Diamond V Associates discovers rare tungsten reserves in Alaska

2 July 2012 (Last Updated July 2nd, 2012 18:30)

Green Technology Solutions' (GTSO) mining subsidiary GTSO Resources has announced that its joint venture (JV) partner Diamond V Associates (DVA) has identified tungsten resources for potential excavation near Alaska’s Yukon River.

Green Technology Solutions' (GTSO) mining subsidiary GTSO Resources has announced that its joint venture (JV) partner Diamond V Associates (DVA) has identified tungsten resources for potential excavation near Alaska's Yukon River.

Tungsten, an essential material used to manufacture machinery from wind farms to smart phones, is usually found in China and fears of a global supply shortage have sparked sharp rises in the price of tungsten recently.

As a result, GTSO Resources CEO Paul Watson said DVA has wasted no time in identifying potential mining prospects.

"As the DVA team nears the end of its current project in Alaska, Kirk is already vetting promising new mining prospects throughout the state," said Bastian.

"We are excited about the prospects for our company moving forward now that we have an experienced group on the ground in DVA to vet and manage deals in Alaska's mineral-rich territories."

GTSO will provide funding and expertise for the project in exchange for Diamond V Associates' help in researching, planning and developing tungsten and other valuable minerals in Africa and America, to help ensure stable supplies of the critical metal outside of China.