Tungsten Mining NL (ASX:TGN) has posted its latest drilling results for its namesake metal at Mt. Mulgine, WA, with tungsten mineralisation proving to be up to 292m thick in at least one drillhole, exceeding geotech expectations.
Existing geological estimates will need to be updated to account for the new discovery uncovered in a 140-hole RC drilling campaign pulling up 40,000m worth of material.
Tungsten Mining is eyeing an exploration target of 165-200Mt @ 0.10-0.12% tungsten additional to an existing 247Mt Mulgine Trench MRE though noted on Friday the exploration target is conceptual in nature under JORC rules.
The company highlighted four outstanding RC results catching the eyes of geotechs on Friday:
- 292m @ 011% tungsten (WO3) from 2m depth
- 290m @ 0.10% WO3 from 10m depth
- 264m @ 0.11% WO3 from 24m depth
- 257m @ 011% WO3 from 2m depth
The company also reported hitting molybdenum and gold mineralisation while it sunk the drillbits sniffing out tungsten which the company perceives as underscoring a potential multi-commodity value prop for the Mt. Mulgine project.
These fresh assay results come at the same time the company’s separate Watershed project in Far North Queensland is approaching FID, which the company has previously reported is due in late 2026 per its October 2026 definitive feasibility study.
However, on Friday, Tungsten Mining NL clarified that it’s the Mt. Mulgine project which represents “the Company’s major longer-term tungsten development opportunity.”
These initial results are highly encouraging and reinforce the significant resource growth potential at Mt Mulgine. 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.
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.
The Mt. Mulgine project is located in WA’s Murchison region 350km north northeast of Perth, WA.
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