Perpetua Resources Gets U.S. Army Contract for Tungsten Exploration
By Stephen Nakrosis
Perpetua Resources said it received a 36-month, $40 million award from the Army to evaluate the feasibility of producing tungsten concentrate at the Stibnite Mining District in Idaho.
The district, located in central Idaho, has been mined for gold, silver and tungsten, as well as stibnite and antimony. The district supplied tungsten and antimony used by the U.S. during World War II. There has been no commercial tungsten mining in the U.S. since 2015, Perpetua said.
The deal is structured as a cost share program between Perpetua and the U.S. government. Funds will be used to support drilling to define a potential tungsten mineral resource, collect material for testing, and permitting and engineering of an exploration decline to access areas of known tungsten mineralization. The initial 18-month phase of the project is expected to cost about $18 million, with the company and the Army equally sharing the cost.
Perpetua said recent drilling at Stibnite identified high-grade zones of antimony and tungsten mineralization.
The company also said it will continue with ongoing exploration activities underneath the currently permitted Hangar Flats pit, which contains about 1.37 million ounces of gold resources and over 95 million pounds of antimony resources.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 26, 2026 18:37 ET (22:37 GMT)
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