunity exists to develop the Tami Mosi Magnesium Project within the United States. It said: "The report demonstrates the ability to exploit the resource in excess of 30 years. The conceptual basis of the report is for the project's business operations to be performed within the United States, where protective tariffs are in place on imported magnesium metal. The report is based upon a Resource Estimate Analysis showing the Inferred Resource estimated by Wardrop to be 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of Magnesium using a 12% Mg cut-off grade. No dilution is incorporated in the Wardrop estimate. The increased tonnage and grade over earlier estimates results from the acquisition of 13 more contiguous claims as well as applying block modeling and surface sampling."
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
