Allied Critical Metals Discovers Tungsten in Portugal
Analysis based on 7 articles · First reported Apr 07, 2026 · Last updated Apr 07, 2026
The discovery of significant tungsten mineralization by Critical Metals is expected to positively impact the company's stock price and market valuation, as it expands its resource base and extends the mine life of the Borralha Tungsten Project. This event also highlights the potential for increased supply of Tungsten from Western sources, which could have broader implications for global critical raw material markets, particularly for the European Union and NATO-aligned supply chains.
Critical Metals announced a significant discovery of over 200 metres of breccia-hosted tungsten mineralization at its newly defined Venise Breccia target within the Borralha Tungsten Project in northern Portugal. This discovery is approximately 400 metres from the Santa Helena Breccia deposit, which forms the basis of the company's Preliminary Economic Assessment (PEA). The mineralization includes visible wolframite, molybdenite, and chalcopyrite, indicating a potentially extensive polymetallic system. CEO Roy Bonnell stated that these results bode well for the company's 20,000-metre drill program, aiming to expand mineral resources, extend mine life, and optimize project scale. The Borralha Project is considered a world-class tungsten deposit and is strategically important for European Union and NATO-aligned supply chains, as Tungsten is a critical raw material with a significant portion of global supply currently coming from China, Russia, and North Korea. The Venise Breccia is not yet included in the current mineral resource estimate or PEA mine plan, and further drilling and analysis are required to confirm the scale and continuity of mineralization.
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