Tungsten Mining NL has commenced major reverse circulation and diamond drilling programs at its 100%-owned Watershed Project in Queensland, following strong Preliminary Economic Evaluation outcomes released in June 2026.

The program comprises 175 reverse circulation holes spanning 15,000 metres on a 20-metre by 20-metre pattern across known high-grade mineralisation targeted for initial mining. A concurrent diamond drilling campaign consisting of 75 holes for approximately 5,700 metres will collect representative metallurgical samples and geotechnical data to support detailed engineering, process design, and pit configuration.

“The RC drilling is concentrated within areas of known high-grade mineralisation targeted for initial mining and is designed to provide greater confidence and definition for resource modelling and mine planning. At the same time, the diamond program will provide the metallurgical samples and geotechnical information required to refine process design, pit design and detailed engineering.”

— Gary Lyons, Chairman

Watershed is located approximately 130 km north of Cairns on granted Mining Leases with an existing Environmental Authority for open-pit development. Former project owner Vital Metals Limited completed a definitive feasibility study for the project in 2014 before Tungsten Mining acquired the asset in August 2018.

Nearby tungsten producer Eq Resources completed a transaction on 10 July 2026 to expand its Mt Carbine project tenure by 45% to 1,136 km2 in the surrounding district.

Initial drilling results from the Watershed campaign are expected from October 2026, with the company targeting a Final Investment Decision for the project in September 2026.

Read the full announcement: Major Drilling Program to Advance Watershed Project