TSX- and Nasdaq-listed Perpetua Resources has been awarded $40-million in funding from the US Army’s Defence Ordnance Technology Consortium to evaluate technical and economic feasibility of producing tungsten concentrate at the historical Stibnite mining district that Perpetua operates in Idaho.
Structured as a cost-share programme between the company and the US government, the funding will support drilling to define a potential tungsten mineral resource, collection of material for laboratory and bench-scale metallurgical testing and permitting and engineering of an exploration decline to access areas of known tungsten mineralisation.