American Tungsten reports new IMA vein grading 0.54% tungsten trioxide

American Tungsten Corp. CVETUNG OTCMKTSTUNGF FRARK90, listed on the TSX Venture Exchange, reported a new IMA vein with 18.9 feet grading 0.54 per cent tungsten trioxide on Thursday. Drilling has traced the structure over 200 feet along strike and down dip, adding an exploration target as the Idaho tungsten explorer develops a preliminary economic assessment.

The company's Oct. 29 release identifies the discovery as the 360 portal vein at its wholly owned IMA project in Idaho. Assays are back for four of six holes targeting the structure, which remains open at depth and along strike.

Before the announcement, shares closed at C$1.31 on the TSX Venture Exchange at 4:00 p.m. EDT on Oct. 28, according to CVETUNG.

Underground drilling also returned 18.4 feet grading 0.804 per cent tungsten trioxide in the No. 5 vein. That result came from a hole designed to expand and step out from previous drilling.

New Vein Remains Open

The headline surface intersection came from hole AT26-58S, beginning at a downhole depth of 151.3 feet. Its reported length is a drill intersection, with true width estimated at 75 to 90 per cent of that length.

The company describes the 360 portal structure as a moderately northeast-dipping quartz vein containing tungsten and silver mineralization. Although the vein was historically mined near surface, recent drilling has traced it over 200 feet along strike and down dip.

"Presence of significant tungsten-silver mineralization over significant widths establishes the vein as an additional exploration target which is open at depth and along strike," the company said in the release.

Another surface hole, AT26-47S, returned 15 feet grading 0.25 per cent tungsten trioxide. The release's assay table covers nine holes, including a hole lost before reaching its target that returned no significant intersections.

Underground Holes Target Extensions

The underground No. 5 vein result came from hole AT26-49, starting at a downhole depth of 106.3 feet. The same hole intersected 11 feet grading 0.894 per cent tungsten trioxide in the No. 7 vein. AT26-49 was an upwardly inclined hole drilled north from an underground station.

Estimated true widths for that hole are 60 to 65 per cent of the reported intersection lengths. Underground infill and step-out drilling on the D level continues to expand and delineate the upper IMA vein system, according to the release.

Another U.S. tungsten redevelopment effort is underway at Blue Moon Metals Inc. CVEMOON NASDAQBMM. In its Oct. 26 release filed with the U.S. Securities and Exchange Commission, Blue Moon said it had contracted refurbishment of its Springer processing plant in Nevada, with completion expected in the fourth quarter of 2027.

Read more: Blue Moon Metals signs Springer tungsten mill refurbishment contract

At IMA, assays for portal holes AT26-56S and AT26-62S remain pending. American Tungsten said those results will guide additional step-out drilling on the structure.