Can Tungsten Mining’s Mt Mulgine Drilling Unlock One of the World’s Largest Tungsten Deposits?

• 140-hole, 40,000m RC drilling program scheduled for May 2026
• Targeting extensions 80m to 160m beneath 2020 Mineral Resource Estimate
• Exploration Target of 165-200 Mt at 0.10-0.12% WO3 and 180-220 ppm Mo
• Potential to upgrade up to 100 Mt of resource classification to Indicated
• Opportunity to define one of the world’s largest tungsten resources

A Strategic Move Amid Record Tungsten Prices

Tungsten Mining NL (ASX:TGN) has announced an ambitious reverse circulation (RC) drilling program at its Mt Mulgine Trench deposit, set to commence in early May 2026. The company plans to drill 140 holes totalling 40,000 metres, aiming to test the continuity and depth extensions of its existing mineral resource. This move comes at a time when tungsten prices are reaching record highs, underscoring the strategic importance of securing and expanding supply of this critical mineral.

Testing the Depths of a Significant Resource

The drilling campaign is designed to explore mineralisation continuity 80 to 160 metres beneath the 2020 Mineral Resource Estimate (MRE) and extend the known ore body down-dip by up to 250 metres. The program also targets strike extensions to the north and south of the deposit, with three deeper holes planned to probe mineralisation at depths of up to 480 metres. The goal is to confirm and potentially upgrade a substantial portion of the resource, with up to 100 million tonnes of material possibly reclassified from Inferred or unclassified to the more confident Indicated category.

Exploration Target and Resource Potential

Previously, Tungsten Mining defined an Exploration Target for the Mulgine Trench deposit ranging from 165 to 200 million tonnes at grades between 0.10% and 0.12% tungsten trioxide (WO3) and 180 to 220 parts per million molybdenum (Mo). This equates to an estimated 165,000 to 240,000 tonnes of contained WO3 and 30,000 to 36,000 tonnes of Mo, which would significantly add to the existing 270,000 tonnes of contained WO3 in the current MRE. While the Exploration Target remains conceptual and further drilling is required to confirm a Mineral Resource, the scale and grade suggest Mt Mulgine could emerge as one of the largest tungsten deposits globally.

Geological Context and Market Implications

The mineralisation at Mt Mulgine is associated with a high-level leucogranite intrusion and extensive hydrothermal alteration, hosting tungsten primarily as scheelite within quartz veins. The deposit’s continuity over 1.5 kilometres of strike and its substantial thickness provide a robust geological foundation for resource expansion. Chairman Gary Lyons highlighted the importance of this project in the context of global supply security, noting Australia’s stable mining jurisdiction as a key advantage amid rising demand for critical minerals in advanced manufacturing and defence sectors.

Looking Ahead

Assay results from the drilling program are expected to be released periodically starting approximately six weeks after drilling begins. These results will be closely watched by investors and industry observers, as they will provide critical insights into the potential to upgrade and expand the Mt Mulgine resource. Tungsten Mining’s progress here could position it as a major player in the global tungsten market, which is increasingly strategic given tungsten’s unique properties and industrial applications.

Bottom Line?

The upcoming drilling results at Mt Mulgine could redefine Tungsten Mining’s resource profile and influence global tungsten supply dynamics.

Questions in the middle?

• Will the drilling confirm the continuity and grade needed to upgrade the Exploration Target to a Mineral Resource?
• How will the potential resource upgrade impact Tungsten Mining’s development timeline and financing options?
• What are the implications of rising tungsten prices on the project’s economic viability and market positioning?