The playbook — tungsten · September 17, 2026
GoldHaven points to a US$450M tungsten deal it has no part in
The company drilled 800 metres at its Magno tungsten skarn in BC. Assays are pending. The headline event belongs to someone else.
On September 17, 2026, GoldHaven Resources put out a release headlined around a US$450 million U.S. government investment to secure the tungsten supply chain. Tungsten is the ultra-hard metal used in drill bits, armor and cutting tools, and Washington wants more of it made outside China. Here is the catch, stated in GoldHaven’s own release: the money is going to a third party called The Elmet Group. GoldHaven is not a recipient and says it has no relationship with The Elmet Group. So the news hook belongs to someone else entirely.
What GoldHaven actually has is a drill program at its Magno Project in the Cassiar District of northern British Columbia, at a tungsten skarn target called Kuhn. A skarn is a zone where hot fluids from a buried intrusion cook nearby rock and drop metals into it. The company has drilled more than 800 metres and logged a visual observation of roughly 20 metres of skarn. That is the whole new fact base. Every grade number in the release — a historical estimate of 616,500 tonnes at 0.48% tungsten trioxide, and past intercepts of 13.0 metres at 0.55% and 11.3 metres at 0.59% — pre-dates modern NI 43-101 rules. GoldHaven states plainly it is not treating these as a current resource. For skarn tungsten, 0.48 to 0.59% is a respectable grade, but respectable-if-true is not the same as verified. The stock rose about 28% over three months while the base-metals peer index fell 7.1% — a roughly 35-point spread that reads as company-specific attention, not a sector tide.
Now the honest part. There are no new assays here. Every one of GoldHaven’s own drill results is pending; the lab has not spoken. True width is not stated — the intervals are core lengths, and no one has said how the drill hit the zone, so the real thickness is unknown. No cut-off grade, no assay method, no lab named. The release says drilling targets the ‘continuity and potential extensions’ of the historical skarn, but it gives no downhole depths and no step-out distances, so the release does not state how far any zone was extended. The Qualified Person, Raymond Wladichuk, is disclosed as non-independent — a consultant to the company. Watch for the lab assays from those 800-plus metres, then continued drilling across the planned fences, then the D Zone and broader Magno targets. Until the assays land, everything above is history and a headline that isn’t theirs.