Tungsten Mining NL (ASX: TGN) has report a major Mineral Resource Estimate update that has doubled the tungsten and tripled the molybdenum content at its Mt Mulgine Project in the Murchison Region of Western Australia.
CEO Craig Ferrier said the updated Mineral Resource estimate confirms the significance of mineralisation at Mulgine Trench with a 189% increase in tonnes and an increase in contained metal of 97% in tungsten and 211% for molybdenum.
This is an outstanding first step in the Mt Mulgine PFS and the results to date have exceeded our expectations,” Mr Ferrier said.
“The very substantial increase in contained metal highlights the enormous potential of the Mt Mulgine project and we look forward to providing the market with an updated estimate at the conclusion of the resource definition drill programme to be completed in the first quarter of 2020.”
Tungsten Mining owns 100% of the tungsten and molybdenum rights on a group of tenements that have been the subject of significant previous evaluation for tungsten and molybdenum.
The company also has the rights to all by- products from the mining of tungsten and molybdenum. Near surface Mineral Resources have been delineated at the Mulgine Trench and Mulgine Hill deposits, which have been the subject of ongoing evaluation by the company.
In April 2019, the company commenced work on a Pre-Feasibility Study (PFS) for large scale mining operations at the Mt Mulgine Project.
Mr Ferrier said it is anticipated that one of the outcomes of the PFS will be that a significant portion of the Mulgine Trench Mineral Resource will be classified as Indicated, supporting the declaration of a maiden Ore Reserve for the larger Mt Mulgine Project.
In July 2019, the company commenced resource definition drilling at Mulgine Trench with results from the first 123 reverse circulation (RC) holes received by late November 2019.
Resource consultants, Optiro Pty Ltd (Optiro) were engaged to update the Mulgine Trench Mineral Resource and completed this exercise in December 2019.
