Stelar Metals Confirms Broad Tungsten Mineralisation at Hill of Leaders with Drilling Set for July

Broad Tungsten Mineralisation Confirmed in Initial Fieldwork

Stelar Metals (ASX:SLB) has successfully completed its Phase 1 field program at the Hill of Leaders Tungsten Project, revealing extensive tungsten mineralisation across a large area in the Northern Territory. The mineralisation occurs predominantly as wolframite and scheelite hosted within quartz vein and greisen alteration systems developed in the Hill of Leaders Granite. Multiple subparallel and stacked quartz veins form mineralised corridors extending over widths of approximately 100 metres and a strike length exceeding 2 kilometres.

During the program, 18 rock chip and grab samples were collected and dispatched for laboratory assay, with results expected in late June 2026. These assays follow previous surface rock chip samples that returned high grades including 6.1% WO₃, 2.1% WO₃, and 1.45% WO₃, underscoring the project's potential to host economically significant tungsten mineralisation.

Geological Setting and Structural Controls

The Hill of Leaders Tungsten Field is situated within a multiphase, highly fractionated granite intrusion of the Tennant Creek Supersuite. The granite hosts quartz vein systems with tungsten mineralisation, often associated with late-stage pegmatite, aplite, and mafic dykes. Structural analysis indicates that northwest-southeast trending shear zones and conjugate structures likely provided pathways for mineralising fluids, influencing the distribution of the quartz vein systems.

Historical mine workings scattered across the project area reveal steeply dipping to sub-vertical quartz veins that remain open at depth, highlighting unexplored potential below surface. The presence of greisen alteration and hydrothermal brecciation supports an intrusive-related hydrothermal model for mineralisation.

Upcoming Exploration and Drilling Plans

Stelar is on track to commence Phase 1 Reverse Circulation (RC) drilling in July 2026, targeting approximately 3,000 metres over three sections. This will be followed by around 1,000 metres of diamond drilling in the third quarter to follow up on RC results. A Phase 2 program involving further mapping, sampling, and drilling is scheduled to continue through the remainder of 2026.

Executive Chair Stephen Biggins emphasised the significance of the initial fieldwork, stating that geologists have confirmed scheelite and wolframite mineralisation in outcrop and shallow historic workings. He noted that shareholders should anticipate the first tungsten assay results later this month, ahead of the drilling campaign.

Strategic Location and Acquisition Terms

The Hill of Leaders Project covers 445 square kilometres on exploration licence EL33232 in the Tennant Creek region, approximately 80 kilometres from Tennant Creek town and well connected to Darwin Port via road and rail infrastructure. Stelar has secured a binding earn-in agreement with F&H Brothers Metals Pty Ltd to acquire 100% of the project within 12 months, positioning itself as a first mover with no prior bedrock drilling beneath the mineralised veins.

This combination of scale, geological prospectivity, and strategic location places Stelar Metals in a strong position to explore a potentially significant tungsten resource in a critical minerals hotspot.