IDEX Metals (IDEX.V) has released the re-assay results of the remaining four holes that were drilled as part of the 2025 Phase I drill campaign on the Kismet target of its Freeze property. All six holes of the 2025 program have encountered tungsten, confirming the mineral is present over a more widespread area.
The re-assaying program indicated that while the four-acid test method (which was initially used) and the SPF re-assay method have comparable values at low to moderate grades, but the four-acid method did not fully catch the importance and grade of the higher grade samples. IDEX highlights KSMT25004 where the four-acid test indicated 722 ppm W but the SPF test yielded in excess of 6,400 ppm W (which is the equivalent of 0.81% WO3).
As we previously indicated, tungsten could be an interesting addition to the already known set of minerals at Kismet. A grade of 0.1% WO3 represents 0.1 mtu. And with tungsten still trading at approximately $3,000 per mtu, even a combined recovery and payability percentage of 50% (note, this is just a pro forma example, the company has not yet completed any metallurgical test work to recover the tungsten) could add quite a bit of value to the project.
Disclosure: The author has no position in IDEX Metals. IDEX currently is not a sponsor of the website, but has been a sponsor in the past twelve months. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
