Iris Metals commences 7,000m US tungsten exploration

• Iris Metals has commenced Phase 1 exploration activities at the Finley Basin Tungsten Project in Montana.
• The company's share price increased by 10% following the operational update.
• The exploration campaign aims to validate and expand historical tungsten mineralisation areas.

Iris Metals (ASX:IR1) has commenced exploration at the Finley Basin Tungsten Project, planning 7,000m of diamond drilling.

This campaign follows a comprehensive data review of historical tungsten exploration work conducted by Union Carbide Corporation.

"Commencing field activities at Finley Basin is significant as we advance the project from highly prospective historical exploration into a modern drilling campaign, with the ultimate objective of securing a strategic role in North America’s critical minerals supply chain," said Iris Metals Chairman Chris Evans.

The company stated that the 16-hole programme requires permits expected in the third quarter of 2026.

Following the announcement, the Iris Metals share price was up at $0.066.

The project expands the critical minerals portfolio of the company beyond its established lithium assets in South Dakota.

The asset choice provides the business with direct exposure to tungsten supply chains for aerospace and defence applications.