- Tungsten Eagle Development (CSE:MAGA) went public on the Canadian Securities Exchange on Wednesday, following a name change from Patriot Resources and a concurrent C$5 million financing.
- The company’s flagship project resides in a region with more than a half century history of tungsten exploration.
- Tungsten Eagle stock last traded at C$0.68 with 58.1 million shares issued and outstanding.
Tungsten Eagle Development (CSE:MAGA) went public on the Canadian Securities Exchange on Wednesday, following a name change from Patriot Resources and a concurrent C$5 million financing.
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Tungsten Eagle’s flagship Liberty Ridge property, located 100 miles northeast of Elko, Nevada, encompasses 269 unpatented Bureau of Land Management (BLM) lode mining claims spanning 2,166 hectares, including the site of the historical Mitchell silver mine. A technical report on the property, effective June 24, 2026, is available through the company’s profile on SEDAR.
The junior miner intends to unlock value by leveraging its target commodity’s recently surging price, propelled by its critical roles in the defense, aerospace and manufacturing industries, coupled with the project’s history of tungsten exploration dating back to the 1950s, including programs by Union Carbide, Placer Amex, Utah International and Galway Resources documenting the presence of a tungsten-bearing intrusive system characteristic of the district, numerous molybdenum and silver occurrences, as well as an arsenic anomaly potentially tied to an epithermal mineral system.
“Tungsten is designated a critical mineral by the US Geological Survey and is essential to defense and advanced-manufacturing supply chains, including munitions, aerospace, semiconductors and carbide tooling,” Stuart Schady, the CSE’s Vice President, Business Development, said in Thursday’s news release. “With approximately 80% of world tungsten supply currently coming from China, the CSE is particularly pleased to welcome a prospective North American producer to the exchange.”
Tungsten Eagle recently completed a phase-1 exploration program of 2,171 rock and soil samples, confirming the presence of anomalous tungsten and related elements across the property. A 27-hole drill permit from the BLM is in hand to test high-priority targets as a phase-2 sampling and mapping gets underway.
“We are excited to have achieved this important milestone for Tungsten Eagle,” added Fiona Keating, Chief Executive Officer of Tungsten Eagle Development. “Now the real work begins and we are hitting the ground running. With historical drill intercepts and mineralized outcrops confirming the presence of tungsten on our property, our initial objective is to comprehensively determine its full extent.”
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