Stelar Metals Limited (ASX: SLB) | Widespread High-Grade Tungsten Discovered at Hill of Leaders
MarketOpen Trading Titan Podcast | Stelar Metals Limited (ASX: SLB) | Widespread High-Grade Tungsten Discovered Across Hill of Leaders, NT
This episode covers Stelar Metals' maiden exploration results from the Hill of Leaders Project in the Northern Territory. The company's Phase 1 rock chip sampling program returned multiple high-grade tungsten assays, with the highest grading one point four one one percent tungsten trioxide from eighteen surface samples collected. More than one quarter of all samples exceeded zero point five percent tungsten trioxide. The company states scheelite and wolframite mineralisation was identified across multiple historical workings and prospect areas, with mineralised quartz vein corridors described as approximately two hundred metres wide and around two kilometres long.
The program also returned elevated molybdenum, copper, bismuth and minor gold values. The company states these results indicate the presence of a potentially significant polymetallic mineralising system.
Following these results, the company is fast-tracking planning for the next phase of exploration, including additional geological mapping, extensional surface sampling, ultra-detailed geophysical surveys, a maiden reverse circulation drilling program and subsequent diamond drilling.
Key numbers covered in this episode include the highest tungsten assay of one point four one one percent tungsten trioxide, the second highest assay of one point one one zero percent tungsten trioxide, the highest copper assay of six point six four percent, the highest bismuth assay of zero point four percent, the highest gold assay of zero point one five five grams per tonne, an average molybdenum assay of zero point zero two six percent and a highest molybdenum assay of zero point zero five eight percent.
Investors should watch for Phase 2 assay results expected in the coming weeks and further updates on the timing of the maiden reverse circulation drilling program.
No Mineral Resource estimate has been reported and no drilling results have been released at this stage.
Everything in this episode is for information purposes only. Nothing constitutes financial advice. Listeners should do their own research and consider their own financial circumstances before making any investment decision.