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Perpetua makes tungsten discovery at Gold-Stibnite project in Idaho
['Amanda Stutt']
MINING.COM
Stibnite gold-antimony project in central Idaho.
Perpetua Resources (Nasdaq: PPTA) (TSX: PPTA) said on Thursday it has identified gold and antimony exploration targets with the potential for extensions of the permitted pits within its Stibnite project in Idaho, and that it identified potential sources of tungsten.
The US had been mining tungsten, but it was no longer commercially viable due to low prices and competition from China.
China dominates global tungsten production, accounting for over 80% of last year’s total output of 81,000 tons, according to the USGS.
These results collectively demonstrate further opportunities to grow and unlock the 3.1 million ounces of indicated and inferred gold resources and 99.8 million pounds of antimony resources that are located outside current reserves, Perpetua said.