Drill Results
American Tungsten Extends Strike Length of Tungsten Mineralization at IMA Mine, Idaho, US
American Tungsten Confirms Vein Continuity at IMA Mine as Drill Program Expands, But Execution and Dilution Risks Loom
Executive Summary
- The March 25, 2026 release reports initial drilling results from the second underground drill station on the D-Level of the IMA Mine in Idaho.
- The company completed 15 D-Level holes and 8 Zero-Level holes, totaling approximately 7,800 feet of drilling.
- Highlight intercepts include 28.3 feet grading 0.39% WO3 and 1.08 oz/t Ag, and 10 feet grading 0.80% WO3 and 1.91 oz/t Ag, with higher-grade sub-intervals reported.
- Management states the results confirm the continuity and scale of the polymetallic tungsten-silver vein system.
- The Phase 1 program will continue with at least 4 additional D-Level holes (~2,800 feet) and up to 20 Zero-Level holes (~10,000 feet) to test vein continuity up-dip and along strike.
- All technical data was reviewed by VP Exploration Austin Zinsser, P.G., SME-RM, in compliance with NI 43-101 standards.
Material Impact
- The news is positive but highly expected. It serves as a direct follow-up to the February 24 drilling update and the March 3/4 metallurgical results, which already established high gravity recovery rates and vein continuity.
- The intercepts are consistent with historical production grades and management's prior guidance. There are no surprise high-grade bonanza zones or step-out discoveries that would fundamentally alter the project's economic model or near-term timeline.
- The market has already priced in steady exploration progress following the C$40 million bought-deal financing closed on March 18. The release validates the geological model but does not provide a new catalyst for immediate multiple expansion.
- From a risk-averse perspective, the results are de-risking but not transformative. They confirm the asset is behaving as modeled, which is necessary but insufficient for a near-term production decision.
TUNG · Price
Company Overview
- American Tungsten Corp. is a Canadian-listed exploration and development company focused on critical minerals, specifically tungsten and silver.
- Flagship project: IMA Mine, located in Idaho, USA. The property is a historic underground tungsten producer that operated from 1945 to 1957, yielding approximately 199,449 metric tons of tungsten units.
- The company holds an exclusive option to acquire 100% of the property, subject to a 2% net smelter return (NSR) royalty.
- Current operations focus on rehabilitating historic underground workings, executing a multi-level diamond drilling program to delineate historical resources, and developing a scalable metallurgical flowsheet for on-site processing.
More from American Tungsten Corp
Jul 16, 2026 · 07:01