Flagship tables huge Thai tungsten target

Flagship Minerals managing director Paul Lock said: “Khao Soon provides Flagship’s shareholders with meaningful exposure to an advanced and strategically positioned tungsten exploration asset in a price environment which suggests that securing such a strategic industrial input is difficult – to say the least – and therefore assets such as Khao Soon are becoming increasingly valuable.”

Flagship says its core copper and gold interest remains in North and South America, with the company recently swooping on its Whipsaw copper project in British Columbia for just A$6.5 million. The pick-up has landed Flagship a foothold in the newly invigorated mining province, where historical drilling has already pointed to large-scale copper porphyry potential in a historic address.

Whipsaw sits just 17 kilometres from Hudbay Minerals’ massive 345-million-tonne Copper Mountain copper and gold mine and Flagship believes a copper-focused spin-out could put the project under a serious market spotlight of its own.

Any capital unlocked from Khao Soon could also turbocharge exploration across Flagship’s Isidora gold project in Chile, where satellite imagery is already hinting at substantial scope to expand the deposit beyond its existing 2.1-million-ounce gold footprint.

With tungsten already proven across multiple zones and a sizeable exploration target now putting a scale around Khao Soon, Flagship has some interesting options on the table. If a buyer, strategic partner or spin-out can crystallise that value, the Thai asset could yet provide the financial ammunition to fire up the company’s gold and copper push elsewhere.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au