Special Strategies May Apply to CuMo as a Sustainable Source for Tungsten, Rhenium
Contact:
Noelle Laury | 208.602.3423 | nlaury@idahocumo.com
The U.S. Department of Interior has released the updated U.S. Critical Minerals List that includes 35 minerals which are deemed essential to national defense and economy and are at risk for supply chain disruption. A Trump Executive Order signed in December 2017 mandated the update as an important driver for the Administration’s move to reduce foreign dependency on strategic and critical minerals.
Tungsten and rhenium, both present in the deposit known as the CuMo Project, met the criteria and have been posted to the list. The CuMo Project, in southwestern Idaho, is comprised of 205 claims covering an area of 6.4 square miles and is 100 percent owned and managed by Idaho CuMo Mining Corporation, a wholly-owned subsidiary of American CuMo Mining Corporation.
With only 60% of the deposit explored to date, data gathered at the CuMo Project indicates it is the largest deposit of tungsten and rhenium within the United States. An independent resource calculation has identified 196.6 million pounds of tungsten and 175.3 thousand pounds (79,487 kilograms) of rhenium as measured and indicated, and an additional 216.6 million pounds of tungsten and 177.9 thousand pounds (80,674 kilograms) of rhenium as inferred. Projections rank a fully-developed CuMo Project as potentially the largest producer in the U.S.
Tungsten has the highest melting point of all metals and is used as an alloy with other metals. Its applications include arc-welding electrodes and heating elements for high-temperature furnaces which are crucial to mining and petroleum industries. Rhenium has the second highest melting point after tungsten. It has important healthcare applications as an alloy used in X-ray machines and is critical to national defense with its use in fighter jet parts.
“Research and analysis have established the CuMo Project as the largest and arguably the most sustainable source of molybdenum which is a host mineral for rhenium, one of the rarest and most costly of minerals,” said Shaun Dykes, President and CEO of Idaho CuMo Mining Corporation. “The U.S. Critical Minerals List establishes national priorities for discovery, exploration and development of strategical minerals that are crucial to the nation’s defense and economic growth.”
With two of CuMo’s minerals identified as “critical” and molybdenum recognized as the best host for rhenium, the CuMo Project is positioned for special strategies regarding protections and permitting.
Comments accompanying the updated list state that, “The Department of the Interior recognizes that many commodities are not mined directly, but are instead recovered during the processing, smelting, or refining of a host material and are, therefore, deemed “byproducts”. Such is the case with the rhenium contained in the molybdenum at the CuMo Project.
“We are thirteen years into our exploration and development in a region that is perfect for a sustainable operation. The CuMo Project community has a strong natural resource history that has been severely compromised in recent years by over-regulation and inefficient management strategies that have not considered local economic needs and cultural sustainability,” said Dykes. “With the attention and protection of the critical minerals list, we hope to resolve all pending permitting matters for our CuMo Project and develop a sustainable and substantial source of employment and tax revenue for Boise County and Idaho.”
About CuMo Project
The CuMo Project is a scientific exploration of the largest molybdenum deposit and one of the top 25 silver deposits in the world. CuMo is located in a historic mining district in Boise County, Idaho. American CuMo Mining Corporation (CuMoCo) acquired the claims in 2004. CuMoCo established Idaho CuMo Mining Corporation (ICMC), an Idaho-based, wholly-owned subsidiary, to manage the geologic and environmental exploration that will determine the future development plan.
About Idaho CuMo Mining Corporation
Idaho CuMo Mining Corporation (ICMC) is the wholly-owned subsidiary of American CuMo Mining Corporation, a Canadian natural resource exploration and development company. ICMC is committed to conducting all exploration and development activities, present and future, in a manner that ensures a minimal impact on the environment. Every decision made by the development team is focused on designing an environmentally sound and socially responsible project. Currently, ICMC is advancing the CuMo Project in Boise County, Idaho and Calida Gold project in Lemhi County, Idaho. For more information, please visit idahocumo.com.
About American CuMo Mining Corporation
American CuMo Mining Corporation (CuMoCo) is focused on advancing its CuMo Project towards feasibility. CuMoCo is also advancing its newly-acquired Calida Gold project. Management is continuing to build an even stronger foundation from which to move the Company and its projects forward. For more information, please visit cumoco.com, idahocumo.com and cumoproject.com.