American Tungsten begins phase 1 drilling at Ima

Executive Summary

• American Tungsten Corp. has commenced Phase I diamond drilling at the Ima mine in Idaho, aiming to advance the asset toward commercial production.
• The program targets five priority exploration areas identified from historical data, with the goal of delineating tungsten vein systems and expanding known mineralization by the end of Q1 2026.
• CEO Ali Haji stated the company is positioning itself to become the first commercial tungsten producer in the United States, with contractors working at an accelerated pace.

Key Details

• Drilling Scope: Approximately 12,100 feet of drilling planned across three stations on the D level and two stations on the Zero level.
• Priority Targets: Five priority exploration targets identified: No. 5 and No. 7 vein systems, Ima West vein, Eastern vein, and Main Ima vein.
• Phase I Objectives:
  • Establish geological continuity of the polymetallic tungsten-silver quartz vein system updip of the D level and along strike to the north.
  • Test additional vein systems and molybdenum mineralization from the Zero level.
• Current Progress (D Level):
  • Drilling has commenced at the first station on the D level.
  • At least five holes planned, totaling approximately 1,950 feet, to validate and extend the No. 5 and No. 7 veins.
  • First drill station established from a new crosscut driven 195 feet into the footwall of the No. 5-7-9 vein system.
• Upcoming Deliverables:
  • Continued drift development (approx. 325 feet remaining) to prepare the second and third D level drill stations.
  • Additional 3,500 feet of drilling planned from the second and third stations during late December and January.
• Zero Level Status:
  • Rehabilitation and infrastructure upgrades progressing to support further diamond drilling.
  • Planned drilling on Zero level entails approximately 6,700 feet.
• Historical Context:
  • Ima mine produced approx. 199,449 metric thermal units of WO3 between 1945 and 1957.
  • Exploration for molybdenum and tungsten occurred between 1960 and 2010.
  • Inspiration Development Corp. focused on development from 1978-1982, planning a 300-tonne-per-day operation before work ceased due to tungsten price deterioration.
• Company Position:
  • American Tungsten holds an exclusive option to acquire full ownership (subject to a 2% royalty).
  • Land position expanded with 113 additional federal claims covering nearly 2,000 acres.

Notable Quotes

• "The commencement of this phase 1 drill program marks the next step in advancing the Ima mine toward commercial production. By systematically testing multiple tungsten vein systems and validating an established historical resource base, we are building confidence in the asset while positioning American Tungsten to become the first commercial tungsten producer in the United States." — Ali Haji, CEO