Scott Casselman of Rackla Metals Inc. presents at Metals Investor Forum in Vancouver | Sep 2026
Metals Investor Forum Sep 25, 2026 11:41
Summary
Tungsten prices have risen roughly tenfold in a year while China supplies about 80% of the metal and North America mines none.
Rackla staked the long-dormant Lantung project in the Northwest Territories, where Union Carbide outlined a high-grade open-pit resource in the late 1970s.
A pilot magnetic survey has outlined untested targets, and a property-wide airborne magnetic and radiometric survey is now underway.
A National Instrument 43-101 resource (Canada's formal mineral estimate standard) is planned for Q2 2027, with 4,000-5,000 metres drilled this season.
The past-producing Cantung mine 55 kilometres south keeps its mill and infrastructure intact, offering possible ore-feed synergies under discussions with the receiver.
Key points on Fireweed Metals
- Fireweed Metals owns the Mactung project about 110 kilometres north of Rackla's ground, which the speaker describes as one of the largest and most significant tungsten deposits.
Mr. Scott Casselman's takeaways
- Top takeaway Casselman argues tungsten's roughly tenfold price rise in a year meets a market where China supplies about 80% of the world's tungsten and North America currently produces none.
- His thesis is that the historically outlined high-grade resource at Lantung, untouched for 44 years, can be confirmed by twinning drill holes and modernized into a 43-101 estimate by Q2 2027.
- He contends the district validates the address: the same geological terrain hosts Fireweed's Mactung project and the past-producing, high-grade Cantung mine.
- He frames Cantung's intact infrastructure and receiver discussions as optionality, noting its last production year delivered 227,000 MTUs of tungsten oxide worth about half a billion dollars at 2025 prices.
- He points to untested magnetic highs beyond the drilled zones as the path to move Lantung from high-grade, small-tonnage to high-grade, high-tonnage.