American Tungsten Advances of the IMA Mine Project: New Vein Discovery, Strong In-fill Drill results and Ongoing PEA Development
Planned resource-conversion drilling targets inferred mineral resources while engineering and technical work advance toward an economic assessment.
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Rhea-AI Summary
American Tungsten (TUNGF) reported a new vein discovery and additional underground drilling results at its wholly owned IMA Mine Project in Idaho. The 360 portal vein returned 18.9 feet grading 0.536% tungsten trioxide (WO3) and 1.29 troy ounces of silver per ton in AT26-58S. The structure remains open at depth and along strike.
Underground hole AT26-49 returned 18.4 feet grading 0.804% WO3 and 11 feet grading 0.894% WO3; AT26-53 returned 5 feet grading 1.513% WO3. These are drilled intervals, not true widths. American Tungsten expects its Preliminary Economic Assessment, an early-stage evaluation of project economics, before year-end. Approximately 24 holes totaling 12,000 feet are planned to target down-dip extensions and potentially upgrade inferred resources to higher-confidence categories. Additional assays remain pending, while hole AT26-51 was lost before reaching its target.
Positive
- Minor point360 portal vein discovery adds an exploration target open at depth and along strike.
- Minor pointAT26-58S intersected 18.9 feet grading 0.536% WO3 and 1.29 troy ounces of silver per ton.
- Minor pointAT26-52S returned 5 feet grading 0.475% WO3 and 1.46 troy ounces of silver per ton.
- Minor pointAT26-47S returned 15 feet grading 0.249% WO3 and 1.16 troy ounces of silver per ton.
- Minor pointAT26-49 intersected 18.4 feet grading 0.804% WO3 in the 5 vein.
7 minor points
- Minor pointAT26-49 also intersected 11 feet grading 0.894% WO3 in the 7 vein.
- Minor pointAT26-53 returned 5 feet grading 1.513% WO3 in the 5 vein.
- Minor pointAT26-37 expanded mineralization associated with the 4S and 41-R veins; results included 1 foot grading 2.415% WO3.
- Minor point. Forward-looking: it has not happened yet and may not happen.Preliminary Economic Assessment is expected before year-end, with engineering, metallurgical and geological work advancing.
- Minor point. Forward-looking: it has not happened yet and may not happen.Approximately 24 holes totaling 12,000 feet are planned to target down-dip extensions and potential resource conversion.
- Minor pointApproximately 9,300 feet of drilling were completed in six surface holes and thirteen underground holes during August and September.
- Minor point. Forward-looking: it has not happened yet and may not happen.A 230-foot crosscut was completed; another crosscut is being driven to establish a second drill station.
Negative
- Minor pointAT26-51 was lost short of its planned 800-foot target and reported no significant intercepts.
- Minor pointAT26-46 intersected multiple minor veins with low-grade tungsten mineralization in its footwall step-out.
- Minor point. Forward-looking: it has not happened yet and may not happen.Assays remain pending for AT26-56S and AT26-62S and will guide additional step-out drilling.
- Minor pointAugust–September drilling assays remain outstanding for veins intersected approximately 800 feet along strike and 300 feet up-dip of prior drilling.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Patterson, Idaho and Toronto, Ontario--(Newsfile Corp. - October 29, 2026) - American Tungsten Corp. (TSXV: TUNG) (OTCQX: TUNGF) (FSE: RK90) ("American Tungsten" or the "Company") announced today ongoing advancement of its wholly owned IMA Mine Project in Idaho, where ongoing surface and underground drilling continues to support resource conversion, resource expansion and engineering studies as the Company progresses development of a Preliminary Economic Assessment ("PEA").
New Vein Discovery
Drilling results from initial surface exploration holes completed in the base of the canyon successfully intercepted a newly identified vein – the 360 portal vein. Assays have been received for four of six holes targeting the structure with significant results including:
- 18.9 ft grading
0.54% WO3 and 1.29 oz/t Ag in hole AT26-58S - 5 ft grading
0.47% WO3 and 1.46 oz/t Ag in hole AT26-52S - 15 ft grading
0.25% WO3 and 1.16 oz/t Ag in hole AT26-47S
The 360 portal vein is a moderately northeast dipping hubnerite-tetrahedrite mineralized quartz vein which was mined near-surface historically and extends over 200 feet at depth based on recent drilling results. The structure is projected along strike with historically reported vein occurrences on the south side of the canyon. Presence of significant tungsten-silver mineralization over significant widths establishes the vein as an additional exploration target which is open at depth and along strike. Current drilling has intersected the vein over 200ft along strike and down dip. Assays for additional holes AT26-56S and AT26-62S are pending and will guide additional step out drilling on the structure.
Figure 1: Section view looking NW of the 360-Portal, showing completed drillholes, vein projections and historic workings onto section plane.
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Infill Drilling
In addition to the 360-portal vein intercepts, underground infill and step out drilling on the D level continues to expand and better delineate the upper-Ima vein system. Significant results include:
- 18.4 ft of
0.804% WO3 in the 5 vein, and 11 ft grading0.894% WO3 in the 7 vein in hole AT26-49; and - 5 ft grading
1.53% WO3 in the 5 vein in AT26-53.
Drillholes AT26-49 and AT26-53 were upwardly inclined holes drilled to the north and west respectively from underground drill-stations DS3 and DS1 and were designed to expand and step out from previous drilling. Hole AT26-46 was drilled down into the footwall of the D level vein system to step out on previously reported intercepts in AT26-20, and intersected multiple minor veins with low-grade tungsten mineralization. AT26-51 on the zero level was designed to 800 feet to target molybdenum mineralization intersected in historical Gentor drillhole IMA-27 but the hole was lost short of target depth. Hole AT26-37 on the zero level expanded mineralization associated with the 4S and 41-R vein, as previously reported.
New drillhole results are reported in Table 1 below. Assays for additional completed drillholes are pending, and drillholes are not always numbered or logged sequentially.
| Hole ID | Location | Azimuth | Dip | Length (ft) | From (ft) | To (ft) | Length | WO3_% | MoS2_% | Ag opt | Cu % | Pb % | Zn % |
| AT26-37 | Zero Level | 350 | 30 | 454 | 100 | 101 | 1 | 2.415 | 0.12 | 2.98 | 0.175 | 0.43 | 0.47 |
| 134 | 137.3 | 3.3 | 0.371 | 0.01 | 0.17 | 0.009 | 0.01 | 0.01 | |||||
| AT26-46 | D Level | 64.7 | -63.1 | 449 | 29 | 33.5 | 4.5 | 0.213 | 0.01 | 0.08 | 0.027 | 0.02 | 0.02 |
| 69 | 74 | 5 | 0.235 | 0.01 | 0.14 | 0.035 | 0.03 | 0.05 | |||||
| 129 | 134 | 5 | 0.224 | 0.01 | 0.29 | 0.010 | 0.07 | 0.01 | |||||
| 164 | 169 | 5 | 0.159 | 0.03 | 0.05 | 0.005 | 0.02 | 0.01 | |||||
| AT26-47S | 360 Portal | 300 | -45 | 360 | 184 | 199 | 15 | 0.249 | 0.01 | 1.16 | 0.112 | 0.09 | 0.21 |
| AT26-49 | D Level | 2.6 | 59 | 411 | 17.7 | 23 | 5.3 | 1.322 | 0.08 | 5.38 | 0.555 | 0.47 | 0.22 |
| 106.3 | 124.7 | 18.4 | 0.804 | 0.02 | 2.34 | 0.250 | 0.19 | 0.15 | |||||
| 173 | 178 | 5 | 0.135 | 0.01 | 0.08 | 0.029 | 0.01 | 0.01 | |||||
| 225 | 236 | 11 | 0.894 | 0.02 | 0.95 | 0.076 | 0.26 | 0.10 | |||||
| 296.3 | 301 | 4.7 | 0.627 | 0.11 | 1.78 | 0.203 | 0.13 | 0.11 | |||||
| 356 | 363 | 7 | 0.240 | 0.02 | 0.37 | 0.063 | 0.06 | 0.03 | |||||
| AT26-51 | Zero Level | 40.2 | -71.6 | 466 | hole lost short of target - no significant intercepts | ||||||||
| AT26-52S | 360 Portal | 229.1 | -72.7 | 512.5 | 139 | 144 | 5 | 0.475 | 0.01 | 1.46 | 0.078 | 0.24 | 0.19 |
| AT26-53 | D Level | 95.3 | 43.9 | 463 | 93 | 98 | 5 | 0.238 | 0.08 | 0.04 | 0.033 | 0.01 | 0.05 |
| 183 | 188 | 5 | 1.513 | 0.01 | 0.21 | 0.029 | 0.05 | 0.01 | |||||
| 248 | 253 | 5 | 0.179 | 0.02 | 0.19 | 0.036 | 0.02 | 0.03 | |||||
| 273 | 278 | 5 | 0.121 | 0.06 | 1.08 | 0.015 | 0.07 | 0.00 | |||||
| AT26-55S | 360 Portal | 240 | -45 | 368 | 204 | 207.5 | 3.5 | 0.131 | 0.00 | 0.86 | 0.072 | 0.03 | 0.08 |
| AT26-58S | 360 Portal | 278.2 | -52.7 | 599.5 | 151.3 | 170.2 | 18.9 | 0.536 | 0.02 | 1.29 | 0.093 | 0.15 | 0.38 |
1. True width is estimated at 65
2. WO3 and MoS2 % values are calculated from ppm analyses based on stoichiometry factors of 1.2611 and 1.668; silver is reported in troy ounces per ton.
3. Composites are generated using cut-off grades of
Figure 2: Plan map of all American Tungsten drilling completed to date, with newly reported holes highlighted.
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https://images.newsfilecorp.com/files/11701/321442_a365d0d314aa1b63_002full.jpg
Following the Company's recently announced Mineral Resource Estimate ("MRE") and successful step out drilling, the company is now transitioning exploration work towards in-fill and resource conversion drilling to increase geological confidence within known mineralized zones and convert inferred mineral resources to measured and indicated confidence categories.
In parallel with the drilling activities, the Company continues advancing engineering, metallurgical and geological work streams required for the completion of a Preliminary Economic Assessment. Data generated from the current drill program is expected to support future resource updates and mine planning studies, which are expected to evaluate the economic potential of the project and support future development planning. Data generated from the ongoing drill program is also expected to support definition of Measured and Indicated Mineral Resources and Mineral Reserves as the Company advances the IMA Mine toward potential future development.
"The recently announced Mineral Resource Estimate marked an important milestone for the IMA Mine Project, confirming the scale, grade and strategic importance of this domestic tungsten asset. With the discovery of the 360 Portal Vein and continued positive infill drilling results, we are demonstrating both the growth potential of the deposit and the continuity of mineralization within key resource areas. Our current program is focused on advancing resource conversion, supporting future resource expansion opportunities and providing critical inputs for the Preliminary Economic Assessment, expected before year-end. Together, these initiatives continue to de-risk the project and strengthen our vision of developing a secure, long-term North American source of tungsten," said Ali Haji, CEO of American Tungsten Corp.
Recent exploration work has focused on expanding the No.3-5-7-9 vein system to the northeast, up-dip from the D-level. In August and September, the company completed approximately 9300 feet of drilling in six surface holes and thirteen underground holes. Underground drilling was completed from newly developed footwall crosscuts on the D level driven 300 feet northeast of previous D-level drill stations. Surface drilling was completed from existing mine roads and newly developed drill pads. Drilling has intersected mineralized quartz veins over an area approximately 800 feet along strike and 300 feet up-dip of prior drilling. Assay results for this drilling have not been received and will be released when available.
The next exploration phase will involve in-fill and resource delineation drilling in the down dip extension of the the No.3-5-7-9 vein system. A new crosscut has been completed from the historical D level mine workings 230 feet to the northwest into the hanging wall of the 9 vein. An additional crosscut is being driven from the 7 vein drift to establish a second drill station in the hanging wall. Approximately 24 holes totaling 12,000 feet are currently planned from these stations targeting the down-dip extension of the principal veins where they extend from the Ima onto the Mazda claim group. This drilling is designed to target mineral resources currently classified as inferred, and to expand the lateral extents of the vein system beyond historical drillholes and historical mining areas and may contribute to the conversion of portions of the current inferred mineral resource to higher-confidence classifications.
The Company believes resource conversion drilling represents an important step in advancing the IMA Mine Project. By increasing confidence within known mineralized zones while concurrently progressing the PEA, American Tungsten is continuing to build upon the foundation established by the recent MRE and further position IMA as a potential domestic source of tungsten for North America.
Figure: AR-175 core rig on hole AT26-83S, September 23, 2026.
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Figure: Crews advancing the crosscut to new underground drill station, August 25, 2026.
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https://images.newsfilecorp.com/files/11701/321442_americantungsten4.jpg
About the IMA Mine
The IMA Mine is a past-producing underground tungsten mine situated on 22 patented claims located in east-central Idaho. Between 1945 and 1957, the property produced approximately 199,449 MTUs of WO₃ and was subsequently explored for molybdenum and tungsten by various operators between 1960 and 2010. The Company recently announced a Mineral Resource Estimate for the IMA Mine comprising 316,000 tonnes of Indicated Mineral Resources grading
About American Tungsten Corp.
American Tungsten Corp. is a Canadian-based exploration and development company focused on advancing the IMA Mine Project, a high-quality, private-patented, past-producing underground tungsten mine located in Idaho, USA. The Company's strategy is centered on advancing the IMA Mine back toward commercial production through a clearly defined, phased development approach. Phase I involves the evaluation and potential processing of existing surface tailings, providing a lower-capital pathway to potential near-term production. Phase II is focused on the rehabilitation and potential restart of the historic underground mine, leveraging the site's extensive existing infrastructure and historical production profile.
With tungsten recognized as a critical metal for defense, industrial manufacturing and advanced technologies, American Tungsten is focused on re-establishing domestic tungsten production and supporting North American supply-chain security. www.americantungstencorp.com
QA/QC and Sample Analysis
American Tungsten Corp's Quality Assurance and Quality Control QA/QC program applies industry standard best practices to ensure data quality and integrity for the IMA Mine project, including maintaining chain of custody, secure sample transport and storage, adherence to data collection protocols and inclusion of certified reference, blank and duplicate quality assurance samples in laboratory submissions.
Samples were submitted to ALS Global laboratory in Twin Falls, Idaho, for preparation. Samples were crushed to
Qualified Person
Technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI-43-101"). Austin Zinsser, P.G., SME-RM, Vice President, Exploration for the Company, and a Qualified Person as defined by NI-43-101, has reviewed and approved the scientific and technical information in this news release.
For Further Information
Ali Haji, Chief Executive Officer
Email: ahaji@americantungstencorp.com
Joanna Longo, Investor Relations
Email: ir@americantungstencorp.com
Social media links:
https://www.linkedin.com/company/americantungstencorp/
https://x.com/amtungsten
https://www.facebook.com/americantungstencorp/
https://www.instagram.com/americantungstencorp/
https://www.youtube.com/@americantungstencorp
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. Any statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions intended to identify forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the Company's planned exploration and drilling programs; the timing and cost of anticipated exploration activities; the prospective mineralization of the Company's properties; potential conversion or expansion of Mineral Resources; advancement of a Preliminary Economic Assessment ("PEA") before year end 2026, metallurgical, engineering, environmental and permitting work; and the timing and ability of the Company to advance the IMA Mine toward production. There can be no assurance that such statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements.
Mineral Resources are not mineral reserves and do not have demonstrated economic viability. Mineral resource estimates do not take into account factors such as mineability, mining selectivity, mining losses, or dilution. These estimates include inferred mineral resources, which are considered too speculative geologically for economic factors to be applied in a manner that would support their categorization as mineral reserves. Furthermore, there is no assurance that inferred mineral resources will be converted to the measured and indicated categories through additional drilling, or ultimately categorized as mineral reserves once economic considerations have been applied. The estimate of mineral resources may be materially affected by metal price and cut-off grade assumptions, mining, processing and other cost assumptions, geological uncertainty and continuity of mineralization, results of future drilling and sampling programs, factors associated with use of historical data, geotechnical factors, environmental permitting, legal and land tenure, political or infrastructure factors. There are no known factors related to metallurgical, environmental permitting, legal, title, taxation, socioeconomic, marketing or political issues which could materially affect the estimates.
Statements concerning historical production and exploration results on the property have been obtained through public and private sources and are believed to be substantially factual and relevant. Factors that could cause actual results to differ materially from forward-looking statements are set out in the Company's public disclosure record available on SEDAR+ under the Company's issuer profile. Readers are cautioned not to place undue reliance on forward-looking statements, as such information, although considered reasonable by management at the time of preparation, may prove incorrect and actual results may differ materially from those anticipated.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321442
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did American Tungsten discover at the IMA Mine's 360 portal vein?
American Tungsten identified the 360 portal vein, with AT26-58S returning 18.9 feet grading 0.536% WO3 and 1.29 troy ounces of silver per ton. The vein remains open at depth and along strike.
When does American Tungsten expect the IMA Mine Preliminary Economic Assessment?
American Tungsten expects the IMA Mine Preliminary Economic Assessment before year-end. Engineering, metallurgical and geological work is advancing alongside drilling intended to support resource updates and mine planning.
How do true widths compare with American Tungsten's reported IMA Mine drill intervals?
Estimated true widths are 65–70% of reported intervals for AT26-47S, AT26-52S and AT26-55S; 75–90% for AT26-58S and AT26-46; and 60–65% for AT26-37, AT26-49 and AT26-53. The reported drill lengths therefore do not represent the full perpendicular thickness of the veins.