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Tungsten Mining has intersected tungsten mineralisation up to 45m thicker than predicted at its Mt Mulgine project in Western Australia, strengthening the potential for a significant resource expansion.
Initial results from 16 reverse circulation (RC) drill holes at the Mulgine Trench deposit have returned broad tungsten intersections, including a standout 292m at 0.11 per cent tungsten trioxide (WO3) from 2m.
The results form part of a 140-hole, 40,000m resource expansion drilling program designed to test mineralisation beyond the project’s existing geological model.
Other significant intersections included 290m at 0.10 per cent WO3 from 10m, 264m at 0.11 per cent WO3 from 24m, and 257m at 0.11 per cent WO3 from 2m.
Tungsten Mining chairman Gary Lyons said the results demonstrated the potential to expand the company’s existing tungsten inventory.
“These initial results are highly encouraging and reinforce the significant resource growth potential at Mt Mulgine,” he said.
“Broad tungsten intersections, including areas materially thicker than predicted, have exceeded expectations and strongly support our ambition to expand an already globally significant tungsten resource.”
Located approximately 350km north-northeast of Perth, Mt Mulgine hosts an existing mineral resource estimate of 247 million tonnes (Mt) at 0.11 per cent WO3.
The expansion program is targeting an additional conceptual 165–200Mt at grades of 0.10–0.12 per cent WO3, although further exploration is required before this material can be classified as a mineral resource.
In early September, Tungsten Mining outlined an initial $870 million development for Mt Mulgine, targeting first production for 2029, with a pre-feasibility study (PFS) that was based on an initial eight-million-tonne-per-annum operation and a returned pre-tax net present value of $6.82 billion.
This PFS was supported by an updated probable ore reserve of 144 million tonnes at 0.10 per cent tungsten trioxide, which was up nine million tonnes from the maiden ore reserve declared in 2021.
The most recent drilling across the northeastern and central sections of Mulgine Trench encountered mineralisation extending between 20m and 45m beyond predicted depths, with several holes ending in mineralisation.
Results from the southwestern section also revealed mineralisation extending up to 40m deeper than expected.
Beyond tungsten, drilling has identified significant molybdenum and gold mineralisation, highlighting the potential contribution of by-product metals to future project economics.
Notable results included 66m at 681 parts per million molybdenum, alongside gold intersections of 6m at 5.49 grams per tonne (g/t) and 10m at 3.67g/t.
Of the planned 140 RC holes, 50 have been completed for 14,140m, with assays pending for the remaining completed holes.
The results come as Tungsten Mining advances its staged development strategy, with the Watershed project remaining its immediate development priority while Mt Mulgine represents a longer-term growth opportunity.
“Our development strategy remains clear. Watershed is our immediate priority as we progress towards FID and secure the most capital-efficient funding structure. Its development timetable complements the advancement of Mt Mulgine,” Lyons said.
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