Pegmatite One Lithium and Gold Corp. has secured 100% ownership of the Golden Scheelite Project in Humboldt County, Nevada, following confirmation from the U.S. Bureau of Land Management that all 17 lode mining claims have been accepted, serialized and recorded.

The transaction delivers complete project ownership and control without incurring any acquisition-related dilution for existing shareholders. The ground was acquired entirely through direct staking, meaning the arrangement carries no underlying royalties, option payments, third-party work commitments or shares issued as acquisition consideration.

The project is held directly through Pegmatite One’s wholly owned U.S. subsidiary, Wolfram Critical Minerals Inc.

The property covers the historic Golden Scheelite Prospect within the Varyville Mining District. Historical government records describe the occurrence as a tungsten-bearing skarn environment characterized by scheelite-bearing tactite enclosed in metamorphic rocks near quartz monzonite contacts. Past work on the property was limited to selective trenching and a single open cut completed during the 1950s, leaving the ground with no modern drilling or systematic exploration.

To evaluate the historical record and identify priority targets, Pegmatite One is finalizing a Phase 1 field program at the project. The upcoming work schedule is expected to encompass detailed geological mapping, ultraviolet-lamp prospecting for scheelite, systematic rock and channel sampling of historical workings, and soil geochemistry across prospective target areas.

Shares of Pegmatite One are currently trading at $0.235, up 2.17% on the session, with trading volume reaching 111,000 shares.

Read the full announcement: Pegmatite One Confirms 100% Interest in Golden Scheelite Tungsten Project, Humboldt County, Nevada