NEW YORK, NY--(Marketwired - Mar 18, 2014) - Tungsten Corp. (OTCQB: TUNG) ("Tungsten Corp." or the "Company"), an exploration stage company focused on the evaluation, acquisition and development of domestic tungsten mining opportunities, is pleased to announce that based on results of stream sediment, soil and rock sampling completed by Carlin Trend Mining Services Ltd. of Elko, NV, in June of this year, the Company has elected to commence staking claims to protect new areas identified as offering high potential for commercial grade and size deposits of tungsten mineralization.
The elevated concentrations of tungsten are on open ground adjacent to, and in many instances contiguous with the Company's Claim Block at the Cherry Creek Tungsten Project in Nevada.
The identified areas are now subject to additional sampling planned as the next phase of field work scheduled to commence shortly. Plans include a detailed prospect up-stream to identify the source of the tungsten principally where results returned concentrations above the 5 ppm economic threshold. Target locations are focused on the eastern flank of the Claim Block including:
- The eastern and western slopes of the Pinenut Canyon, in the southwest quadrant of the Claim Block, in areas with no known tungsten prospects or old mines, which returned results ranging from 9.0 to 11.8 ppm tungsten.
- A large basin in the east central section of the Claim Block, west and up-slope from a known source, but with no previously documented tungsten mineralization, and which returned a result of 7.1 ppm tungsten.
Company President Guy Martin comments, "Based on our previous survey results, the company is confident that with an aggressive, but realistic approach, the fall exploration work will significantly upgrade our data base to the point where we can rapidly move toward drill target generation. Upon conclusion of the staking program, we anticipate mobilizing a team as early as next week to commence the detailed fieldwork required to finalize our plans, acquire permits, and commence drilling and evaluating these potentially extensive tungsten deposits."
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. Further information is available at www.tungsten-corp.com.
About Tungsten Corp. (OTCQB: TUNG)
Tungsten Corp. is a publicly traded exploration stage resource company focused on the exploration and development of tungsten deposits within the United States. Significant upturns in the value of tungsten over the past decade combined with increasingly restrictive practices from overseas producers have created an opportunity for renewed interest in domestic production for the first time in over 50 years. The Company aims to position itself as a leader in the proliferation of this emerging sector through the application of geological, geophysical and engineering expertise combined with skilled leadership in the areas of prudent financial and business development. For more information visit: www.tungsten-corp.com.
Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, references to options, historic production and activities, mineral grades and the development, costs and results of current or future actions and opportunities in the sector. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.