Stelar Metals Limited has returned a peak assay of 15.69% WO₃ from Phase 2 surface sampling and geological mapping at the Hill of Leaders Tungsten Project in the Northern Territory.

The latest program delivered high grades across 29 reported samples, with seven samples—approximately 24% of the batch—exceeding 1% WO₃. Sample HOLA039 returned the highest grade at 15.69% WO₃ (12.45% W) from spoils near old trenches at the Doria workings. Additional high-grade results included 7.76% WO₃ from sample HOLA036, 4.96% WO₃ from HOLA006, 4.45% WO₃ from HOLA031, and 2.95% WO₃ from sample HOLA012.

“These are the results every explorer hopes for and very few see. Fifteen percent WO₃ at surface, backed up by a further six samples above one percent, tells us Hill of Leaders is a high-grade tungsten system of genuine substance.

Importantly, the Phase 2 fieldwork sampled ground we had not covered before, and so to find more tungsten is compelling. Just two field programs in and the system is bigger than when we started.”

— Stephen Biggins, Executive Chairman

The Phase 2 program successfully expanded the mineralised footprint into previously untested ground beyond the Phase 1 sample footprint, with new mineralised sites discovered west of the project area at samples HOLA009 and HOLA010. Mineralisation was observed in vein swarms and surrounding altered granitic wallrock.

Stelar Metals has designated the Hill of Leaders Tungsten Project as its flagship asset. To fund field activities and drilling, the company completed a single-tranche placement of 13,141,421 ordinary shares at $0.20 per share in August 2026, raising approximately A$2.6 million.

The mapping results have advanced drill targeting ahead of Stelar Metals' maiden 3,000-metre reverse circulation drilling program, which is scheduled to commence in late August or early September 2026.

Read the full announcement: Spectacular High-Grade Tungsten at Hill of Leaders Project