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Marquee Resources Limited (ASX:MQR)

ALERT: Price-sensitive ASX Announcement for MQR
Current share price for MQR : $0.005 0 (0%)+
Announcement
Release
23 Jun 2026 10:26AM
Price at Release
$0.005
Full Release
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Summary
Marquee Resources Limited announced the acquisition of the Tungsten Mountain Property in Nevada, USA, a historical tungsten mine with significant potential. The acquisition, which includes six mining claims, aims to enhance Marquee's critical minerals portfolio. The property boasts a historical production record and resource estimates indicating substantial tungsten reserves. The system is considered open and promising for further exploration. Marquee plans to raise capital to fund the acquisition and a detailed exploration program, including drilling and geological mapping, to advance the project towards a modern JORC-compliant resource pathway.
Key Points
  • Marquee Resources Ltd has entered into a binding agreement to acquire 100% of the Tungsten Mountain Property in Churchill County, Nevada, USA.
  • The acquisition includes six unpatented lode mining claims covering the historic Tungsten Mountain Mine.
  • The mine has historical production of 6,978 dry tons averaging 1.16% WO3.
  • Historical Resource Estimate indicates 250,000 tons averaging 1.0% WO3.
  • Exceptional historical grades were reported, with very high-grade tungsten up to 7% WO3.
  • The system remains open along strike, near surface, at depth, and in parallel structures.
  • The company plans a capital raise of up to approximately A$3,205,146.50 to fund acquisition and exploration.
  • A phased exploration program is planned, including geological mapping, sampling, and drilling.
  • Engagement of US-based consultants to advance a JORC-compliant resource definition program.
  • The project is strategically located in a Tier-1 US jurisdiction with historical data indicating significant exploration potential.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.