American Tungsten Corp. Commences Second Drill Rig at IMA Mine

American Tungsten Corp. (CSE: TUNG; OTCQB: TUNGF; FSE: RK90) announced that a second drill rig has begun operations at the IMA Mine in Lemhi County, Idaho. The company is drilling both the upper D‑level and the mid‑Zero Level, following the completion of initial rehabilitation work on the Zero Level.

Key Operational Details

  • Rehabilitation: Approximately 325 ft of the Zero Level has been rehabilitated, and a new drill station (DSZ‑1) has been established in a cross‑cut 120 ft to the northeast.
  • Drilling Equipment: Drilling is being conducted by Rockhead Consulting LLC using a Sandvik DE130 with NQ rods.
  • Program Scope: A total of nine holes, 3,800 ft of drilling, have been planned from DSZ‑1. These holes target the main IMA vein above the Zero Level, south of historical production stopes, and an additional parallel vein system to the northeast, as indicated on historical maps and sections.
  • Future Work: Additional exploratory holes are planned to target the main IMA vein at depth and intrusive‑hosted tungsten‑molybdenum mineralization. A second drill station is scheduled on the Zero Level approximately 720 ft beyond DSZ‑1, where ground conditions are favorable for efficient re‑establishment of mine access.

Executive Commentary

CEO Ali Haji stated that the completion of the initial mine rehabilitation and the commencement of drilling are significant steps toward increasing productivity and accelerating the Phase 1 drill program. He emphasized that identifying new mineralization in under‑explored areas is essential for realizing the full potential of the IMA project.

Market Context

  • Share Price: As of 2026‑02‑16, the closing price was CAD 2.37, below the 52‑week low of CAD 0.47 (2025‑06‑26) and near the 52‑week high of CAD 4.90 (2025‑10‑13).
  • Market Capitalisation: The company’s market cap stands at CAD 122,580,000.

Stonegate Capital Partners released an update on its coverage of American Tungsten Corp. for 2025 Q3 on 2026‑02‑17, indicating continued analyst interest in the company’s exploration activities.

American Tungsten’s recent drilling initiative demonstrates progress in its exploration program at the IMA Mine and may provide new data to support future resource estimation and development planning.