Perpetua Resources secures up to $40 million in U.S. Army funding for Stibnite tungsten exploration
Bitget2026/10/26 21:46- Perpetua Resources secured up to $40 million in U.S. Army funding for a 36-month tungsten exploration program at Stibnite, Idaho.
- The company will match the Army’s contribution; the initial 18-month phase will cost approximately $18 million, split equally.
- Funding supports drilling, metallurgical testing and exploration decline planning to assess tungsten concentrate production at Hangar Flats.
- The proposed decline could access mineralization containing approximately 1.37 million ounces of gold and over 95 million pounds of antimony outside reserves.
- Subsequent funding phases require approval based on exploration, testing, engineering and permitting results.
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