Drill Results

Allied Critical Metals Intersects Over 200 Metres of Breccia-Hosted Tungsten Mineralization at New Venise Target, Expanding Growth Potential at the Borralha Project

Advancing Europe's strategic tungsten supply

By The Northwire Desk — AI Analysis Apr 07, 2026 · 02:01 ACM · 1.73 Allied Critical Metals Inc.

Executive Summary

On 7 April 2026 Allied Critical Metals announced intersecting >200 m of breccia‑hosted tungsten mineralization at the newly defined Venise Breccia target within its Borralha Tungsten Project (Portugal).
The intercept contains visible wolframite with associated molybdenite and chalcopyrite; true widths are not yet determined and pXRF readings are semi‑quantitative only.
The Venise Breccia lies ~400 m northwest of the Santa Helena Breccia deposit that underpins the company’s recently announced PEA (March 2026). It is not included in the current mineral resource estimate or PEA.
The result is part of Allied’s fully funded 20,000 m drill program aimed at expanding the resource base, converting inferred resources to higher confidence categories and extending mine life beyond the initial 11‑year PEA plan.

Material Impact

The news confirms geological continuity of a historically recognized breccia system outside the current PEA footprint – an incremental step toward the company’s stated goal of resource expansion via its funded drill campaign.
No grade, tonnage or economic metrics have been quantified yet; therefore the result does not materially alter the near‑term valuation beyond confirming that the exploration program is on track.
Compared with earlier high‑grade drill results (e.g., 18 m @ 0.85% WO₃ in Nov 2025) and the robust PEA economics released March 2026, today’s update is routine positive – it supports expectations but does not constitute a game‑changing discovery at this stage.

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Company Overview

Allied Critical Metals is focused on advancing its Borralha Tungsten Project in northern Portugal – one of Europe’s largest undeveloped tungsten resources.
Current Mineral Resource Estimate (Nov 2025): 13.0 Mt Measured + Indicated @ 0.21% WO₃ and 7.7 Mt Inferred @ 0.18% WO₃.
The Preliminary Economic Assessment (PEA) released March 2026 shows robust economics: after‑tax NPV ranging from $182.7 M (base case, $962/mtu WO₃) to $963.8 M (high case, $2,049/mtu WO₃); IRR up to 78.4%; payback as short as 1.2 years from start of construction; initial capital ≈US$91 M.
The project benefits from existing infrastructure (grid power, water access, road) and has received a favourable Environmental Impact Declaration (DIA) from Portugal’s Environment Agency (Jan 2026), clearing a major permitting hurdle.
Allied is executing a fully funded 20,000 m drill program to expand the resource base, upgrade inferred resources and test extensions such as the Venise Breccia.

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