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Demesne Resources Ltd. ( (TSE:TUNG) ) has issued an update.
American Tungsten Corp. has advanced its underground drill program at the IMA Mine in Idaho, completing 2,120 feet of drilling across six holes from the first D-level drill station and intersecting quartz veins with hubnerite mineralization over a broad area, with assays still pending. The company has finished drifting to a second drill station, expanded its planned Phase 1 drilling to include an additional 3,850 feet from second and third D-level stations, and increased the Zero Level drill program from 6,700 to 8,000 feet, signaling a more aggressive exploration push aimed at delineating multiple tungsten vein systems and supporting its strategy to restart underground mining and position itself as a leading domestic tungsten producer.
More about Demesne Resources Ltd.
American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. Its flagship project is the historic, past-producing IMA underground tungsten mine in Idaho, where the company is working to advance the asset toward commercial production to help address critical metal scarcity in the region. The IMA Mine sits on private patented land with existing infrastructure, and American Tungsten holds an exclusive option to acquire full ownership, subject to a royalty.
Average Trading Volume: 427,777
Technical Sentiment Signal: Buy
Current Market Cap: C$96.86M
See more insights into TUNG stock on TipRanks’ Stock Analysis page.