EQ Resources Unveils High-Grade Tungsten at Mt Carbine Eastern Cut Back
EQ Resources has reported strong tungsten grades from its recent Eastern Cut Back drilling at Mt Carbine, signalling the mine's entry into the main ore body and setting the stage for intensified Stage 2 open pit operations.
- 28 RC drill holes completed totaling 741m at 345m RL bench
- Eastern Cut Back stripping program enables early access to Iolanthe Vein Package
- Multiple high-grade tungsten intersections above 1% WO3 confirmed
- Mining operations poised to enter main ore body with blasting scheduled for February
- Drilling results validate and extend previous 2024 exploration campaigns
Eastern Cut Back Drilling Validates Ore Body Extension
EQ Resources Limited (ASX: EQR), a global tungsten producer with operations in Australia and Spain, has announced the results of its latest reverse circulation (RC) drilling campaign at the Mt Carbine tungsten mine in Queensland. The 28-hole program, completed in late 2024, focused on the Eastern Cut Back area of the Stage 2 open pit, targeting the 345m RL bench to confirm the presence and grade of the main ore body.
The Eastern Cut Back program, a 1.1 million tonne mining and waste stripping initiative, was a key component of the company's 2024 capital expenditure commitments. Its objective was to accelerate access to the high-grade Iolanthe Vein Package within the Andy White Open Pit, a critical step in advancing the Stage 2 pit development.
Strong Tungsten Grades Signal Main Ore Body Entry
Drilling results have been encouraging, with multiple intersections exceeding 1% WO3, including standout intervals such as 6m at 1.62% WO3 and 8m at 1.29% WO3. These grades confirm that mining operations at the 345m RL level are now entering the main ore body, particularly the Iolanthe Vein Package. This confirmation is vital for mine planning and supports the upcoming blasting program scheduled for February 2025, which is expected to unlock further high-grade ore.
EQ Resources CEO Kevin MacNeill highlighted the significance of these results, noting that while the Eastern Cut Back stripping was a costly undertaking, it is beginning to yield tangible benefits by providing early access to richer ore zones. This strategic move is expected to enhance ore availability and improve the mine's production profile in the near term.
Building on a Year of Exploration Success
This drilling campaign extends the positive momentum from earlier 2024 exploration efforts, which progressively delineated the ore body's extent and grade at various pit levels. The current results from the upper bench complement previous findings from lower levels, reinforcing confidence in the resource model and the mine's long-term potential.
Geological mapping and detailed sampling underpin the robust data set, with the company's internal QAQC protocols ensuring the reliability of assay results. The drilling was conducted at right angles to the vein structures, providing representative sampling of the mineralisation.
Outlook and Next Steps
With the Eastern Cut Back program successfully confirming high-grade tungsten mineralisation, EQ Resources is positioned to accelerate Stage 2 pit development. The imminent blasting campaign will be a critical milestone, potentially unlocking significant ore tonnage for processing. The company also plans ongoing RC drilling to further delineate the ore body as mining progresses.
Investors and analysts will be watching closely for updates on production ramp-up and any revisions to resource estimates that may arise from continued exploration and mining activities.
Bottom Line?
As EQ Resources moves deeper into Mt Carbine’s main ore body, the next quarter will be pivotal in translating exploration success into production growth.
Questions in the middle?
- How will the confirmed high-grade zones impact the mine’s production schedule and cost profile?
- What are the potential resource upgrades expected from ongoing drilling in the Eastern Cut Back area?
- How might global tungsten market dynamics influence EQ Resources’ strategic decisions following these results?
