Posted in | Tungsten | Mining Business

Tungsten Announces Acquisition of Mineral Rights at Productive Locations in Nevada and Idaho

Tungsten Corp. ("Tungsten Corp." or the "Company"), an exploration stage company focused on the evaluation, acquisition and development of domestic tungsten mining opportunities, is pleased to advise it has launched its corporate website at www.tungsten-corp.com where additional details of its activities may be found.

The Company is further pleased to advise today that it has acquired options on 100% of the tungsten (WO3) mineral rights at two historically documented and productive locations in both Nevada and Idaho.

In Nevada, the Company has acquired option rights as regards 32 patented and unpatented mining claims prospective for tungsten mineralization in the Cherry Creek District, approximately 90 miles south of the town of Wells, in White Pine County, Nevada. The Cherry Creek Project encompasses approximately 2,300 acres within a 36 square mile area along the eastern slope of the Cherry Creek Range at a surface elevation of between 2,130 and 2,440 masl (meters above sea level).

Tungsten was discovered in the area in 1915, and the district produced about 100 units* of W03 during World War I. Except for a few units in 1937 the district yielded little tungsten until 1940-58 during which time about 30,000 units were produced with most sold to the US Government for stockpiling as commercial demand fell. Most of the ores were concentrated in a 50-ton gravity flotation plant about 1 mile west of the town of Cherry Creek. The tungsten mines of the district were idle from 1958 to about 1972, when a short period of renewed activity lasted until 1977 when overseas tungsten imports effectively shuttered national production.

The Company's flagship claim location is the TiCup ("Teacup") mine with documented historic tungsten (WO3) production of 24,589 units (1941-56, 1972-1977). Other historically productive mines within the claim area include; Big Giant - 183 units (1954), Chance - est. 300 units (1916, 1937, 1977), Gypsy Mine - 22 units (1954), Only Chance - 1,286 units (1952-57), Pine Nut - 1,000 units (1942, 1952-56), Scheelite King - 341 units (1954-56) and Shoestring Mine - est. 1,800 units (1916-18, 1951-54, 1977).

In related news, Tungsten Corp. has acquired an option for 100% of the tungsten mineral rights in an area known as the Wildhorse Mine property, located approximately 50 miles west of the town of Mackay, in Custer County, Idaho. In September 1954, a 40-ton mill was in operation processing tungsten ore from open-pit operations on three deposits known as Steep Climb, Hard to Find and Beaver, all within an area two miles long by three-quarters of a mile wide.

Development and production at the property continued through 1955 and in 1956 the site produced 28 tons of tungsten concentrate averaging 71 percent WO3. Total mine workings were one tunnel (200 feet long), two raises, and three open pits. Operations were discontinued due to falling prices and lack of commercial demand exhibited at the time.

Company President Guy Martin advises, "We are very pleased to commence our activities with the acquisition of these two historically notable and prospective locations that offer great opportunity for relatively rapid resumption of mining activity. Both locations are already serviced with roads, electricity and water, making them ideal prospects for re-entry and eventual renewal of commercial production. 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."

*NOTE: Tungsten prices in many instances are quoted in units of tungsten trioxide (WO3). The short ton unit, which is used in the United States, is 1% of a short ton (20 pounds), and WO3 is 79.3% tungsten. A short ton unit of WO3, therefore, equals 20 pounds of WO3 and contains 7.19 kilograms (kg) (15.86 pounds) of tungsten.

Source: http://www.tungsten-corp.com/

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