Allied Critical Metals (ACM.C) has released an updated resource estimate on its fully owned Borralha tungsten project in Portugal. The project now contains 13 million tonnes in the measured and indicated resource category at an average grade of 0.21% WO3, with an additional 7.7 million tonnes in the inferred resource category at an average grade of 0.18% WO3.
This means the measured and indicated resources already host 27,000 tonnes of WO3, which represents approximately 2.7 million mtu. The inferred resource category hosts approximately 1.4 million mtu. The resource remains open in multiple directions so it will be interesting to see how many tonnes can be added further down the road.
The updated resource will now be used for a Preliminary Economic Assessment which will be published in the first quarter of next year. The mine plan will likely be based on a long-hole stoping approach, and that’s how the 0.09% WO3 cutoff grade was established. Initial metallurgical results indicate a low-cost gravity flow sheet with a recovery rate of 75-85%, while there is a chance to recover copper, tin and silver as potential by-product credits (the impact of these by-products will hopefully already be visible in the Preliminary Economic Assessment).
Disclosure: The author has no position in Allied Critical Metals. 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.
