Corporate Update: Stelar Metals Limited Completes First Phase of Reverse‑Circulation Drilling at Hill of Leaders Tungsten Project

Stelar Metals Limited (ASX: SLB) has announced that it has finished a 3,300‑metre maiden reverse‑circulation (RC) drilling programme at its Hill of Leaders Tungsten Project in the Northern Territory. The 26‑hole campaign, undertaken by a reputable contractor, targeted a granite‑hosted quartz vein system that has long been recognised for tungsten mineralisation.

Technical Findings

  • Visual inspection, UV fluorescence and portable XRF screening consistently recorded scheelite and wolframite in a number of holes, indicating the presence of tungsten‑bearing veins and elevated tungsten in the surrounding granite across more than 1,300 metres of strike.
  • The mineralised system remains open to the east and west; indications suggest the strike length may extend beyond two kilometres.
  • Initial field observations point to a heterogeneous distribution of high‑grade intervals within a broadly defined swarm of veins, although laboratory assay results are not yet available.

Stelar plans to add further RC holes to test these extensions and to pursue deeper exploration once the first batch of assays is reported.

Supporting Geoscientific Work

  • Regional geochemical and airborne magnetic surveys identified structural controls and alteration patterns consistent with the tungsten‑bearing system.
  • A soil survey covering a wide area of the tenement has also been completed; results are expected shortly.
  • The company will use the combined data set to refine exploration targets and assess the continuity and potential scale of the deposit.

Asset Position and Governance

The project sits within a tenement granted to a previous operator in 2023; Stelar holds an earn‑in agreement that allows full acquisition of the asset. Exploration activities are being conducted under the oversight of a qualified competent person and in accordance with the JORC Code, with all sampling and assay methods documented in detail.

Outlook

The first phase of drilling has provided encouraging evidence of tungsten mineralisation at Hill of Leaders. Stelar Metals will continue with additional drilling and laboratory analysis to better define the deposit’s extent and grade before moving toward a more comprehensive resource estimation.

End of Report.