The project operates as a cost-sharing agreement, with the first 18-month phase requiring an $18 million investment split equally between the government and the company. Funds are earmarked for exploratory drilling, material testing, and the engineering of a decline to reach deeper mineral deposits. Historically, the Stibnite site served as a vital domestic source for tungsten and antimony during World War II.
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Perpetua Resources Secures $40 Million Army Grant for Tungsten Search
The U.S. Army has awarded Perpetua Resources a $40 million, 36-month contract to determine if the Stibnite Mining District in central Idaho can once again yield commercial-grade tungsten. This initiative aims to revive domestic production of a metal that has not been mined commercially within the United States since 2015.
Perpetua reports that recent drilling campaigns have already uncovered high-grade zones of mineralization at the site. Beyond the tungsten efforts, the firm remains focused on its existing operations beneath the Hangar Flats pit, a deposit currently estimated to contain 1.37 million ounces of gold and over 95 million pounds of antimony.
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