How Tungsten Mining’s Gold-Tungsten Strategy Could Unlock Mt Mulgine’s Potential
Tungsten Mining NL advances its Mt Mulgine project with a new gold extraction approach while reporting a maiden inferred resource at Hatches Creek, positioning itself strongly amid rising tungsten prices.
- Near-term gold extraction strategy to reduce Mt Mulgine development costs
- Maiden inferred Mineral Resource estimate completed for Hatches Creek tungsten and copper deposits
- Integrated scoping study underway to assess gold-tungsten project viability
- Tungsten prices spike driven by US defense spending and Chinese export restrictions
- Company holds $2.52 million cash with $0.6 million spent on exploration and evaluation
Strategic Shift at Mt Mulgine
Tungsten Mining NL has revealed a pivotal update in its development approach for the Mt Mulgine Project in Western Australia. The company is now prioritizing a near-term gold extraction strategy aimed at unlocking value and supporting the longer-term tungsten and molybdenum ambitions. By targeting near-surface gold mineralization, Tungsten Mining hopes to significantly reduce pre-stripping costs and lower the capital threshold needed to access the primary tungsten ore body.
This revised strategy is set to be evaluated through an integrated scoping study commencing in July 2025. The study will explore the feasibility of a gold-focused start-up operation and its integration with the broader tungsten-molybdenum development plan, marking a key milestone in the company’s pathway to commercialisation.
Hatches Creek Maiden Resource Bolsters Portfolio
Meanwhile, in the Northern Territory, Tungsten Mining has completed a maiden inferred Mineral Resource estimate for its Hatches Creek Project. The estimate delineates 12 million tonnes at 0.17% tungsten trioxide and 0.12% copper within tungsten domains, alongside an additional 6.1 million tonnes at 0.29% copper in separate copper domains. This polymetallic resource base provides a solid foundation for further technical assessment and potential early production pathways.
The company is actively progressing approvals and environmental studies, including mining license applications and stakeholder engagement with the Central Land Council and Northern Territory Government. These efforts underscore Tungsten Mining’s commitment to advancing Hatches Creek as a significant contributor to its critical minerals strategy.
Market Dynamics and Financial Position
Tungsten prices surged during the quarter, influenced by increased US defense spending and Chinese export restrictions, reinforcing the strategic importance of Tungsten Mining’s substantial resource base outside China. This market backdrop enhances the potential value of the company’s projects.
Financially, Tungsten Mining reported a cash position of $2.52 million as of June 30, 2025, with $0.6 million spent on exploration and evaluation activities during the quarter. The company also received a $439,000 refund under the Australian Government’s Research and Development Tax Incentive, supporting ongoing technical and environmental studies.
Project Portfolio and Corporate Updates
While advancing Mt Mulgine and Hatches Creek, Tungsten Mining has ceased activities and surrendered tenements for its Big Hill and Kilba projects in Western Australia. The company continues to focus on its core assets, including the Watershed Project in Queensland, which holds a significant tungsten resource.
Ongoing stakeholder engagement, environmental baseline studies, and technical collaborations with engineering firms like Mincore are integral to the company’s development plans. Tungsten Mining’s leadership emphasizes the strategic value of its projects amid global supply constraints and rising demand for critical minerals.
Bottom Line?
With integrated studies underway and a maiden resource in hand, Tungsten Mining is poised to capitalize on surging tungsten demand, but regulatory and market uncertainties remain key hurdles ahead.
Questions in the middle?
- What will the integrated scoping study reveal about the economic viability of the gold-tungsten start-up at Mt Mulgine?
- How quickly can Tungsten Mining secure regulatory approvals to advance early production at Hatches Creek?
- Will rising tungsten prices sustain long enough to support the company’s capital-intensive development plans?
