IRIS Metals Signs Farm-In Agreement for 100% Stake in Finley Basin Tungsten Project, Montana
IRIS Metals Limited has executed a definitive farm-in agreement with Finley Mining Inc. to earn up to a 100% stake in the Finley Basin Tungsten Project in Montana. This follows a Heads of Agreement from December 2025. The project covers 378 hectares and has a historical mineral reserve estimate of 850,000 tons at 0.68% WO3. IRIS plans to start a Phase I drill program in Q3 2026, aiming for a JORC-compliant resource estimate by early 2027.
Theia Market Signal Identification - AI Assisted
IRIS Metals Limited has entered into a definitive farm-in agreement with Finley Mining Inc. for a potential 100% ownership of the Finley Basin Tungsten Project in Granite County, Montana. The project spans 378 hectares and contains a historical non-JORC compliant reserve estimate of 850,000 tons at 0.68% WO3.
With plans for a Phase I drill program starting in Q3 2026, IRIS aims to define a JORC-compliant resource by early 2027. The agreement allows IRIS to earn 70% ownership by investing US$1 million in exploration over two years, with an option for an additional 20% interest for another US$1 million. IRIS may withdraw after a minimum expenditure of USD$250,000.
Comments