Tungsten Mining is gearing up for a major drilling push at its Watershed mine in Queensland, with exploration focused on high-grade near-surface tungsten that could redefine both the project’s potential and shake supply markets.
The company is set to kick off its major drilling program in June, which will include 175 reverse circulation holes totalling 15,000m, targeting the five most significant near-surface zones within the Watershed mineral resource. Existing data indicates these zones may contain discrete high-grade plunging mineralisation, which could support accelerated development options.
“This planned Watershed drilling campaign reflects our drive to leverage these positive and continuing market conditions to potentially accelerate development of this significant tungsten asset in a tier-one mining jurisdiction.”
Located 130km north of Cairns, Watershed sits in a mining-friendly jurisdiction with granted mining leases and an environmental authority for open-pit development.
The project adds significantly to Tungsten Mining’s global resource inventory, with a Australasian code for reporting of exploration results, mineral resources and ore reserves (JORC) 2012 mineral resource estimate of 49.3 million tonnes (Mt) at 0.14 per cent tungsten trioxide (WO₃), including 9.5Mt measured at 0.16 per cent WO₃.
With prices continuing to reach record highs, Tungsten Mining is well-positioned to capitalise on its high-grade resources.