IRIS Metals (ASX:IR1) has begun field activities at its Finley Basin Tungsten Project in Montana ahead of a planned 7,000m core drilling program in Q3 2026.
The work follows a review of historical exploration data from Union Carbide and the submission of state and federal drill permit applications in March.
Field activities commenced in June to locate scheelite mineralisation and mark previously used access tracks and drill pads, which assists the permitting process.
Chairman Chris Evans says the start of field activities is ‘significant’ as IRIS advances the project from exploration to a modern drilling campaign.
“Located in a premier mining jurisdiction, Finley Basin provides exposure to tungsten, a strategically important metal with growing applications across defence, aerospace, energy, electronics, and advanced manufacturing,” Evans says.
“As global demand continues to increase and Western governments prioritise supply chain security, Finley Basin is extremely well positioned.”
The planned program spans up to 7,000m across 16 core drill holes using skid-mounted drill rigs. It aims to verify and expand mineralisation discovered by Union Carbide in the late 1970s and early 1980s.
Union Carbide defined a historical non-JORC estimate of 771,107 tonnes at 0.68% tungsten trioxide based on 10 drill holes in the core of the mineralised area.
Proposed drill holes for the 2026 program are located on historical Union Carbide drill pads, allowing for twin drilling and oriented drilling targeting mineralised horizons.
Finley Basin lies 16km east-northeast of Philipsburg and approximately 30km from a fully permitted 907 tonne per day contract flotation mill.
IRIS expects to finalise drilling permits in Q3 2026, with initial drilling results anticipated in the Q4 and geological model refinements planned for the first half of 2027.
IRIS Metals is a North American critical minerals explorer and developer with projects in Montana and South Dakota, US.
Write to Paula Fabe at Mining.com.au
Images: IRIS Metals
