Iris Metals Secures Historic Data and Advances Permitting for U.S. Tungsten Project

Iris Metals Limited ( (AU:IR1) ) has provided an update.

Iris Metals has acquired historical Union Carbide exploration data for its Finley Basin Tungsten Project in Montana, including drill logs, assays, geological interpretations and regional sampling, for a consideration of US$7,500. While the dataset does not allow reconstruction of earlier non-JORC historical reserve estimates, it is expected to enhance geological understanding of the tungsten-rich skarn system and guide future work.

In parallel, the company has lodged an Exploration Plan of Operations with the U.S. Forest Service and an Exploration License application with Montana regulators for a 2026 drilling campaign of 16 holes totalling more than 7,000 metres. Targeting drill mobilisation in the third quarter of 2026, Iris aims to recreate and expand on historical Union Carbide resources, strengthening its exposure to a domestic tungsten asset at a time when the U.S. is heavily import reliant and prices are rising amid Chinese export controls, underscoring potential strategic value for stakeholders.

The most recent analyst rating on (AU:IR1) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on Iris Metals Limited stock, see the AU:IR1 Stock Forecast page.

More about Iris Metals Limited

Iris Metals Limited is an Australia-listed exploration company focused on building a multi-commodity critical minerals portfolio in the western United States. Its key interests include the high-grade Finley Basin Tungsten Project in Granite County, Montana, positioning the company in strategic U.S. supply chains for defence, industrial and electrical applications where tungsten is deemed essential.

Average Trading Volume: 534,321

Technical Sentiment Signal: Sell

Current Market Cap: A$24.84M

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