Tungsten Mining NL (ASX:TGN) Advances Mt Mulgine Project with Integrated Gold/Tungsten Strategy
Development Strategy Update
Australian tungsten developer Tungsten Mining NL (ASX: TGN) announced a revised strategy for its Mt Mulgine Project, focusing on an integrated gold and tungsten opportunity. The near-surface oxide gold mineralisation will help offset early development costs and facilitate access to the primary tungsten ore body.
Integrated Scoping Study
The company is progressing the approvals process for the oxide gold initiative and will commence a comprehensive 10-week integrated scoping study in July. This study will evaluate the viability of a gold-focused start-up operation and explore integration options with the long-term tungsten-molybdenum development strategy.
Executive Comments
Chairman Gary Lyons stated, “This updated development strategy makes strong commercial sense. By targeting oxide gold mineralisation located within the overburden of our proposed starter pit, we have an opportunity to generate early cash flow, offset pre-strip costs, and accelerate project development. Crucially, this near-term initiative strengthens our long-term ambition to establish Mt Mulgine as a tier-one supplier of tungsten and molybdenum. With global demand for critical minerals surging, particularly for industrial and defence applications, Mt Mulgine is strategically positioned to deliver significant value in the near term while building towards large-scale, long-life production in a Tier-1 jurisdiction.”
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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