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American Tungsten & Antimony (ASX:AT4) has notched modest gains on the Tuesday session as it steps closer towards firing up the diamond drill rigs on-site at its Tennessee Mountain project, hunting for the two most in-vogue defence metals that form the company’s namesake.
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To that end, the Australian company has this week lodged a notice with Nevada State regulators to fire up the maiden drill run, where the explorer’s geotechs will go after previously-logged surface target areas of interest.
The acreage has already had historical workings mapped; American Tungsten & Antimony hopes by staging works in these areas, it can streamline permitting.
Tennessee Mountain is, for all intents and purposes, AT4’s dominant tungsten project, while its antimony acreage is tied up in another project, Antimony Canyon. In the background, drilling there has kicked off with rigs already spinning on-site.
As for Tennessee Mountain specifically, drilling at that project “aims to verify high-grade historical [tungsten] intercepts” and refine modern geological modelling activities, with a maiden JORC-compliant Mineral Resource Estimate (MRE) the golden goal of that forthcoming drill program.
Historical intercepts of interest include one 25m width intercept grading at 0.65% tungsten from less than 10m depth below surface; a second pair of results for 13m at 0.7% and 18m intercept at 0.72% tungsten – from surface – are also of interest.
“By targeting our initial drilling in areas that have already been disturbed and drill-tested, we are acting responsibly to reduce our environmental impact while ensuring a smooth start to drilling,” AT4 MD Andrew Booyzen said.
AT4 last traded at 11cps.
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