Rackla Metals Inc. (RAK:TSX.V) acquired the Lentung Tungsten Property in late 2025 and released an update on data compilation for the area on March 30, 2026.
Rackla owns 19,600 hectares in the area and has digitized and compiled historical data surrounding drilling, assays, and technical studies of the site. The company plans to use this data to create 3-D geographical modeling and efficiently target upcoming drilling programs.
The property was previously owned by Union Carbide , so infrastructure is already in place, allowing for scale and upside. The infrastructure includes ". . . 26,000 meters of drilling across 178 holes, identifying 15 tungsten occurrences over a 15-kilometer strike length." The deposits in this area, including the Cantung and Mactung deposits, rank among the highest-grade tungsten skarn systems in the world.
Data gathered from analyzing Union Carbide's files confirms a robust deposit with high-grade 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." The remaining 12 occurrences have barely been explored, and Rackla is planning an exploration to see if they could produce additional resources.
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.
A Bullish Market for Tungsten
Commodity prices have varied amid the U.S.-Iran War and trade tensions between the U.S. and China. Due to tungsten's incredible strength and heat tolerance, the metal is a highly valuable component of weaponry, including missiles and armor-piercing bullets. A shortage of tungsten has appeared in the Western world, though, as China is the world's largest tungsten producer, and it has stopped shipping to the U.S. As Almonty's CEO told CNBC on March 31, 2026, "There's no material to stockpile. That's probably the biggest change."
On March 23, 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."
Tungsten was already doing well, but the prices have skyrocketed, with the metal hitting 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 noted the high demand for alongside the difficulty of producing it, saying, "Have a tungsten mine right now, and the investment will come."
Rackla Has Its Bases Covered
On March 31, 2026, Bob Moriarty of 321gold.com gave Streetwise Reports a quote on the company: "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."
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Rackla plans to initiate 10,000 meters of drilling this year, with the focus of their efforts on confirming historical resources and expanding near-surface mineralization to target a National Instrument 43-101 resource.
The drill core from campaigns in the 70s and 80s remained on the property, leading Rackla to 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.
