Great Western Mining Corporation PLC (LON:GWMO), the exploration and development company focused on Nevada’s mineral-rich landscape, has unveiled highly promising assay results from its tungsten prospects, located near the historically significant Pine Crow and Defender mines in southwestern Nevada. According to a research note by Shard Capital, these results point to a potentially game-changing opportunity for the company in the global tungsten supply chain.
In recent sampling efforts, reconnaissance work across Great Western’s licences produced high-grade tungsten results, with multiple selective grab samples returning over 1% WO₃ (tungsten trioxide). The highest assay hit an impressive 1.75% WO₃, significantly outperforming the 0.33% WO₃ previously recorded in the same area. This finding has energised both the company and its investors, highlighting a substantial upgrade in the area’s potential.
Shard Capital’s analyst, Sheldon Modeland, P.Geo., expressed optimism in his evaluation of the findings, stating: “We are very encouraged with the initial high-grade assay results from the reconnaissance sampling programme. With grades up to 1.75% WO₃, management is planning to fast-track further exploration including mapping, soil sampling and geophysical surveys.”
The Pine Crow and Defender mines, which once produced tungsten, now sit at the centre of Great Western’s strategic push to revive and re-evaluate old sites using modern exploration techniques. In late 2024, the company expanded its licences around these two mines to strengthen its operational footprint in the region. The area spanning 1.2km between the Pine Crow and Defender workings is now being closely examined, with an eye towards leveraging advanced methods to uncover what previous generations of miners may have missed.
A Strategic Discovery in a Critical Mineral Market
This breakthrough comes at a pivotal time in the global tungsten market. Tungsten is classified as a critical mineral due to its importance in industrial applications and defence, but the supply is overwhelmingly dominated by China, which controls 80% of global production and 97% of processing. With no domestic production currently in the United States, the strategic value of Great Western’s findings is difficult to overstate.
The tungsten market itself is heating up. The spot price for ammonium paratungstate (APT), the industry-standard intermediate product used in tungsten metal production, has recently surged to a 12-year high of around $400 per metric tonne unit (mtu). This spike, largely driven by China’s restrictions on critical mineral exports, signals a reshuffling of supply priorities on a global scale.
In this context, Great Western’s project assumes added relevance. As Modeland explains, “The role of tungsten as a critical mineral for industries and a key military metal is prompting a major restocking of supplies and resourcing of non-Chinese supply lines. As such, we expect prices to be well supported at current levels and non-Chinese producers and developers to gather further attention from end users looking to diversify current supply chains.”
Financial and Operational Context
Great Western Mining remains in the exploration phase, with a diversified portfolio that includes copper, silver, gold, and tungsten assets spread across Nevada. The company’s broader projects include names like Black Mountain, Eastside Mine, Huntoon, and Olympic Gold, among others. The Black Mountain project has already been delineated with a copper Indicated and Inferred Mineral Resource under JORC guidelines, demonstrating the company’s technical competency and geological insight.
From a financial standpoint, Great Western is lean but focused. The company’s shares are trading at 1.0p, near its 12-month low, which contrasts with a high of 10.3p in the same period. With a market capitalisation of just £0.5 million and a 93% free float, any successful progress on the tungsten front could represent significant upside for current and future investors.
Highlights of the Tungsten Programme
- High-grade assay results: Selective samples returned up to 1.75% WO₃.
- Reopened past-producing mines: Pine Crow and Defender sites revisited with modern tools.
- Strategic location: Nevada-based site with historical tungsten production and proximity to known deposits.
- Tungsten market tailwinds: APT prices at a 12-year high due to geopolitical and supply chain factors.
- Fast-tracked exploration: Plans for follow-up mapping, soil sampling, and geophysical surveys.
In Summary
Great Western Mining’s latest sampling results have placed the company in a strong position to benefit from the global push for diversified and secure supply lines for critical minerals. With impressive grades of tungsten and the strategic advantage of operating within the United States, Great Western is well-poised to turn historic mine sites into valuable modern resources.
Analyst Sheldon Modeland’s enthusiasm reflects the broader mood among observers: these are early days, but the indicators are undeniably promising. As the company prepares for its next phase of exploration, investors and industry watchers alike will be paying close attention.
