Western Star Resources (CSE:WSR) has amended the terms of a 2025 non-brokered private placement, which aims to raise C$1.5 million through the issuance of 10 million units at C$0.15 per unit.
Under the placement, each unit will comprise one common share and one common share purchase warrant, exercisable at C$0.30 within 24 months.
Western Star intends to use the funds to define high-priority drill targets at its namesake project in Canada, advance its critical minerals initiative in Nevada, and general working capital.
With over 6km of strike and drill permits in place, the company is ready to progress towards a maiden drilling program.
The Western Star Project consists of intensely deformed, stratiform-type deposits consisting of siderite and mineralised quartz formations with pyrite, galena, and sphalerite. The project covers 2,797.69 hectares and is located in British Columbia, Canada.
Western Star’s Nevada tungsten projects represent past-producing operations with established infrastructure and known high-grade mineralisation.
Western Star is an emerging junior mining company focused on revitalising North America’s tungsten supply. The company is advancing its entry into the US market through the acquisition of a past-producing tungsten mine in Nevada.
Write to Aaliyah Rogan at Mining.com.au
Images: Western Star
