Identifies Principal Exploration Target for the IMA Mine Project in Idaho, USA
American Tungsten Corp. Identifies Principal Exploration Target
for the IMA Mine Project in Idaho, USA
Vancouver, BC, March 11, 2025 – American Tungsten Corp. (CSE:TUNG)
(OTCQB:DEMRF) (FSE:RK9) (“American Tungsten” or the “Company”) announced that it
has identified a principal tungste n exploration target on the IMA Mi ne and is initiating planning
and execution of a verification and in-fill drill program.
The principal tungsten target is defined based on on-going compilat ion of historical drilling and
underground sampling completed by the Inspiration Development Company (“ Inspiration
Development”), and historical mineral reserves defined by the Bradley Mining Company
(“Bradley Mining”)(1). Numerous additional exploration targets have also been identified.
The IMA Mine is a past produci ng underground tungsten mine situ ated on 21 patented claims
located in East Central Idaho. Between 1945 and 1957, the property pr oduced approximately
199,449 MTUs of WO3 and was subsequently explored for molybdenum and tungsten by various
operators between 1960-2008(2).
The up-dip extension of the IMA vein system, prin cipally above the “D Level” of the mine, was
recognized as containing signi ficant mineralized materials by both the Bradley Mining and
Inspiration Development. Minimal historical mining was conducted above the D Level of the mine.
1980s drilling by Inspiration Development intersect ed multiple tungsten veins above the D level
in an area up to 500 feet up-dip and 1000 feet al ong-strike. This target is located principally on
IMA Mine patented mining claims.
The no. 5 and no. 7 veins were systematically sampled underground by Inspiration Development
on the D Level in 1979 (3). The no. 5 vein drift samples report edly averaged 5.3 feet wide and
returned 0.44% WO3 and 2.63 opt Ag over a strike length of 520 feet. The no. 7 vein drift sample
reportedly averaged 6’ wide and returned 0.43% WO3 and 2.01 opt Ag over a strike length of 408’.
Historical drillhole intersects in ID-9 and ID-7, up-dip (east) of the D Level include 4.6’ of 1.09%
WO3 and 3’ of 0.84% WO3 in the no. 5 vein, and 5.4’ of 0.78% WO3 in the no. 7 vein(4). Additional
intercepts in historical drilling suggest potential for continuation of the no. 3 vein and no. 9 above
1 The historical resource estimates references in this presentation pre-date the implementation of NI 43-101 and do not use categories stipulated
by CIM, and they may not have demonstrated economic viability. The estimates were prepared for the Inspiration Development Company, or
Bradley Mining Company and should not be relied upon until they have been verified. American Tungsten Corp has not verified these historical
estimates. The historical estimates are discussed or referenced only to demonstrate the tenor and size of exploration targets that exist on the
property.
2 Bradley Mining Company, 1958; Summarized Information on IMA Mine, Lemhi Co, Patterson, Idaho. Company Report, 6p.
3 Historical Sampling information is reported based on internal Inspiration company reports, maps and lab certificates. Neither ATC, nor its
qualified person has done sufficient work to verify or validate historical sampling information. Historical information should not be relied upon
until it has been verified. Drift sample quoted widths are reported in historical documents as weighted averages representing true widths. Source:
Inspiration Development Co; 1980 Progress Report, IMA Property, ID, 12p.
4 Historical drillhole intercepts are length weighted composites reported based on internal Inspiration company reports. Neither ATC, nor its
qualified person has done sufficient work to verify historical drillhole data or calculated composites. Reported intersects may not represent true-
width of mineralization as geometry of mineralization has not been verified. Source: Inspiration Development Co; 1980 Progress Report, IMA
Property, ID, 12p.
and below the primary veins and generally suppor t strong lateral and vert ical continuity of
mineralization, to the north, south and west.
The vein system is currently accessible undergr ound via the D level, an approximate 7x7 foot
access drift extending northward approximately 1,500 linear feet, as accessed by American
Tungsten personnel in December 2024. The D level and portions of the zero level were
rehabilitated in the 1980s by Inspiration Development and current existing ground conditions were
deemed excellent in the initial underground assessment.
“Mineralization on and a bove the D level is our current focu s area” said Murray Nye, CEO of
American Tungsten. “Existing access and historical drilling demonstrating geological continuity
of the system make this area the obvious target for in-fill drilling and mineral resource delineation.”
Additional drilling and sampling will likely be re quired to establish continuity and grade of
mineralization in the IMA vein system above the D level. The exploration program will entail
general rehabilitation of the D level access drift and construction of a crosscut and one or two drill
stations in the footwall of the vein system. Drill fans, consisting of multiple holes averaging 200-
400 feet length will be completed to assess continuity of the no. 5, no. 7, and additional veins with
the objective of delineating 200-400k tons of mineralized materials. It is currently estimated that
3,000-6,000 feet of drilling in 10-20 holes, from one to two drill stations will be required to
establish continuity and grade of mineralization.
The potential quantity and grade of mineralization expressed above is conceptual in nature. There
is currently insufficient exploration information to define a mineral resource. It is uncertain
whether a mineral resource will be delineated. Historical Sampling information is reported based
on internal Inspiration Development company reports, maps and lab certificates. Neither American
Tungsten, nor its qualified person has done sufficient work to verify or validate historical sampling
information. Historical information should not be relied upon until it has been verified.
Additionally, the Company plans a comprehensive historical data verification program which will
consist of resampling and assaying of historic al core and pulps from the 2008 Gentor drilling
program, re-sampling of Inspir ation Development underground drif t samples, and potentially
twinning of select historical drillholes.
ABOUT AMERICAN TUNGSTEN CORP.
American Tungsten Corp. (previously Demesne Re sources Inc.) is a Ca nadian-based company
involved in the acquisition and e xploration of magnetite mineral properties. The Company's Star
Project consists of five contiguous mineral titles covering an area of approximately 4,615.75
hectares located in the Skeena Mining Division, British Columbia, Canada. The Company has
entered into an option agreement pursuant to which it is entitled to earn an undivided 100% interest
in the Star Project. American Tungsten has also entered into an option agreement, pursuant to
which it can acquire a 100% interest (subject to a 2% royalty) in and to the IMA Mine Project, a
past producing underground tungsten mine situated on 21 patented claims located in East Central,
Idaho, United States. In addition, the Company has acquired surrounding mining rights at its IMA
Mine Project through the staking of 113 WMO federa l lode mining claims co vering an area of
1,988.6 acres (804.75ha).
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ON BEHALF OF THE BOARD OF DIRECTORS:
Murray Nye
CEO
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Murray Nye, CEO
Email: [email protected]
Phone: +1 (416) 300-7398
CSE:TUNG
OTCQB:DEMRF
FSE:RK9
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of
this release and has neither approved nor disapproved the contents of this press release.
This news release includes certain statem ents that may be deemed “forward-looking
statements”. All statements in this news release, other than statements of historical facts, that
address events or developments that the Com pany expects to occur, are forward-looking
statements. Forward-looking stat ements are statements that ar e not historical facts and are
generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”,
“intends”, “estimates”, “projects”, “potential” an d similar expressions, or that events or
conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes
the expectations expressed in such forward- looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in the forward-look ing statements. Forward looking statements in
this news release include statements respectin g: (i) the IMA Mine Project and the mineral
prospects thereon, (ii) the Company's perfor mance of its obligations under the Option
Agreement, and the exercise of the option thereunder, and (iii) the Company's planned activities
on the IMA Mine Project. Factors that could cause the actual results to differ materially from
those in forward-looking statements include the receipt of regulatory approvals, market prices,
continued availability of capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments ma y differ materially from those projected in
the forward-looking statements. Forward-looking statements are based on the beliefs, estimates
and opinions of the Company’s management on the date the statements are made. Except as
required by applicable securiti es laws, the Company undertakes no obligation to update these
forward-looking statements in the event that management's beli efs, estimates or opinions, or
other factors, should change.
Statements concerning historical mineral resources, production, and exploration results on the
property have been obtained through both public and private sources, and are believed to be
substantially factual and relevant in that they demonstrate the te nor of exploration targets on
the property. Historical resource estimates pre-date the implementation of NI 43-101 and do not
use categories stipulated by CIM. Prior operators assigned confidence categories which differ
from those stipulated by CIM, as they may not have demonstrated economic viability. The
estimates should not be relied upon until they have been verifi ed. Neither American Tungsten
Corp., or its Qualified Person, has done sufficient work to classify the historical estimates as
current mineral resources or to verify historical information regarding past production,
sampling or drilling. American Tungsten Corp. is not treating the historical estimates as current
mineral resources or mineral reserves. Exploration Targets discussed are conceptual in nature;
it is uncertain whether a mineral resource will be delineated based on potential exploration.
Technical information in this news release has been prepared in accordance with Canadian
regulatory requirements set out in National In strument 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 Presentation.