08:26 AM EDT, 03/12/2025 (MT Newswires) -- American Tungsten ( DEMRF ) said Wednesday that it plans to launch drilling on a principal tungsten exploration target on the IMA mine in Idaho.

The company said it identified the target by compiling historical drilling and underground sampling as well as historical mineral reserves.

"Mineralization on and above the D level is our current focus area," CEO Murray Nye said. "Existing access and historical drilling demonstrating geological continuity of the system make this area the obvious target for in-fill drilling and mineral resource delineation."

American Tungsten ( DEMRF ) also said overnight Thursday that it received a request from OTC Markets Group to issue a statement regarding recent promotional activity concerning its common shares.

American Tungsten ( DEMRF ) said OTC Markets became aware of certain promotional activities concerning the company, including the distribution of digital marketing materials by Emerging Markets Consulting (EMC), which was engaged by the company to provide investor relations and public awareness services.

The company said that while certain promotional activities coincided with an increase in trading volume of its shares, it has no opinion on whether the promotional activity was the primary cause of this increase.

Following an internal inquiry, American Tungsten ( DEMRF ) confirmed that no directors, officers, and control persons, or any third-party service providers were involved in the distribution or payment for the promotional materials beyond the engagement of EMC.

"American Tungsten ( DEMRF ) remains committed to transparency, responsible investor communication, and regulatory compliance," the company said. "The company encourages investors to rely only on official press releases, regulatory filings, and information published on the company's website for accurate and up-to-date details about its business operations."

American Tungsten's ( DEMRF ) share price fell 10% on Tuesday to $0.78 on the CSE.