Western Star Resources (CSE:WSR) is conducting a non-brokered private placement of up to 6 million units at C$0.50 per unit for C$3 million ($3.04 million).
The funding will be used for phase one and two drilling programs on the past-producing tungsten asset — Rowland —– as well as the completion of the company’s critical metals move into Nevada.
Each unit will comprise one common share and half a common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at C$0.75 for a 24-month period.
CEO Blake Morgan says this funding will supplement the existing C$2.6 million treasury and provide additional capital for several drill programs.
“Following the acquisition of the Rowland Property, tungsten prices have risen significantly from approximately C$600 to above C$3,000, highlighting the substantial opportunities within Western Star’s past-producing tungsten property,” Morgan says.
“Our team has collected historical data and identified various workings, including shafts, adits, trenches, and open pits associated with prior production. Verifying and sampling these sites is a major priority as we aim to confirm the high-grade mineralisation and progress the project toward drilling this season.”
Nevada’s tungsten project
Earlier this quarter, Western Star expanded the Rowland Project by 170%, through physical claim staking.
The expanded land package encompasses historical mine workings, including a newly identified adit, and positions Western Star to pursue district-scale tungsten exploration in one of Nevada’s most established mining jurisdictions.
Since acquiring Rowland in late 2025, Western Star has compiled the available historical data, completed a light detection and ranging (LiDAR) survey to uncover areas that indicate historical mining activity, and conducted a local and regional geological assessment.
Historical production of more than 1,000 tonnes of ore grading up to 3.39% tungsten oxide was reported between 1943 and 1956 at workings along the trend from the expanded claim boundary.
The Rowland Project is a road-accessible past-producing asset located six miles southwest of Jarbidge in northeastern Nevada. The property is characterised by limestones, shales, and quartzite intruded by a Cretaceous-aged quartz monzonite stock.
Western Star Resources is an emerging junior explorer focused on revitalising North America’s tungsten supply.
Write to Aaliyah Rogan at Mining.com.au
Images: Western Star
