Molybdenum is a silver-white metallic element, used as an alloy with iron in making hard, high-speed cutting tools.
"Zuun Mod continues to impress our technical team with these latest results further defining two large open pit targets which is exciting given we have only drill-tested a small portion of the known molybdenum and copper anomaly" said Peter Akerley, President and C.E.O. "As China moves to restrict molybdenum exports and foreign investment in molybdenum projects and producers announce reductions in future supply, the market is undergoing significant tightening."
Of particular note is that the new deposits have been found close to the surface and extend for up to 231 meters in initial estimates.
Friday, 30 November 2007