Tungsten Mining NL has identified new gold exploration targets at Mt Mulgine, complementing its significant tungsten resource and expanding the project's potential. These targets, alongside recent resource estimates, could reshape the development strategy for this Western Australian asset.
- New gold targets at Mulgine Trench, Allentown, and Monza prospects
- Exploration targets estimated at 1.5–2.0 million tonnes grading 0.9–1.4 g/t Au
- Existing gold Mineral Resource Estimate of 1.9 Mt at 1.10 g/t Au for 67.5 koz
- Significant near-surface and high-grade gold intersections from drilling
- Plans for infill/extensional drilling and integrated scoping study underway
Expanding Gold Horizons at Mt Mulgine
Tungsten Mining NL (ASX, TGN) has strengthened its Mt Mulgine project in Western Australia by defining new gold exploration targets at the Mulgine Trench, Allentown, and Monza prospects. These targets add to the company’s already substantial tungsten resource, underscoring a dual-commodity opportunity that could enhance the project's economic profile.
The newly identified exploration targets range between 1.5 and 2.0 million tonnes, with gold grades estimated from 0.9 to 1.4 grams per tonne, translating to approximately 44,000 to 87,000 ounces of gold. These are conceptual targets based on a comprehensive review of both company and historic drilling data, and importantly, they sit alongside a recently announced gold Mineral Resource Estimate of 1.9 million tonnes at 1.10 g/t gold for 67,500 ounces at the Camp, Black Dog, and Bobby McGee prospects.
Drilling Highlights and Geological Context
Drilling campaigns conducted between 2013 and 2020 have revealed promising gold mineralisation, particularly near surface. At the Mulgine Trench, oxide gold mineralisation extends over 800 metres of strike, with notable intersections such as 6 metres at 3.10 g/t Au and 5 metres at 3.24 g/t Au. The Monza prospect stands out for its high-grade shoots, including spectacular hits of 4 metres at 27.69 g/t Au and 4 metres at 25.18 g/t Au, indicating potential for rich, discrete zones of gold.
Meanwhile, the Allentown prospect has demonstrated significant gold mineralisation across three east-west striking structures over 180 metres, with intersections like 23 metres at 1.84 g/t Au and 10 metres at 2.02 g/t Au. These findings suggest a robust and expanding gold system within the broader Mt Mulgine area, which is primarily known for its tungsten and molybdenum mineralisation.
Strategic Implications and Next Steps
Chairman Gary Lyons emphasised the strategic value of these discoveries, noting that the additional gold targets provide greater flexibility and value to the tungsten development pathway. The company is advancing a scoping study that will integrate these gold opportunities, potentially enabling a near-term oxide gold project that complements the tungsten operations.
Looking ahead, Tungsten Mining plans to undertake infill and extensional drilling to better define the oxide gold targets and to complete a Mineral Resource estimate for this gold mineralisation. This integrated approach aims to unlock synergies between gold and tungsten development, potentially enhancing project economics and investor appeal.
While the exploration targets remain conceptual and require further drilling to confirm Mineral Resources, the combination of historic and recent data paints an encouraging picture of Mt Mulgine’s multi-commodity potential. The company’s methodical approach to data verification and quality control adds confidence to these findings.
Bottom Line?
Tungsten Mining’s evolving gold strategy at Mt Mulgine could redefine the project’s value proposition as drilling and studies progress.
Questions in the middle?
- Will further drilling convert these exploration targets into defined Mineral Resources?
- How will the integration of gold and tungsten impact the overall project economics?
- What timeline can investors expect for the completion of the scoping study and resource updates?