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The work was informed by recent drilling focused on shallow areas immediately below the existing pit floor as part of work to support its ongoing bankable feasibility study.
The total resource is now pegged at 9.2 million tonnes grading 0.63% tungsten, within just 60% of the previous block model area, with EQ suggesting further drilling should deliver opportunities for g growth.
While most of the resource is classed as inferred, the indicated 2.4Mt at 0.74% resources have a grade said to be five times higher than the ore mined from Mt Carbine in the 1970s and '80s.
The diamond drilling was completed as the first step of EQ's reopening plan.
The company also ran a trial ore sorting campaign on material from the low-grade ore stockpile, where there are a further 12Mt at 0.075% in indicated resources.
The ore sorter, dubbed "Big Kev", showed a tenfold increase of the low-grade crushed and sorted ore, and also generated a waste stream that can be sold as road making base and aggregate material.
All up, using an ammonium paratungstate price of US$310 per metric tonne unit, Mt Carbine contains 6.7mtu of metal. Each mtu is equal 10kg.
CEO Kevin MacNeill said the work to date had changed how EQ was looking at approaching mining of Mt Carbine, which remains one of Australia's only operating primary tungsten mine.
Its definition of 2-12m wide high-grade lenses means it can reduce barren rock reporting to the gravity plant and deliver vastly improved economics.
"Very few tungsten mines achieve such high mineable grades. With these high grades we anticipate most of the indicated resources will make their way into reserves," he said.
Further drilling is planned at Andy White, and to convert inferred resources at the Iron Duke extension.
The BFS and maiden reserves are expected to be completed in November, with plans for a 1Mtpa operation to ramp up in the second half of 2022.
The company recently raised A$6 million by issuing notes that can convert at 6.5c.
The stock has traded between 2.4-6.9c over the past year, and closed yesterday at 6.5c, valuing the company at $85 million.
