Trigg Minerals (ASX:TMG) has hit a high-grade tungsten system at its Nevada-based Tennessee Mountain Project at the same time demand for the metal has spiked on the back of Western domestic supply chain initiatives.
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Valued in defence markets for its hardness (and other critical industries), the tungsten story has in large part been a driver of success for Almonty Industries (ASX:AII) this year, too.
That is evident in price action for the metal. “Contextually… the current price for Ammonium Paratungstate, a key tungsten benchmark, [is] approximately US$42,000 per metric tonne,” Trigg wrote on Tuesday, citing a late August report from Metal.com.
Highlighting key tungsten trioxide intercepts on Tuesday through a review of existing geodata, Trigg geotechs now boast a higher confidence going forward at TMP when it comes to modern exploration activities.
The presence of trioxide intercepts from surface lends the possibility of lower cost and faster paced mining, as for drilling, the company is hopeful that historical holes ended in mineralisation offer a tantalising prospect for upcoming drill runs.
“Historical trenching successfully exposed continuous, near-surface mineralisation across multiple zones… Tungsten mineralisation has been defined within a classic skarn system extending over a strike length of more than 2.5 km, indicating significant district-scale potential,” Trigg wrote.
Company chief Andre Booyzen spoke on Tuesday of an upcoming systematic exploration campaign at TMP to test the widths and depths of now-confirmed tungsten trioxide mineralisation on-site.
“Historical work has already confirmed mineralisation at depth and demonstrated continuity over a strike length of more than two and a half kilometres,” Booyzen said.
“When this is combined with the knowledge that historical sampling methods were highly selective and likely understated the true mineralised widths, the exploration upside becomes truly significant.”
TMG last traded at 9.4cps.
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