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American Tungsten Confirms High-Grade Tungsten Mineralization from Initial Zero Level Underground Drilling at Ima Mine

American Tungsten Drilling Validates Zero Level Vein Continuity Amidst Capital Raise

By The Northwire Desk — AI Analysis May 05, 2026 · 07:05 TUNG · 2.59 American Tungsten Corp

Executive Summary

American Tungsten Corp. released initial underground drilling results from the Zero Level of the Ima Mine in Idaho on May 5, 2026.
Intersections confirmed tungsten-bearing polymetallic veins including the historical Main Ima vein system, West Vein, newly identified western vein, and Talmadge Vein.
Key intercepts include Hole AT26-14 (17.8 ft @ 0.44% WO3) and Hole AT25-16 (9.6 ft @ 0.40% WO3 in West Vein).
Drilling progress: 11 holes completed on Zero Level (>5,000 ft); second drill station nearing completion; D level drilling underway with 22 holes total (~13,229 ft drilled to date).
CEO Ali Haji stated results validate the Phase 1 exploration program and approach to revitalizing the historic Ima Mine.

Material Impact

The news is a confirmation of ongoing exploration rather than a fundamental shift in project economics or timeline.
Results are consistent with previous D-Level drilling announcements (March 2026) and metallurgical test work showing high recoveries (94.4% WO3).
While positive, the grades (0.44% - 1.06% WO3 intervals) are within expected ranges for this project's historical context and do not represent a surprise resource expansion.
The market has already priced in significant capital raises ($40M bought deal in March 2026), so incremental exploration results are viewed as routine progress toward the stated goal of defining a mineral resource.
No new financing or strategic partnership announcements accompany this release, limiting immediate upside catalysts compared to previous months.

TUNG · Price

Company Overview

Company: American Tungsten Corp. (TUNG).
Flagship Project: Ima Mine, Idaho, USA. Historic underground tungsten producer (1945–1957) with ~199,449 MTU WO3 produced.
Current Status: Revitalization phase; Phase 1 exploration drilling underway on D Level and Zero Level to define a modern mineral resource.
Strategic Goal: Become the first commercial tungsten producer in the United States to reduce reliance on Chinese imports (US imports >80% of tungsten).
Infrastructure: Underground rehabilitation ongoing, including drift development and power upgrades (150kW generator installed).

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