Economic Potential of Tungsten at Glenburgh Remains Uncertain Amid Ongoing Testing

Tungsten Emerges as a Valuable By-Product at Glenburgh

Benz Mining Corp (ASX:BNZ) has unveiled a widespread presence of tungsten mineralisation across its Glenburgh Gold System in Western Australia, with elevated tungsten concentrations closely associated with gold mineralisation along the entire 12-kilometre mineralised corridor. This revelation comes as the company intensifies drilling across the project, signalling a possible new revenue stream alongside its core gold focus.

The company’s fusion digest re-assays have confirmed significant tungsten (WO3) intervals in multiple reverse circulation (RC) drill holes, including 26 metres at 0.24% WO3 within a 79-metre intercept grading 4.4 grams per tonne (g/t) gold from 534 metres downhole, and 33 metres at 0.1% WO3 accompanying a 25-metre intercept of 10g/t gold from 568 metres. These tungsten zones are not isolated anomalies but widespread throughout the bulk-tonnage gold mineralisation, especially within higher-grade gold zones.

Mineralogy and Metallurgical Insights Support Recovery

Mineralogical studies using X-ray diffraction (XRD) and scanning electron microscopy (SEM) have identified tungsten predominantly as coarse-grained scheelite and ferberite (iron-rich wolframite). Preliminary field observations demonstrated that simple hand panning techniques could produce visible tungsten-rich concentrates, indicating the mineralisation’s coarse nature and supporting the potential for conventional gravity recovery methods. Formal tungsten metallurgical testwork is underway at ALS Metallurgy, running in parallel with ongoing gold metallurgical studies.

These findings are particularly encouraging given tungsten’s strategic importance and the potential to enhance the Glenburgh project’s economic profile. The company is systematically re-assaying intervals flagged by routine four-acid digest ICP-MS geochemistry with lithium borate fusion methods, which better quantify tungsten concentrations by fully digesting resistant tungsten minerals. Initial fusion results have shown materially higher tungsten grades than historical assays, underscoring the scale of tungsten mineralisation emerging across Glenburgh.

Drilling Scale-Up Reflects Growing Confidence

Benz is ramping up its drilling program to 12 RC shifts across the Hurricane, Icon, and Thunderbolt Camps, making it one of the largest active gold exploration campaigns in Australia. This expansion reflects management’s increasing confidence in Glenburgh as a large-scale, multi-million-ounce gold system with significant growth potential across multiple mineralised camps. A diamond drill rig has also been mobilised to support metallurgical, geotechnical, and orebody knowledge programs, advancing pre-development workstreams alongside exploration.

The Thunderbolt Camp, recently identified as a new growth front, has produced some of the strongest tungsten-in-soil anomalies recorded at Glenburgh, closely associated with gold mineralisation. This supports the emerging view of Glenburgh as a district-scale gold system with a significant tungsten endowment, which could enhance project economics if tungsten recovery proves viable.

The company’s approach builds on its previous exploration successes, including multiple high-grade gold discoveries at Hurricane Camp that have expanded the mineralised corridor and accelerated resource growth. The ongoing drilling and assay results will be critical in refining the tungsten and gold resource models and assessing the economic potential of tungsten as a by-product mineral.