Perpetua Resources Awarded Up to $40 Million in U.S. Army Funding to Advance Domestic Tungsten Supply for American Defense
Perpetua Resources won a 36-month, $40 million award through the U.S. Army's Defense Ordnance Technology Consortium to evaluate tungsten production feasibility at the Stibnite Mining District in Idaho. The cost-share program funds drilling, metallurgical test work, and permitting of an exploration decline into Hangar Flats, where Perpetua has identified high-grade tungsten-antimony mineralization plus 1.37 million ounces of gold and 95 million pounds of antimony not currently in reserves. The award lifts total U.S.
Key figures
- Deal Value Usd
- 40000000
- Warrants amended
- 1607802
- Initial phase cost
- 18000000
- Warrant new expiry
- April 28, 2027
- Program duration months
- 36
- Gold resources hangar flats
- 1.37 million ounces
- Total usg awards since 2022
- 126000000
- Initial phase duration months
- 18
- Antimony resources hangar flats
- 95 million pounds
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