What is the significance of Stelar Metals (ASX:SLB) acquiring the Hill of Leaders Tungsten Project?

Stelar Metals has entered an earn-in agreement to acquire 100% of this project, marking a strategic pivot toward critical minerals. Tungsten is increasingly vital for global defense, semiconductors, and electrification, and is classified as a critical mineral by the US, EU, Japan, and South Korea.

Why is tungsten currently considered a strategic asset for investors?

Tungsten prices have surged nearly 900% over the last 12 months, driven by Chinese export controls and Western efforts to decouple supply chains. As a high-performance metal used in "new economy" sectors like semiconductors and green energy, it has become a focal point for strategic stockpiling.

What are the key technical highlights of the Hill of Leaders Project?

The project is characterized by high-grade mineralization, with historical rock chip samples showing up to 6.1% WO3 and significant base metal results including 11.85% copper. Historical shallow aircore drilling has also returned intersections such as 1m @ 0.60% WO3.

How does the location of the Hill of Leaders Project impact its valuation?

The project is located in the Northern Territory, just 80km from Tennant Creek, providing it with excellent proximity to existing road and rail infrastructure.

Who is leading the Stelar Metals (ASX:SLB) strategy and what is their track record?

The project is being overseen by Executive Chair Stephen Biggins, who successfully led the development of Core Lithium’s Finniss Project. His experience in bringing the first operating lithium mine in the Northern Territory to fruition provides a layer of execution credibility.

Stelar Metals expands with strategic tungsten acquisition

Written by Mahathir BayenaPublished May. 13 2026

Stelar Metals (ASX:SLB) entered an earn-in agreement to acquire the Hill of Leaders Tungsten Project from F&H Brothers Metals.

Located in the Northern Territory, the acquisition represents an expansion for the company, pivoting its portfolio towards a metal increasingly prioritised for global industrial, electrification, and defence applications.

The project is highlighted by its proximity to existing infrastructure, situated just 80km from Tennant Creek with ready access to major road and rail networks.

Early technical assessments of the site have yielded results, featuring historical high-grade rock chip samples of up to 6.1% WO₃ and significant base metal results including 11.85% copper.

The findings, alongside shallow aircore drilling intersections, underscore the site’s potential as a dual-commodity asset with strong geological similarities to the nearby Hatches Creek deposit.

Executive Chair Stephen Biggins, who previously led the development of Core Lithium’s Finniss Project, emphasised that the project’s strategic value is enhanced by current market dynamics, where tungsten prices have surged nearly 900% in twelve months due to Chinese export controls and Western supply chain decoupling.

Stelar Metals plans to initiate a phased reverse circulation drilling programme to test bedrock beneath surface vein swarms and define the extent of mineralisation.

At the time of reporting, Stelar Metals’ share price was $0.10.