Allied Critical Metals Announces Material Increase to Mineral Resource Estimate at Borralha Tungsten Project in Northern Portugal
Executive Summary
- Allied Critical Metals announced a substantial increase in its Borralha tungsten resource, now totaling 13.0 Mt Measured & Indicated at 0.21% WO₃ and 7.7 Mt Inferred at 0.18% WO₃.
- The update incorporates results from the 2025 Phase 1 RC drilling campaign (4,210 m) and underpins a Preliminary Economic Assessment (“PEA”) slated for Q1 2026.
- Tungsten prices have risen ~70 % over the past six months, enhancing the project's economic outlook and positioning Borralha as one of Europe’s largest undeveloped tungsten assets.
Key Details
- Resource Summary (0.09% WO₃ cut‑off, undiluted, in‑situ):
- Measured: 1.0 Mt @ 0.22% WO₃ → 2,088 t WO₃
- Indicated: 12.0 Mt @ 0.21% WO₃ → 24,974 t WO₃
- Measured + Indicated (M+I): 13.0 Mt @ 0.21% WO₃ → 27,062 t WO₃
-
Inferred: 7.7 Mt @ 0.18% WO₃ → 13,878 t WO₃
-
Comparison to 2024 MRE:
- 2024 – 4.98 Mt Indicated @ 0.21% WO₃ and 7.01 Mt Inferred @ 0.20% WO₃.
-
2025 – Resource more than doubled in Measured & Indicated tonnage with comparable grade.
-
Drilling Program:
- Phase 1 RC drilling: 4,210 m total depth across multiple step‑outs and infill holes.
-
Highlights include strong continuity of mineralization toward north dip and western flank; final RC holes terminated before reaching anticipated corridors, leaving significant upside for further growth.
-
Metallurgical Outlook:
- Gravity‑dominant flowsheet projected with ~75–85 % WO₃ recovery.
-
Potential by‑products (Cu, Sn, Ag) identified but not included in current cut‑off; to be defined in the PEA.
-
Economic Context:
- Current tungsten APT price ≈ US $700/MTU (≈70 % increase over prior six months).
-
Cut‑off grade of 0.09% WO₃ derived from $500/MTU price, underground long‑hole stoping concept, and continuity criteria.
-
Next Milestones:
- Completion of detailed metallurgy by Wardell Armstrong (results expected Q1 2026).
- Engineering trade‑off studies for PEA.
- Phase 2 RC & diamond drilling targeting western/down‑dip extensions (planned early 2026).
-
Ongoing environmental impact assessment and permitting; approvals anticipated Q1 2026.
-
Qualified Persons:
- Vítor Arezes, VP Exploration – QP for MRE preparation.
- J. Douglas Blanchflower, P.Geo., Minorex Consulting – independent reviewer.
-
David Castro López, MIMMM, MinePro Lda – metallurgical reviewer.
-
Regulatory Filing:
- Technical Report supporting the updated MRE to be filed on SEDAR+ within 45 days of this release (NI 43‑101 compliance).
Notable Quotes
“This updated MRE is a major milestone for the Borralha Project… Growing the Measured and Indicated resources to 13.0 million tonnes at 0.21% WO₃… confirms both the scale and continuity of the deposit.” – Roy Bonnell, CEO & Director
“The combination of geological growth, improving confidence, and continued permitting momentum gives us a clear and responsible path forward toward development.” – Roy Bonnell