Critical Metals(US:CRML) Thenewswire·2025-06-02 11:30Core Viewpoint - Allied Critical Metals Inc. has initiated a fully-funded exploration program for its Borralha Tungsten Project in northern Portugal, which includes up to 5,000 meters of core drilling aimed at expanding the resource base and enhancing project economics [1][2]. Company Overview - Allied Critical Metals Inc. is focused on its 100% owned Borralha and Vila Verde tungsten projects in northern Portugal, with the Borralha project being an advanced-stage brownfield site historically mined from 1904 to 1985, producing over 10,280 tonnes of high-grade wolframite concentrate [1][2][9]. - The company aims to become a leading Western supplier of tungsten, a critical metal for various industries including defense, electric vehicles, and semiconductors [10][13]. Exploration and Resource Estimates - The current NI 43-101 resources as of March 2024 indicate: - Indicated: 4.98 million tonnes at 0.22% WO₃, 762 g/t Cu, and 4.8 g/t Ag - Inferred: 7.01 million tonnes at 0.20% WO₃, 642 g/t Cu, and 4.4 g/t Ag [5]. - Recent drilling from 2023 to 2024 returned strong intercepts, including up to 10 meters at 1.75% WO₃ and multiple longer intervals averaging over 0.2% WO₃ [4]. Project Development - The Borralha project is undergoing environmental assessment to transition to full-scale mining, with current permitting allowing bulk sampling of up to 150,000 tonnes per annum [7]. - The project benefits from excellent infrastructure, being located near major cities like Braga and Porto, which provides access to roads, power, water, and skilled labor [8]. Strategic Importance - Borralha represents one of the few near-term, non-Chinese tungsten production opportunities globally, aligning with the West's increasing demand for critical raw materials amid supply chain vulnerabilities [9]. - The tungsten market is estimated to be valued at approximately U.S.$5 to $6 billion, with China and Russia currently representing about 90% of the total global supply and reserves [13].