NEW YORK Junior mining company Tungsten Corp. has acquired options on 100 percent of the tungsten mineral rights at properties in Nevada and Idaho.
The Nevada property encompasses 2,300 acres in the Cherry Creek Project and contains 32 patented and unpatented mining claims. The districts mines were idle from 1958 to 1972; a period of renewed activity lasted until 1977, when tungsten imports effectively shuttered U.S. production, the New York-based company said April 22.
Meanwhile, the company has also acquired tungsten mineral rights in an area known as the Wildhorse Mine property in Idaho.
The area once had a mill that processed tungsten ore from three nearby open-pit mines. Operations were discontinued in the 1950s due to falling prices and a lack of commercial demand.
Both locations are already serviced with roads, electricity and water, making them ideal prospects for re-entry and eventual renewal of commercial production, Tungsten Corp. president Guy Martin said in a statement. We aim to mobilize teams of geologists and mine engineers to both locations shortly in order to sample, assess and prepare work plans and budgets for the upcoming field season.
The company also recently acquired Nevada Tungsten Holdings Ltd. (amm.com, April 12