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Demesne Resources Ltd. ( (TSE:TUNG) ) just unveiled an announcement.
American Tungsten Corp. reported strong initial underground drilling results from its Phase 1 program at the IMA Tungsten Project in Idaho, with all four reported holes intersecting significant tungsten-silver mineralization in the No.5, No.7, and No.9 vein systems. Highlight intercepts include 31 feet grading 0.48% WO3 and 1.84 oz/t silver and 11.1 feet grading 1.08% WO3 and 2.05 oz/t silver, supporting the potential to define a mineral resource and revealing a silver system that could help offset future operating costs.
The company has completed 10 underground drillholes totaling about 3,800 feet on the D-level, with assays for additional holes pending and more drilling planned from multiple stations. Management said the focus now shifts to advancing metallurgical work to move the project toward development, signaling progress in de-risking the asset and potentially strengthening American Tungsten’s positioning in the tungsten supply chain as it modernizes a historic U.S. mine.
More about Demesne Resources Ltd.
American Tungsten Corp. is a Vancouver-based exploration and development company focused on advancing the IMA Mine tungsten project in Lemhi County, Idaho. The company targets high-grade tungsten and associated silver mineralization, aiming to apply modern exploration methods to a historically underexplored asset and move it toward production.
Average Trading Volume: 358,196
Technical Sentiment Signal: Buy
Current Market Cap: C$109M
Find detailed analytics on TUNG stock on TipRanks’ Stock Analysis page.