Stelar Metals Limited (SLB.ASX) Drilling Started at Hill of Leaders Tungsten Project, NT

Stelar Metals Limited (ASX:SLB) announced that its maiden 3,500m bedrock RC drilling program has commenced at the HOL Tungsten Project in the Tennant Creek region of the Northern Territory.

Highlights

- Maiden bedrock Reverse Circulation (RC) drilling program underway at Hill of Leaders (HOL).

- The ~3,500m RC program is the first-ever bedrock drilling at HOL, and the first test of the tungsten system at depth since its discovery in 1951.

- Drilling will test beneath a 2km+ mineralised corridor where Stelar's surface sampling returned high-grade tungsten, including:

o 15.69% WO3 (12.45% W) - HOLA039
o 7.76% WO3 (6.16% W) - HOLA036
o 4.96% WO3 (3.94% W) - HOLA006
o 4.45% WO3 (3.53% W) - HOLA031
o 2.95% WO3 (2.34% W) - HOLA012

- Drill targets were refined using geological mapping, Phase 1 and Phase 2 rock chip sampling, and Ultra-High-Definition (UHD) airborne survey data.

- Extraordinary tungsten sector tailwinds with China's export controls on tungsten remaining in force, the US Department of War prohibition on Chinese-sourced tungsten taking effect 1 January 2027, and APT pricing at historic highs.

Stelar's Phase 1 and Phase 2 surface programs identified a zone of outcropping tungsten mineralisation, confirming high-grade tungsten as wolframite and scheelite across multiple discrete sites along the 2km+ mapped corridor, which remains open along strike and at depth. Notablesurface sampling results include 15.69% WO3 (HOLA039) and 7.76% WO3 (HOLA036).

Despite tungsten being discovered at HOL in 1951 and historical mining of high-grade tungsten from surface vein swarms, the field has never been drill tested at depth. Stelar's initial RC drill program at HOL is designed to deliver the Project's first bedrock drilling data, testing depth continuity of mineralisation beneath and along strike from historic mine workings and the high-grade tungsten mineralisation identified in the Company's Phase 1 and Phase 2 surface sampling programs.

The drill program is expected to take approximately 3-4 weeks. The Company will report drilling results as they become available.

Executive Chairman, Stephen Biggins, commented:

"Commencing our maiden 3,500m RC drilling program at Hill of Leaders is a major milestone for Stelar Metals. For the first time since its discovery in 1951, we are putting rigs on the ground to test this high-grade tungsten system at depth beneath a mapped corridor extending over 2 kilometres.

"With surface sampling returning exceptional grades up to 15.69% WO3 and strong global demand for critical minerals and high-prices for tungsten, we look forward to reporting drill updates and results as they arrive."

Next Steps

- Complete 3,500m maiden bedrock RC drilling program
- Report soil geochemical results, which are expected in the coming weeks
- Drill updates and assays as they become available

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/B23XA40V

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

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