Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Demesne Resources Ltd. ( (TSE:TUNG) ) has provided an announcement.
American Tungsten Corp. reported new underground drilling results from its IMA Project in Idaho, showing significant tungsten-silver intercepts that extend the No. 5 and No. 7 vein system more than 300 feet up-dip and 350 feet along strike. Management says the consistency and lateral extent of mineralization support the scale of the project and bolster confidence in moving toward a modern resource estimate and possible mine restart.
Recent holes intersected multiple mineralized zones, including intervals such as 14.2 feet grading 0.67% WO3 with 1.15 oz/t silver and 17 feet grading 1.28% WO3 with 3.53 oz/t silver, while additional assays are still pending. The company has now completed roughly 5,000 feet of drilling across 14 holes on the D and Zero levels, with ongoing work designed to further test continuity of the tungsten-silver vein system up-dip and along strike, which could enhance the project’s economic potential and strategic relevance in the tungsten supply chain.
More about Demesne Resources Ltd.
American Tungsten Corp. is a mineral exploration and development company focused on advancing the IMA Mine in Lemhi County, Idaho, a past-producing underground operation with tungsten and silver-bearing vein systems. The company is targeting the delineation of a modern tungsten-silver resource through underground drilling, with an eye toward potentially restarting mining operations in a strategically important critical mineral sector.
Average Trading Volume: 329,320
Technical Sentiment Signal: Buy
Current Market Cap: C$113.8M
For an in-depth examination of TUNG stock, go to TipRanks’ Overview page.