Demesne Resources (CSE: DEME; US-OTC: DEMRF) is looking to revive the past-producing IMA tungsten underground mine in east-central Idaho with potential backing from the United States’ Department of Defense.
CEO Murray Nye says the mine, which it optioned from a company based in Montana, started off as a silver producer in the 1890s before the critical mineral tungsten was discovered and produced there from 1945 until 1958. Tungsten is used in electronics and military applications, but its availability is limited after China restricted exports last year.
“There are currently no tungsten producers in North America,” Nye said last month during The Northern Miner’s International Metals Symposium in London. “So, we think we’re at the right place at the right time with the right asset.”
Years after the tungsten mine closed, Inspiration Development in 1978 spent US$2 million rehabilitating the site and drilled 13 holes. That led to a historic resource outlining more than 1 million tonnes of tungsten. Nye is confident production could restart at IMA.
Watch the full chat below with The Northern Miner’s interim editor-in-chief, Colin McClelland. JV videos are paid-for content in arrangement with The Northern Miner.
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