Mt. Mulgine Gold Resource Rises to 67,500 Ounces in Latest Estimate

Strengthening the Gold Base at Mt. Mulgine

Tungsten Mining NL (ASX, TGN) has announced a significant update to its gold Mineral Resource Estimate (MRE) at the Mt. Mulgine Project in Western Australia's Murchison Region. The combined Indicated and Inferred resource now stands at 1.9 million tonnes grading 1.10 grams per tonne gold, equating to approximately 67,500 ounces. This update encompasses the Camp, Black Dog, and Bobby McGee prospects, all integral to the company’s broader integrated gold-tungsten development strategy.

The Mt. Mulgine Project, located roughly 350 kilometres north-northeast of Perth, already hosts substantial tungsten and molybdenum resources. The new gold MRE complements these by potentially providing near-term cash flow to support the larger-scale tungsten development. Tungsten Mining’s chairman, Gary Lyons, highlighted the favourable market conditions, noting that "record gold and tungsten prices continue to highlight the significant opportunity at our Mount Mulgine Project." This dual-commodity approach aims to capture value from both metals amid strong global demand.

Technical Foundations and Historical Context

The updated resource estimate is grounded in extensive drilling data, including over 2,500 reverse circulation and diamond holes drilled historically and by Tungsten Mining since its acquisition of the project in late 2024. The company has also incorporated historical mining data from Minjar Gold Pty Ltd, which mined shallow pits at the key prospects between 2014 and 2015, producing nearly 47,300 ounces of gold.

Geologically, gold mineralisation is associated with the Mulgine Granite and surrounding greenstone sequences, with mineralised zones exhibiting structurally controlled, shallow-dipping lodes. The resource classification follows the JORC 2012 Code, with the deposit amenable to open pit mining methods. Importantly, metallurgical test work conducted on both fresh and oxide samples indicates promising gold recoveries using conventional gravity and carbon-in-leach processing, supported by historical plant recoveries of 80–92%.

Strategic Implications and Next Steps

This resource update not only bolsters Tungsten Mining’s asset base but also underpins ongoing engineering and conceptual pit optimisation studies. These efforts aim to refine the economic potential of gold mineralisation as a funding mechanism for the tungsten project’s development. The company is in the process of transferring tenements into its subsidiary Mid-West Tungsten Pty Ltd, consolidating control over both gold and tungsten rights.

While the Bobby McGee gold resource overlaps with a previously reported tungsten-molybdenum resource, the company has clarified that the gold zones are discrete and warrant separate reporting. The integrated approach positions Tungsten Mining to leverage favourable commodity prices and market dynamics, potentially accelerating project development timelines.