Up to $40 million Army award advances domestic tungsten work at Stibnite

Perpetua Resources announced a new 36-month U.S. Army award of up to $40 million to evaluate domestic tungsten production potential at Idaho's Stibnite mining district.

The cost-share program was awarded through the Army's Defense Ordnance Technology Consortium. It covers tungsten-resource drilling, metallurgical test work, and permitting and engineering for a possible exploration decline into the Hangar Flats mineralized zone. The initial 18-month phase is budgeted at about $18 million, split equally between Perpetua and the Army; later phases require separate approval and funding.

Headline metrics

Award ceiling	Up to $40 million
Program duration	36 months
Initial phase	$18 million cost share

Highlights

Domestic mineralThe program evaluates tungsten concentrate production at the historic Stibnite district in Idaho.
Technical workSurface drilling, laboratory and bench-scale metallurgical testing, and design and permitting for a possible exploration decline.
Cost sharePerpetua will match the Army contribution; the initial phase is expected to cost about $18 million split equally.
Funding caveatOnly the first phase is committed; each later phase requires incremental approval.

Resources

Perpetua Resources company releaseperpetuaresources.com