Strategic Tungsten project enters new exploration phase
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| Stock | Iris Metals Ltd (IR1.ASX) |
|---|---|
| Release Time | 15 Jul 2026, 8:40 a.m. |
| Price Sensitive | Yes |
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Iris Metals Commences Exploration at Finley Basin Tungsten Project
Key Points
- Phase I exploration activities have begun at the Finley Basin Tungsten Project in Montana, USA
- Historical exploration data review is complete, supporting the finalization of the initial drill program
- Permitting is progressing for the commencement of Iris' maiden drilling program in Q3 2026
Full Summary
IRIS Metals Limited (ASX: IR1) has announced the commencement of exploration activities at the Finley Basin Tungsten Project in western Montana, USA. This follows a comprehensive review of historical exploration data from Union Carbide, which identified tungsten mineralization. The project aims to verify and expand on this historical data through a planned drilling program expected to start in Q3 2026. The program will involve up to 7,000 meters of diamond drilling across 16 drill hole locations. The Finley Basin Project is strategically important as it adds tungsten exposure to Iris Metals' existing lithium and critical minerals portfolio in South Dakota. The project benefits from established infrastructure and year-round access.
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