Tungsten Mining (ASX:TGN) has started to drill its Mt Mulgine tungsten project, which is located approximately 350 kilometers from Perth, in Western Australia. The majority of the drill program will focus on 35 very shallow holes (with an average depth of 40-50 meters) to increase the confidence in the mineralized zones located close to surface. As it’s a relatively small drill program, the drill program has probably already been completed, and we expect to see the assay results from the lab in September.
Keep in mind the Mt Mulgine project hosts a total of 72 million tonnes at an average grade of 0.18% WO3 using a cutoff grade of 0.10% WO3. This means the project contains in excess of 12 million mtu of tungsten, for an in-situ value of in excess of $2B.
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