American Tungsten Corp. Advances Its Tungsten Exploration and Secures Significant Financing
American Tungsten Corp. (CSE: TUNG, OTCQB: TUNGF, FSE: RK90) announced a series of developments that underscore the company’s expanding footprint in high‑value tungsten resources and its growing financial flexibility.
1. New Mineralization Data from the IMA Mine, Idaho
On March 25 2026, the company released drilling results from the second drill station on the D‑Level of the IMA Mine in Lemhi County, Idaho. All drill holes reported significant tungsten‑silver intercepts, confirming the continuity of the polymetallic vein system along strike and up‑dip from historically mined areas. Key highlights include:
| Drill Hole | Length (ft) | WO₃ Grade (%) | Ag Grade (oz/t) |
|---|---|---|---|
| AT25‑08 | 28.3 | 0.39 | 1.08 |
| AT25‑09 | 26.2 | 0.33 | 1.62 |
| AT25‑10 | 10 | 0.80 | 1.91 |
Ali Haji, CEO, remarked that the results “further reinforce the continuity and scale of the tungsten‑silver vein system at the IMA Mine.” The data support the company’s understanding of vein geometry and suggest the resource extends up‑dip and along strike from existing workings, positioning the mine as a potentially large‑scale tungsten project.
2. Strategic Investment in Viking Mines Limited
Earlier in March, American Tungsten completed a minority investment in Viking Mines Limited. The transaction involved subscription for 150 million ordinary shares, valued at AU$750,000, following shareholder approval. This investment is part of a broader financing effort undertaken by Viking Mines. The company also closed a private placement that raised CA$40 002 060, with Stifel Canada acting as lead underwriter. The proceeds enhance American Tungsten’s liquidity and support its exploration and development activities.
3. Broader Market Context for Tungsten and Antimony
German‑language coverage on March 24 2026 highlighted the strategic importance of tungsten (wolfram) and antimony in modern high‑performance technology and defense sectors. The article noted that American Tungsten’s projects in the United States offer an alternative to China‑dominated supply chains, reinforcing the company’s positioning within a geopolitical shift toward secure, domestically sourced critical minerals.
4. Financial Snapshot
- Market Capitalisation: CA$118 404 096
- Close Price (March 23 2026): CA$2.41
- 52‑Week High: CA$4.90 (October 13 2025)
- 52‑Week Low: CA$0.47 (June 26 2025)
- Price/Earnings Ratio: –8.666 (negative due to exploration‑stage losses)
The company’s recent drilling success, coupled with the infusion of capital, positions American Tungsten to accelerate development at the IMA Mine and to explore additional tungsten and antimony prospects in politically stable regions of the United States. Investors observing the critical‑minerals sector may view these developments as a step toward establishing a reliable North American source of tungsten, a metal essential to high‑temperature alloys, hard‑metals, and various defense applications.
