Increased tungsten content has been found in the latest resource drilling done at EQ Resources’ Mt Carbine Project 120 kilometres north of Cairns in Queensland.
A total of 10 holes for 2121.9m have been drilled since the last resource statement on September 3, 2021, which has delineated a continuation of the mineralisation for 350m west of the pit in called the Dyke West Area.
The new mineral resource estimate resulted in an upgrade of 13.75 per cent of contained tungsten for the global resource inventory.
The indicated resources have grown significantly from a contained 1.78 million mtu (metric tonne units) to 3.3m mtu, an increase of 85.6 per cent, which is a combination of newly located tungsten zones and an upgrade of some of the inferred resources.
EQR chief executive officer Kevin MacNeill said the updated mineral resource was an important milestone for the company’s open pit project, underpinning the potential of the deposit and the synergy around the West Dyke Area with the early underground studies.