# BN Strategic Metals Reports Update to S-K 1300 Technical Report for Atolia Tungsten Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/bn-strategic-metals-reports-update-to-s-k-1300-technical-report-for-atolia-tungs--c3393f67-56e6-4f5e-8c36-aa93ba672ee9 Original source: https://www.accessnewswire.com/newsroom/en/metals-and-mining/bn-strategic-metals-reports-update-to-s-k-1300-technical-report-for-atolia-tungst-1218239 Publisher: accesswire Original announcement: 2026-09-15T17:45:57.802Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: BN Strategic Metals Corp. - Ticker: Unavailable - Exchange: Unavailable - Region: California - Primary commodity: Tungsten - Secondary commodities: Gold - Document categories: Resource update, Other - Extracted: 2026-09-15 17:47:43 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary BN Strategic Metals has updated its S-K 1300 Technical Report for the Atolia Tungsten Project, reporting approximately 40.4 million pounds of contained WO3 and 97,000 ounces of gold. The update includes a Preliminary Economic Assessment \(PEA\) showing a pre-tax NPV of $1.475 billion and outlines a strategy for a vertically integrated U.S. tungsten supply chain including an APT refinery. Reasoning: The update provides a significant increase in technical confidence via an S-K 1300 report and outlines a highly lucrative integrated processing strategy. - Positive factor: Significant contained tungsten \(40.4M lbs WO3\) - Positive factor: Strong project economics \(NPV $1.475B, IRR 201%\) - Positive factor: Integrated supply chain strategy \(APT refinery\) - Positive factor: Gold credits included - Negative factor: Resource is 85% Inferred - Negative factor: PEA is preliminary and includes speculative Inferred resources Facts used in scoring: 4 ## Classification and evidence **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: The report outlines an updated technical report and MRE, establishing a new baseline for the project's S-K 1300 status. Evidence · text > announced updates to the S-K 1300 Technical Report **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Qualified persons are explicitly named as supervising the MRE and PEA. Evidence · text > prepared under the supervision of qualified persons identified in the report, including Sam J. Shoemaker, Jr. ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/bn-strategic-metals-reports-update-to-s-k-1300-technical-report-for-atolia-tungs--c3393f67-56e6-4f5e-8c36-aa93ba672ee9#fact-resource-facts-0) Atolia Tungsten Project · tungsten #### Identity - Project: Atolia Tungsten Project - Commodity: tungsten - Region: california - Reported Region: California #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - Reporting standards: other - QP Signed: Yes - Qualified person names: Sam J. Shoemaker, Jr., Chris L. Boyer, Jody Kelso, Catherine A. Joyner - Resource group id: resource:017a86126fe036a409f5 - Deposit or zone: Atolia - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 2653700 - Contained Metal: 5.85 - Contained Unit: million pounds #### Prior Estimate - Resource Date: 2026-08-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-15T00:00:00.000Z Reasoning: Indicated resource component provides a solid base for economic evaluation. - Positive factor: Indicated category provides geological confidence Evidence · text > consisting of approximately 5.85 million pounds of Indicated Resources and 34.57 million pounds of Inferred Resources #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/bn-strategic-metals-reports-update-to-s-k-1300-technical-report-for-atolia-tungs--c3393f67-56e6-4f5e-8c36-aa93ba672ee9#fact-resource-facts-1) Atolia Tungsten Project · tungsten #### Identity - Project: Atolia Tungsten Project - Commodity: tungsten - Region: california - Reported Region: California #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - Reporting standards: other - QP Signed: Yes - Qualified person names: Sam J. Shoemaker, Jr., Chris L. Boyer, Jody Kelso, Catherine A. Joyner - Resource group id: resource:46a607fbda4ede85b9d0 - Deposit or zone: Atolia - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 15681000 - Contained Metal: 34.57 - Contained Unit: million pounds #### Prior Estimate - Resource Date: 2026-08-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-15T00:00:00.000Z Reasoning: High tonnage but low geological confidence due to inferred classification. - Positive factor: Large volume of inferred material - Negative factor: Inferred resources are speculative Evidence · text > 34.57 million pounds of Inferred Resources #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/bn-strategic-metals-reports-update-to-s-k-1300-technical-report-for-atolia-tungs--c3393f67-56e6-4f5e-8c36-aa93ba672ee9#fact-resource-facts-2) Atolia Tungsten Project · gold #### Identity - Project: Atolia Tungsten Project - Commodity: gold - Region: california - Reported Region: California #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - Reporting standards: other - QP Signed: Yes - Qualified person names: Sam J. Shoemaker, Jr., Chris L. Boyer, Jody Kelso, Catherine A. Joyner - Resource group id: resource:da15e4a403dbeff13798 - Deposit or zone: Atolia - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Contained Metal: 15000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-08-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-15T00:00:00.000Z Reasoning: Gold acts as a significant byproduct credit. - Positive factor: Valuable gold credits Evidence · text > Approximately 15,000 ounces of Indicated gold #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/bn-strategic-metals-reports-update-to-s-k-1300-technical-report-for-atolia-tungs--c3393f67-56e6-4f5e-8c36-aa93ba672ee9#fact-resource-facts-3) Atolia Tungsten Project · gold #### Identity - Project: Atolia Tungsten Project - Commodity: gold - Region: california - Reported Region: California #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - Reporting standards: other - QP Signed: Yes - Qualified person names: Sam J. Shoemaker, Jr., Chris L. Boyer, Jody Kelso, Catherine A. Joyner - Resource group id: resource:090f11b4261b0e092bb8 - Deposit or zone: Atolia - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Contained Metal: 82000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-08-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-15T00:00:00.000Z Reasoning: Large gold component but limited geological confidence. - Positive factor: Significant gold byproduct potential - Negative factor: Speculative nature of inferred gold Evidence · text > 82,000 ounces of Inferred gold #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.