Australian tungsten developer Tungsten Mining (ASX:TGN) has released the results of its Scoping Study for the Mt Mulgine Project in Western Australia. The Study confirms Mt Mulgine’s global significance, demonstrates encouraging economics, and supports an accelerated pathway to tungsten and molybdenum production. These results provide a strong platform to commence a Pre-Feasibility Study (PFS) immediately.
Highlights
- Compelling development case: Positions Mt Mulgine as a potential long-term, low-cost producer of tungsten and molybdenum, with additional upside from copper, gold and silver.
- Preferred 6 Mtpa scenario: The Study indicates attractive financial outcomes under a 6 Mtpa Development Case.
- Robust resource base: A large Indicated Mineral Resource Estimate of 175 Mt underpins long-life production, with clear potential to grow the Resource and extend mine life.
- Scalability: Given the resource size and the strategic importance of US-listed critical minerals tungsten and molybdenum, there is scope to increase processing capacity up to 15 Mtpa.
- Gold optionality: A defined 67.5 koz gold resource and an additional 44–87 koz exploration target provide near-surface, enrichment-style gold opportunities that could be monetised amid record prices.
“The Mount Mulgine Scoping Study confirms that Tungsten Mining's mineral resource inventory is of global significance. Located in Western Australia, a safe and well-regarded mining jurisdiction, previous drilling and ongoing analysis highlights that the Mount Mulgine project is one of the largest and most valuable tungsten deposits outside of China,” Tungsten Mining chairman, Gary Lyons said.
“With tungsten prices currently trading at record highs, it is important to note that the economics of this Scoping Study have been assessed at significantly lower long-term assumptions, underlining the robustness potential of the project. In short, this Scoping Study marks key milestone in Mt Mulgine’s evolution and an important step in securing diversified sources of critical minerals for the future.”
Next steps
Positive Scoping Study outcomes enable the immediate start of the PFS, targeted for completion in Q2 2026; subject to a positive PFS, the DFS is targeted for H2 2027.