Palisade Metals Nearly Doubles Finley Basin Tungsten Land Ahead of Drilling

Significant Land Expansion Positions Finley Basin for Exploration

Palisade Metals Ltd (ASX:PM1) has nearly doubled the footprint of its Finley Basin Tungsten Project in western Montana, expanding its landholding by 87% from 372 hectares to more than 696 hectares. This strategic move, achieved through low-cost staking of federal unpatented mineral claims, follows detailed geological mapping and a review of historical airborne geophysical data highlighting highly prospective ground surrounding historical tungsten mineralisation.

The expanded tenure not only secures control over key geological trends but also strengthens Palisade’s foothold within a historically tungsten-rich district in the Flint Creek Mountain Range. The company is preparing to commence its maiden drilling program in Q3 2026, designed to validate and extend the known mineralised zones identified by Union Carbide in the late 1970s and early 1980s.

Drilling Preparations Advance with Permits in Place

Drilling remains on schedule with the company having secured a Non-Federal Commercial Road Use Permit from the U.S. Forest Service for road repair and commercial operations at Finley Basin. The remaining state-level exploration permits are expected imminently, clearing the way for mobilisation and drilling activities aimed at confirming and expanding the historical tungsten mineralisation.

Palisade’s Executive Chairman, Chris Evans, emphasised the strategic nature of the land acquisition ahead of drilling, noting the company’s intent to collect data necessary for a JORC-compliant mineral resource estimate. The historical estimate, while not compliant with current JORC standards, reported a non-JORC “mineral reserve” of 850,000 tons at an average grade of 0.68% WO3, providing a compelling exploration target.

Historical Tungsten Mineralisation and Project Context

The Finley Basin Project hosts tungsten-rich skarn mineralisation within a known trend extending into Idaho. The historical estimate by Union Carbide, although not independently verified or JORC-compliant, serves as the foundation for Palisade’s exploration strategy. The company cautions that there is no guarantee these historical figures will translate into a JORC resource or reserve following further exploration.

Tungsten’s critical mineral status in the United States, driven by constrained domestic supply and demand from defence and advanced manufacturing sectors, underpins Palisade’s confidence in Finley Basin’s strategic value. The project’s proximity, approximately 30 kilometres, to a fully permitted 1,000 tons per day flotation mill in Philipsburg, Montana, adds a logistical advantage in potential development scenarios.

Broader North American Critical Minerals Strategy

Beyond Finley Basin, Palisade continues to pursue additional tungsten opportunities across North America, aiming to build a diversified critical minerals portfolio. The company also holds lithium and rubidium assets in South Dakota’s Black Hills region, where it has completed drilling and metallurgical testing.

As Palisade moves towards its maiden drilling campaign, the market will be watching closely for assay results that could validate the historical resource and set the stage for resource definition. Meanwhile, the timely receipt of exploration permits and successful land expansion reflect a company methodically advancing its North American critical minerals ambitions.