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Updated estimate reduces tungsten resources at TopTung's Torrington

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Updated estimate reduces tungsten resources at TopTung's Torrington

An updated estimate reduced tungsten resources at TopTung Ltd.'s Torrington property in New South Wales, Australia, after the mineralization was found to be not as continuous as previously thought.

The company said March 22 that the size of the Wild Kate deposit decreased by 33% with the tungsten grade falling by 54%, while tonnage at the Mount Everard deposit dropped 90% with the tungsten grade increasing slightly, by 4%.

Contained tungsten decreased from 2,875 tonnes to 301 tonnes at Wild Kate and from 367 tonnes to 26.5 tonnes at Mount Everard, according to the statement.

TopTung flagged the decrease in August and October of 2017 as well as earlier in 2018, based on field observations during drilling.

The two deposits now host indicated and inferred resources totaling 341,400 tonnes grading an average 958 parts per million of tungsten, or 0.0958% tungsten, for 327.5 tonnes of contained tungsten.

In comparison, the August 2015 estimate defined 2.1 million tonnes of indicated and inferred resources grading 0.23% tungsten trioxide, or 0.18% tungsten, for 4,965 tonnes of contained tungsten trioxide, or 3,937 tonnes of contained tungsten.

TopTung said the data from its 2017 drill program had completely replaced historical drilling, and that it does not plan to evaluate the tungsten potential of old workings and outcrops within its tenements in the immediate future.

The company is focusing on establishing topaz purity for bulk market applications and an ongoing topaz research program with the University of New South Wales.