GWR hold a 13.2% equity interest in ASX-listed company Tungsten Mining NL (“Tungsten Mining”) (ASX:TGN), an Australian based resources company whose prime focus is the exploration and development of tungsten projects in Australia. Since August 2014, GWR has been responsible for the provision of management and technical services to Tungsten Mining.
Tungsten is a high value industrial metal used in the manufacture of hardened metals (cemented carbides), steel alloys and mill products. Its application in heavy construction machinery, drilling for minerals and oil/gas and in high temperature equipment makes tungsten a mineral of strategic importance.
Tungsten Mining has three advanced tungsten projects in Australia - the Mt Mulgine Project in the Murchison region, the Big Hill Project in the Pilbara region and the Kilba Project in the Ashburton region of Western Australia. Together these projects contain a tungsten mineral resource of 88.6 Mt at 0.18% WO3 and 186ppm Mo, representing more than 15.5 million MTU (metric tonne units) of WO3 and 16,482 tonnes of molybdenum at a 0.10% WO3 cut-off grade, making it one of the largest tungsten mineral resources held by an ASX-listed company. (Refer ASX Release for TGN dated 23 June 2016 “Mineral Resource Update and Core Sampling Results” for a detailed JORC-2012 breakdown).
Tungsten Mining is currently identifying opportunities for near term tungsten production, particularly from the Mulgine Trench and Hill deposits within the Mt Mulgine Project.