American Tungsten (TSX-V:TUNG) has defined a mineral resource estimate (MRE) for the IMA Mine Project in the US, validating the company’s view that it hosts a ‘high-grade’ tungsten system with scale and growth potential.
The MRE contains an indicated resource of 316,000 tonnes @ 0.55% tungsten oxide (WO3), containing 1,747 tonnes WO3 and 404,000 ounces of silver (Ag), and an inferred resource of 2.18 million tonnes @ 0.55% WO3, containing 11,933 tonnes of WO3 and 1.84 million ounces of Ag.
An additional 267,000 tonnes of indicated resources @ 0.16% WO3, containing 413 tonnes of WO3 and 79,000 ounces of Ag, are contained in the surface tailings from previous mining on fee simple land controlled by American Tungsten.
CEO Ali Haji says IMA’s combination of grade, historical production, existing underground infrastructure, and a surface tailings resource creates a differentiated path toward potential near-term production.
“Our focus now is to continue expanding and upgrading the resource while advancing the technical work required to demonstrate IMA’s economic potential and its prospective role in strengthening the US critical minerals supply chain,” Haji says.
The company believes the MRE reinforces the significance of IMA, which benefits from extensive underground development, patented mineral claims, existing surface tailings, and a growing understanding of the mineralised system through ongoing exploration.
Next steps
Drilling is ongoing at IMA, with two underground drill rigs and one surface rig operating.
American Tungsten is focusing its exploration work on supporting future resource and economic studies. Work is underway to develop an additional crosscut into the footwall of the D-level vein system ahead of an infill drilling program aimed at converting inferred resources to higher-confidence categories.
The company plans to advance a preliminary economic assessment, continue resource expansion and infill drilling, and undertake further metallurgical test work and engineering studies.
American Tungsten will also further evaluate underground development opportunities and advance environmental, engineering, and permitting initiatives.
In conjunction, the company will continue to evaluate a phased path toward restarting domestic tungsten production, including potential processing of surface tailings as a lower-capital initial phase.
IMA is a past-producing underground tungsten mine, situated on 22 patented claims in east-central Idaho, US.
American Tungsten is a Canada-based explorer and developer focused on advancing IMA toward commercial production.
Write to Aaliyah Rogan at Mining.com.au
Images: American Tungsten
