Basin, Montana – September 9, 2020 – OT Mining (OTC Pink:OTMN) Management and Directors are pleased to announce that the O.T. Mining Corporation has signed two Memorandums of Understanding with two Algerian companies for the purpose of completing a NI 43-101 assessment of previously identified Wolframite deposits in Algeria. Wolframite is highly valued as the main source of the metal Tungsten which is strong and dense. Tungsten is the hardest metal available, very close to the hardness of diamond with a high melting temperature of 2,900 degrees Celsius. Tungsten is used for electric filaments and armor-piercing ammunition, as well as hard tungsten carbide machine tools. Demand for Tungsten is growing, and China is presently the world’s largest producer at 85% of global supply.
At the invitation of the Algerian Ministry of Energy and Mines (ANAM), the President of OT Mining, Rosemary Christensen, led an in-house team of geologists and mining engineers to Algeria in February 2020 to meet with Ministry officials and mining company executives. The purpose of the meetings was to establish what resources OT Mining could assemble to improve the output of various operating mineral extraction and concentration operations in a particular region of the country.
The larger area presented by the Ministry contains fourteen mineralized zones. Previous mineralogy and geochemical studies identified mineralization at depths of one to three meters from the surface, and then extending to depths in excess of three hundred meters. Only six zones have been explored and proven to be of economic value so far. The other eight zones were explored by shallow trenching with promising results. Tin (Sn02) is present sporadically at concentrations of 0.40%. Other minerals present are Gold (Au) at 0.20 grams per ton and Silver (Ag) at 10 grams per ton. Further exploration at depth of the eight mineralized zones has the potential to substantially increase reserves of Wolframite and other base and precious metals.
The Wolframite deposit is located approximately 120 km south-east of Tamanrasset, a city in south-west Algeria. Concentrations of Tungsten Trioxide (WO3) on the property under consideration vary from 1% to 1.4% which is greater than the economically viable threshold of 0.8% to 1%. Quantities of Wolframite have been estimated to be 983,283 tons and concentrations of WO3 average 1.2%.
The two experts from OT Mining went on to Tamanrasset where they inspected several properties including a gold producing mine. High level meetings were held with various government agencies at the invitation of the authorities. All returned safely before the corona virus stopped all travel. Some limited travel is now allowed in Algeria, and the negotiations have resumed after several months of delays.
We will keep you advised of developments abroad and at home concerning the Ruby mine in Montana.
All technical information related to the Algerian trip is translated from material provided by Dr. Ahmed Sabri, Ph.D geology, Director of International Development for OT Mining.
OT Mining Corporation
O.T. Mining is a U.S. junior exploration company whose assets consist of 100% ownership (less a 3% net smelter royalty) of the Ruby gold and silver mine, the Basin Mill facility located in Jefferson County, Montana. The Property is host to gold and silver, copper, lead, zinc, cobalt and molybdenum. OT Mining holds title to a porphyry copper system.
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