Rackla Metals: Twinning Historic Holes to Validate a Major Tungsten Deposit in NWT
CEO.CA Aug 31, 2026 6:32
Summary
Rackla Metals' first five drill holes at the Lentung tungsten project cut the historic zone exactly where expected, pointing to broader mineralization ahead.
CEO Simon Ridgway says re-drilling about 20% of historic holes with matching intercepts could anchor a maiden compliant resource estimate.
Union Carbide's historic estimate used a high cut-off (the minimum grade counted); lowering it should widen zones and trade some grade for tonnage.
Scheelite (a tungsten ore mineral) tracks pyrrhotite, so magnetic anomalies along the 15-kilometre belt flag untested step-out drill targets.
Tungsten's nine- to tenfold price rise in 18 months revived a deposit idle for 45 years; first drill results are about three weeks away.
Mr. Simon T. P. Ridgway's takeaways
- Top takeaway Argues the drill program is validating the historic model: the first five holes cut the expected zone and the core looks like it will repeat the same zones, likely broader than reported.
- Believes matching the historic intercepts on about 20% of the central-zone holes will be enough to confidently re-establish the resource using the new core plus the old data.
- Sees clear room to expand the deposit beyond the historic resource: follow-up on scout holes along the 15-kilometer belt, large magnetic anomalies along strike, and three largely unexplored intrusive bodies.
- Contends the market is undervaluing a project that sat unattended for about 45 years, with tungsten prices up roughly 9-10x in the year and a half before August 2026 after decades of lows.
- Describes himself as a prospector since the late 1980s in the Yukon who financed his first company around 1991, mostly in gold and silver, making this his first move outside precious metals.