Almonty commences new drilling program at Panasqueira Mine

Almonty (ALM) Industries “announced the commencement of a large-scale drilling program at its Panasqueira Mine in Portugal, with the objective to define the mine plan for the expansion into Level 4, a new production level. The drilling program also aims to support an increase in annual output and a potential extension of the mine’s operational life. Level 4 will be explored through surface and underground diamond drilling covering a total of approximately 14,000 meters using three rigs, which is expected to extend over a 12-month period at an estimated investment of EUR 2.5 million. This drilling program builds upon prior exploration campaigns, which confirmed the presence of mineralized veins in the target area. The results are expected to allow Almonty to update the resource model, calculate new inferred resources, and guide future production planning.”