Rackla Metals Inc. (RAK:TSX.V) released an update on March 30, 2026, on its newly acquired Lentung Tungsten Property, revealing data compilation for the area.
Rackla has spent the last year digitizing compiled historical data for its 19,600-hectare property, including documentation about surrounding drilling, assays, and technical studies of the site. The company intends to use this data to create 3-D geographical modeling and efficiently target upcoming drilling programs.
The Lentung Property was previously owned and operated by Union Carbide. The benefit of having infrastructure already in place allows for scale and upside for Rackla. The infrastructure includes ". . . 26,000 meters of drilling across 178 holes, identifying 15 tungsten occurrences over a 15-kilometer strike length." On April 5, 2026, Ahead of the Herd reported the finding of another 12 skarn units, saying, "where the intrusions encounter carbonate rocks like limestone and dolomite, there is potential for tungsten skarn mineralization." Historically, the deposits in this area, including the Cantung and Mactung deposits, have ranked among the highest-grade tungsten skarn systems in the world. Data from Union Carbide's previous files suggests a high-grade deposit with open-pit potential.
According to a Stockwatch.com article from March 30, 2026, "The historical resource estimate by Union Carbide was calculated for three of the 15 tungsten occurrences on the Lened property and ranks as one of the highest-grade tungsten skarn deposits in the world according to the United States Geological Survey ranking of tungsten skarn deposits."
Rackla Metals Inc. is a Canadian junior exploration company focused on mining rare earth, gold, and tungsten in the eastern Yukon and western Northwest Territories in Canada.
Tungsten in High Demand, Short Supply
Commodity prices have varied recently, in part due to trade tensions between the U.S. and China and the U.S.-Iran War. Tungsten's incredible strength and heat tolerance make the metal a highly valuable component of weaponry, including missiles and armor-piercing bullets. Because China is the world's largest tungsten producer, and it has stopped shipping to the U.S., a shortage has occurred in America's military assets. Almonty's CEO told CNBC on March 31, 2026, "There's no material to stockpile. That's probably the biggest change."
On March 23, Rick Mills from Ahead of the Herd wrote that, "Outside of China, which accounts for 83% of global supply, there are only a few tungsten mines, making exploration imperative. . . The end result of skyrocketing demand for tungsten, due to militaries rearming and the war in Iran, combined with limited supply, is that the metal has jumped 557% in a little over a year." Ahead of the Herd went on to write on April 5, 2026, that "Canada's only producing tungsten mine, Cantung in the Northwest Territories, closed in 2015." This gap in supply leaves room for other companies to attempt tungsten mining in North America.
Despite already doing well, tungsten prices hit a record high of over US$3,000 mid-March. "From ~US$300 per metric tonne unit (a measured equal to 10kg) in early 2025, the price ran to around US$920/mtu in early 2026. By March 20, it hit US$2650/mtu, a full US$400/mtu higher than March 13," wrote Josh Chiat of Stockhead.com on March 25. Chiat went on to comment on access to the metal: "Have a tungsten mine right now, and the investment will come."
Expert Expects Success
On March 31, 2026, Bob Moriarty of 321gold.com gave Streetwise Reports a quote on the company's current movement: "While Rackla's 2025 couldn't determine the source of the widespread gold their surface exploration program discovered, they did raise CA$10 million while investors were hurling money at good juniors. Rackla has come up with a Plan B backup with a nearby tungsten property with known values. So, one way or another, I expect the 2026 program to be successful."
Rackla Begins New Campaign
Rackla plans to initiate 10,000 meters of drilling in 2026, focusing its efforts on confirming historical resources and expanding near-surface mineralization in order to target a National Instrument 43-101 resource.
Streetwise Ownership Overview*The drill core from campaigns in the 70s and 80s remained on the property, allowing Rackla to quickly plan a recovery and resampling this summer.
The company will begin conducting archeological and environmental studies to supplement Union Carbide's historical studies.
Ownership & Share Structure1
Rackla Metals Inc. has a market cap of CA$22.81 million, with 162.95 million shares outstanding. The company has a 52-week range of CA$0.08-CA$1.00.
Institutions hold 0.23% of shares, while Management & Insiders own 28.11%. The remaining 71.66% of shares are Retail.
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- Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
