Watershed

The Watershed Project is located 130km north of Cairns in a mining friendly jurisdiction, with granted Mining Leases and an Environmental Authority for an open-pit development.  Former project owner, Vital Metals Limited (Vital Metals) completed a Definitive Feasibility Study (DFS) for the project in 2014.

The Watershed Project substantially adds to Tungsten Mining’s global resource inventory and boasts a JORC 2012 Mineral Resource Estimate of 49.3Mt grading 0.14% WO3 comprising Measured Resources of 9.5Mt at 0.16% WO3, Indicated Resources of 28.4Mt at 0.14% WO3 and Inferred Resources of 11.5Mt at 0.15% WO3 at a cut-off grade of 0.05% WO3 (refer ASX announcement dated 31 July 2018 – June Quarterly Report p23).

JORC Resource Statements

Watershed – JORC 2012 Compliant Mineral Resource at 0.10% WO3 cut-off.

Category Tonnes
(Million)
Grade
% WO3
Metric Tonne Units
WO3
Metal WO3
(Tonnes )
Grade Mo
(PPM) 
Contained Mo
(Tonnes)
Measured 4.4 0.25 1,110,000 11,100
Indicated 11.5 0.24 2,760,000 27,600
Inferred 4.7 0.26 1,230,000 12,300
Total 20.7 0.25 5,070,000 50,070

Note: Totals may differ from sum of individual numbers as numbers have been rounded in accordance with the Australian JORC code 2012 guidance on Mineral Resource reporting.

Refer ASX (Vital Metals) Announcement 4 July 2018, “Watershed Mineral Resources Restatement JORC Code (2012)”