American Tungsten continues drilling at IMA

Executive Summary

• American Tungsten Corp. provided an operational update on its underground drill program at the IMA mine in Idaho, reporting 2,120 feet of drilling completed across six holes since early December.
• The company confirmed intersections of quartz veins with hubnerite (MnWO4) mineralization, validating the geological model and supporting the phased approach to resource expansion.
• Phase 1 drilling plans include an additional 3,850 feet across nine holes from the second and third D level stations, with the overall goal of delineating historically identified tungsten vein systems by the end of Q1 2026.

Key Details

• Drilling Progress: 2,120 feet of drilling completed across six holes since early December; the final hole from the first D level drill station is currently underway.
• Mineralization: Drilling continues to intersect quartz veins with hubnerite (MnWO4) mineralization.
• Geological Context: Vein intersections occur over an area 400 feet along strike and 250 feet updip from the D level. The No. 5 and No. 7 veins are interpreted to be laterally continuous between drill holes.
• Infrastructure & Logistics:
  • Drift to the second D level drill station has been completed.
  • The rig will be moved after hole AT25-07, which will test the updip extension.
  • Underground rehabilitation is advancing on both the upper D level and the zero level to support continuing drilling activity.
• Future Plans (Phase 1):
  • An additional 3,850 feet of drilling is planned across nine holes from the second and third D level drilling stations.
  • The zero level drill program has been expanded from 6,700 to 8,000 feet with the addition of a new drill station for Phase I and II programs.
• Strategic Objectives: The Phase 1 program targets five priority exploration targets (No. 5 and No. 7 vein systems, IMA west vein, eastern vein, and main IMA vein) to address low-risk targeted areas for expansion of known mineralization by the end of Q1 2026.
• Assay Status: Analytical results are pending; there is no guarantee that assay results will verify visual observations of mineralization, grade, or economic viability.

Notable Quotes

• "The initial drill holes at the IMA project are successfully intersecting the vein system along strike of historical resources. While assay results are still pending, these early intersections reinforce the geological model and validate our disciplined, phased approach to resource expansion. Phase 1 is progressing exactly as designed and we remain focused on advancing the targets that support our mission to become the first producer of tungsten in the United States," said Ali Haji, chief executive officer of American Tungsten.