Ima tungsten resource in Idaho: project economics and restart lens for engineers
Reviewed by Tom Sullivan
First reported on MINING.com
30 Second Briefing
An initial mineral resource at American Tungsten’s Ima project in northeast Idaho defines 316,000 indicated tonnes at 0.55% WO₃ (1,747 tonnes WO₃) plus 404,000 oz silver, and 2.1 million inferred tonnes at 0.55% WO₃ containing 11,933 tonnes WO₃ and 1.8 million oz silver, making it Idaho’s highest-grade primary tungsten project. The estimate also includes 267,000 tonnes of historical surface tailings at 0.15% WO₃ (413 tonnes WO₃), supporting a Phase I tailings processing route alongside Phase II underground drilling, rehabilitation and restart planning. Based on 5,180 metres of recent drilling and historical data, the resource underpins work towards a preliminary economic assessment and positions Ima as a potential U.S. tungsten supply source amid Chinese export controls.
Technical Brief
- Resource model incorporates >5,180 m of drilling completed since December plus historical underground data.
- Phase I workstream centres on metallurgical testing, permitting and detailed evaluation of 267,000 t surface tailings.
- Phase II focuses on underground drilling, rehabilitation of historic workings and engineering for potential restart.
- Historic Ima mine output totalled ~722,400 short tons, producing tungsten and silver–copper concentrates pre-1958 closure.
- Surface and underground drilling campaigns now target conversion of inferred tonnes to indicated/Measured for PEA support.
- Ima is one of very few Idaho projects currently disclosing a quantified tungsten resource inventory.
- Company valuation sits around C$111 million at C$1.67/share, within a 12‑month C$1.27–C$2.51 range.
- Chinese tungsten export controls and absence of active U.S. tungsten mines frame Ima as a strategic domestic supply option.
Our Take
American Tungsten’s Ima project is one of only a handful of tungsten-focused entries in our 1303 Mining stories, signalling that Idaho is emerging as a notable US tungsten cluster alongside Perpetua Resources’ gold‑tungsten work at Stibnite reported on 6 August 2026.
The 0.15% WO₃ grade in 413 tonnes of surface tailings at the Ima mine suggests a relatively low‑capex opportunity for early cash flow or pilot-scale recovery, which can be attractive for a C$111 million market-cap junior trying to de‑risk a restart case.
With American Tungsten already featuring in follow‑up underground drilling coverage from February 2026, the consistent presence of tungsten, silver and copper in our database entries for the company points to a polymetallic narrative that could appeal to US critical minerals and defence‑supply initiatives rather than pure tungsten offtake alone.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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