The Conversation (0)
Highlights
- Maiden surface rock chip sampling program at the Hill of Leaders Project, Northern Territory, has returned multiple high-grade tungsten assays exceeding 1% WO3.
- Scheelite and wolframite tungsten mineralisation found across a broad footprint, indicating a widespread system of scale.
- Results significantly exceed typical economic cut-off grades for tungsten deposits, positioning Hill of Leaders as a compelling early-stage tungsten discovery.
- Elevated molybdenum averaging 0.026%Mo across all samples, bismuth up to 0.4% and copper assays up to 6% Cu.
- Mineralisation remains open in multiple directions, with strong potential to extend the footprint through follow-up mapping, sampling, geophysics and drilling.
- Company fast-tracking planning and preparation for maiden Reverse Circulation (RC) drilling program to test continuity and grade at depth.
- Stelar's new tungsten discovery adds to a rapidly strengthening Northern Territory tungsten province, at a time of structural global supply tightnessdriven by Chinese export restrictions and Western efforts to secure critical minerals supply chains.
- Executive Chairman Stephen Biggins brings a directly relevant track record, having led Core Lithium (ASX:CXO,OTC:CXOXF) as Managing Director for over a decade, from acquisition and discovery through permitting, financing and into production at the Finniss Lithium Project, the first lithium mine in the Northern Territory.
Executive Chairman Stephen Biggins, commented:
"These are exactly the kind of results we hoped to see from our first pass over Hill of Leaders.
Widespread tungsten mineralisation and grades above 1% WO3 tells us we are dealing with a real tungsten system of significant scale.
"I've spent a career taking NorthernTerritory critical minerals projects from acquisition to production, and I see the same hallmarks at Hill of Leaders that we saw in the early days with Core Lithium at Finniss.
"Tungsten markets are tightening globally as western nations look tosecure supply outside of China, and Stelar is well placed to move quickly and unlock the value of this discovery for shareholders."
A Significant New Tungsten Discovery
Surface rock-chip sampling completed during June 2026 has returned multiple high-grade tungsten assays exceeding 1% WO3, with scheelite and wolframite mineralisation identified across many historical workings and prospect areas throughout the project. The results provide convincing evidence that tungsten mineralisation iswidespread rather than restricted to isolated occurrences, significantly enhancing the exploration potential of the project.
A total of 18 rock-chip samples were collected during the Phase 1 program. Five samples were classified as in-situ mineralisation, three as float, with the remaining samples comprising ore crushings, mullock and other material associated with historical mine workings. The program was designed to confirm historical reports, characterise mineralisation styles and identify priority targets for systematic follow-up exploration.
Over one quarter of the samples hadvery high-grade tungsten mineralisation assaying over 0.5% W03, including two samples grading over 1% WO3. Two thirds of the samples returned tungsten grades exceeding 0.05% WO3, a commonly used cut-off grade used by many modern tungsten projects (Table 1 and Figure1*).
Although rock-chip samples are selective by nature and may not represent average grades, the consistently elevated tungsten values across multiple prospects demonstrate the presence of a robust mineralised system and provide compelling encouragement for further exploration.
Tungsten Mineralisation
Tungsten mineralisation occurs predominantly as wolframite and scheelite hosted within quartz vein systems, adjacent alteration and greisen developed within the large scale Hill of Leaders Granite system. The currently recognised area of mineralisation comprises multiple subparallel and stacked quartz veins, with somevein corridors extending over widths of approximately 200 m and around 2km in length (Figure 1*).
Scheelite (CaWO4) contains 80.5% WO3 is observed to occur dominantly in fractures in quartz veins but is also observed in lower quantities in the biotite contact zone within the host granite.
Economically, this could be important because if mineralisation persists far enough beyond the veins, it could translate to a significant mineralised lower grade halo around the higher-grade veins.
Wolframite (Fe, Mn) WO4) contains 76% WO3 and is more difficult to pick in hand specimen, however it was most noticeable in the Old Ghan and Makinsons workings where it occurred in association with malachite and chalcocite.
Close to 30 individualmine trenches have been identified to date in early mapping across the Hill of Leaders Tungsten Field with most displaying a northwest-southeast orientation, although several crosscutting structures are also present (Figure 1).
Significance of Molybdenum
Assay results from the initial sampling program indicate that molybdenum is consistently associated with tungsten mineralisation at the Hill of Leaders Project. The 18 samples returned an average assay of 0.026% Mo, with a maximum valueof 0.058% Mo (Table 1). These initial results demonstrate the potential for molybdenum to occur as a significant byproduct within the project.
Molybdenum is a recognised by-product of several tungsten deposits in Australia. For example, Tivan's(ASX:TVN) Molyhil Project, located southeast of Hill of Leaders in the NT, report a total Mineral Resource of 4.647 million tonnes at 0.26% WO3 and 0.09% Mo. Tungsten Mining (ASX:TGN) reports a total Mineral Resource at Mt Mulgine in WA of 259 Mt grading 0.11% WO3 and 0.027% Mo.
In addition to tungsten and molybdenum, bismuth assayed up to 0.4% Bi and four samples returned copper grades exceeding 0.5% Cu. A sample from the Old Ghan prospect assayed 6.64% Cu together with 0.16 g/t Au, indicating the presence of a potentially significant polymetallic mineralising system (Table 1*).
A Track Record of Delivery in the Northern Territory
Stelar Metals Executive Director Mr Stephen Biggins brings a rare and directly applicable track record to Stelar's Hill of Leaders discovery. As founding Managing Director of Core Lithium Limited (ASX:CXO,OTC:CXOXF) for over a decade, Mr Biggins led that company through the full project lifecycle at the Finniss Lithium Project in the Northern Territory, from initial acquisition and discovery, through resource definition, permitting, financing and offtake, to construction and first production as the first lithium mine in the Northern Territory and one of the highest-grade lithium resources in Australia.
Mr Biggins' experience spans the full spectrum of the exploration-to-production pathway, including capital markets, regulatory pathways, and large-scale project construction in the Northern Territory's regulatory environment. The Board believesthis experience is directly relevant to unlocking the potential of Hill of Leaders and accelerating the project through the same disciplined pathway that delivered Finniss into production.
Next Steps
The widespread distribution of tungsten,together with elevated molybdenum, copper and locally anomalous gold, indicates that Hill of Leaders hosts a significant hydrothermal mineral system with considerable exploration potential. These encouraging first-pass results provide a solid foundation for the Company's next phase of exploration at HOL.
Following these encouraging results, Stelar is fast-tracking planning follow up exploration programs, including more geological mapping and extensional surface sampling, ultra detailed geophysical surveys and a maiden reverse circulation (RC) and subsequent diamond drilling program to test the continuity, width, and grade of mineralisation at depth.
Sample assays from the Phase 2 field program are anticipated in the coming weeks.
Further updates on the timing ofthe first ever RC drill program on the Project planned to commence in a few weeks will be provided to the market in due course.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/X4LB41E6
About Stelar Metals Limited:
Stelar Metals Limited (ASX:SLB) experienced and successful exploration and development team is targeting the discovery and production of critical minerals, with increasing global demand to enable the world to achieve net zero emissions.
The Company will focus on its Hill of Leaders Tungsten Project in Northern Territory, Australia, a strategic critical minerals opportunity with scale potential, in a region where SLB key management has significant discovery and development experience.
Source:
Stelar Metals Limited
Contact:
Stephen Biggins
Executive Chair
Stelar Metals Limited
info@stelarmetals.com.au
+61 8 8372 7881
Jason Mack
Senior Communications Advisor
White Noise Communication
jason@whitenoisecomms.com
+61 400 643 799
