Northwire Canada EditionFriday, August 14, 2026
Northwire
HMR 0.510 +0.0% NAU 1.85 +2.8% PPTA 35.34 +2.5% PA 0.160 +0.0% FAIR 0.055 +0.0% EMR 0.065 +0.0% AEF 0.140 +0.0% TIGR 0.730 −1.4% VTEN 0.700 +0.0% SGML 16.27 +3.4% GIG 0.500 +0.0% KCC 0.890 +0.0% MKO 13.65 +0.2% TNR 0.330 +3.1% SGQ 0.340 +0.0% KRY 3.43 +2.4% HMR 0.510 +0.0% NAU 1.85 +2.8% PPTA 35.34 +2.5% PA 0.160 +0.0% FAIR 0.055 +0.0% EMR 0.065 +0.0% AEF 0.140 +0.0% TIGR 0.730 −1.4% VTEN 0.700 +0.0% SGML 16.27 +3.4% GIG 0.500 +0.0% KCC 0.890 +0.0% MKO 13.65 +0.2% TNR 0.330 +3.1% SGQ 0.340 +0.0% KRY 3.43 +2.4%
Drill Results Routine +

Boots on the Ground. The Tungsten System That Was Never Drilled Is About to Be

Perpetua begins maiden field exploration at the historically promising but untested NM tungsten skarn deposit.

Executive Summary

Western Star Resources Inc. has officially commenced its maiden field exploration program at the Eagle Point tungsten skarn project in Hidalgo County, New Mexico. This initiative marks the first systematic, modern exploration on the property since the 1950s, transitioning the site from historical records to active ground truthing.

Dahrouge Geological Consulting is executing detailed geological mapping, structural analysis, digital field mapping, systematic channel and grab sampling, and drill-collar ground truthing. The field program is targeted for completion by August 31, 2026, followed by a field summary and assessment report to refine drill targets for a future maiden drilling program.

Historical data outlines approximately 170,000 tons of mineralization, but a 1950s U.S. Government drilling initiative was never executed, leaving the system largely untested at depth and along strike. The company has also submitted an application to the U.S. Defense Industrial Base Consortium (DIBC) to validate tungsten as a strategic critical mineral supply.

Material Impact

Perpetua Resources Corp. (PPTA) has begun field exploration as part of Western Star’s 2026 work program, a move that aligns with previous announcements regarding the Eagle Point portfolio. This development represents an expected, incremental step in the company’s operations and does not introduce fundamentally new financial or operational data.

While historical estimates of approximately 170,000 tons and high-grade surface samples, such as one assay showing 27.6% WO3, are encouraging, these figures are historical and selective. The market has already priced in this exploration phase, characterizing the update as routine rather than a material catalyst.

The DIBC application serves as a strategic forward step for the company but remains unvalidated. Until modern drilling confirms resource continuity and grade, the financial and strategic impact of the project remains speculative.

PPTA · Price
Company Overview

Western Star Resources Inc. is developing a three-asset tungsten portfolio in the United States. The Eagle Point project in New Mexico is a historically producing tungsten skarn that outlined approximately 170,000 tons of mineralization in the 1950s. The system comprises eight skarn bodies along a 1,500–2,000-foot corridor and remains largely untested at depth.

In Nevada, the Rowland Tungsten Property historically produced approximately 1,000 tons of ore grading 0.5–1.0% WO3 between 1954 and 1956. A 2026 work program includes rock sampling, soil sampling, and UAV magnetic surveys ahead of maiden drilling. The White Star Tungsten Project forms a 6-kilometer prospective corridor, expanding the company's land package in a favorable jurisdiction.

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