EQ Resources Starts Major Drilling Push to Extend Mt Carbine Tungsten Mine

An update from EQ Resources Limited ( (AU:EQR) ) is now available.

EQ Resources has launched a four-month drilling campaign at its Mt Carbine Tungsten Mine in North Queensland, aiming to convert more of its existing resource into reserves and extend the life of the operation. The program, covering 28 holes and about 7,700 metres using both diamond and RC rigs, targets several key ore zones around current pit designs to improve geological confidence and refine future mine plans.

The initiative comes amid strong tungsten prices and follows Mt Carbine’s move into higher-grade in-situ ore, supporting a planned resource and reserve update in late 2026. Progressive assay results over the next three to six months are expected to clarify the potential for higher-grade shoots and extensions at depth and along strike, underpinning possible production growth and longer mine life for the benefit of employees, contractors, local suppliers and downstream customers seeking Western tungsten supply.

The most recent analyst rating on (AU:EQR) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

More about EQ Resources Limited

EQ Resources Limited is a global tungsten producer with mining operations in Australia and Spain, focused on supplying secure, reliable and traceable Western tungsten into global markets. Its flagship Mt Carbine Tungsten Mine in North Queensland currently has an eight-year reserve life and recently gained access to higher-grade in-situ ore, positioning the operation for increased production.

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Technical Sentiment Signal: Buy

Current Market Cap: A$1.52B

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