What's Happening?
American Tungsten has announced the commencement of diamond drilling at its IMA Mine in Patterson, Idaho, scheduled for late November 2025. The company has expanded its phase one drilling program to include
10,000 feet of drilling across multiple stations. This initiative aims to establish geological continuity of the tungsten quartz vein system and test additional vein systems. The company has made significant progress in rehabilitating the mine, with excavation efforts underway to reach drill stations. American Tungsten has secured additional work staff to ensure parallel progress at different levels of the mine. The company has also received a letter of interest from the US Export-Import Bank for up to $25.5 million to support development and milling activities.
Why It's Important?
The initiation of diamond drilling at the IMA Mine is a critical step for American Tungsten in enhancing the local supply chain of tungsten, a vital mineral for various industries. The financial backing from the US Export-Import Bank underscores the strategic importance of this project in bolstering domestic production capabilities. This development is expected to contribute to the U.S. economy by creating jobs and supporting local businesses involved in the mining and processing of tungsten. The project aligns with national interests in securing essential mineral resources, potentially reducing reliance on foreign imports.
What's Next?
American Tungsten plans to continue its rehabilitation efforts at the IMA Mine, with the first diamond drill station expected to be operational soon. The company is preparing for phase two of its drilling program, which will extend into the first quarter of 2026. As the drilling progresses, American Tungsten will provide updates on the geological findings and potential expansion of the project. The company is also focused on meeting the requirements to secure the development loan from the US Export-Import Bank, which will be crucial for further advancements in the mine's operations.
