Western Star Resources Inc. (CSE: WSR) announced that it has acquired a 100% interest in the past-producing Eagle Point Tungsten Mine in Hidalgo County, New Mexico. This acquisition expands the company's U.S. tungsten portfolio into a new district with significant untested exploration potential.
The Eagle Point mine, located in the Little Hatchet mining district, produced approximately 1,800 tons of scheelite-bearing ore during World War II, with historical grades around 0.5% WO3. Surface trenching by U.S. government agencies in the 1950s estimated between 100,000 and 200,000 tons of scheelite-bearing material. However, recent sampling by the U.S. Geological Survey (USGS) returned grades as high as 27.6% WO3, suggesting that historical work significantly underestimated the property's grade potential.
The United States currently has no domestic commercial tungsten production, and approximately 85% of global supply is controlled by China, according to the USGS Mineral Commodity Summaries 2025. Tungsten is a designated critical mineral essential for defense, aerospace, and energy applications. The acquisition aligns with recent U.S. government directives to fast-track domestic tungsten projects.
The property comprises 24 unpatented lode mining claims covering the historic Eagle Point workings and prospective geology. The deposit is a contact-metamorphic tungsten skarn, similar to settings that host many of the world's largest tungsten deposits. Molybdenum is also present as a potential co-product, with USGS samples returning up to 0.98% Mo.
Historical work includes four federal exploration-assistance applications between 1941 and 1957. In 1955, the U.S. government approved a Defense Minerals Exploration Administration contract to fund 75% of a drilling program, but the contract was never executed. As a result, the property remains effectively untested at depth and along strike using modern geophysical, geochemical, and drilling techniques.
Western Star plans to conduct a systematic exploration program, including a high-resolution drone magnetic survey, rock-chip and soil geochemical sampling, and field mapping with ultraviolet fluorescence surveying. The company intends to use these results to prioritize drill targets and support permitting.
Under the acquisition terms, Western Star paid C$150,000 and issued 4,000,000 common shares to the vendors, along with a 1.5% net smelter returns royalty. The company may repurchase 1.0% of the NSR for C$1,000,000.
Blake Morgan, CEO and President of Western Star, said, "Eagle Point is the kind of asset you build a company around. It brings together everything we look for in one place - high-grade tungsten, a documented production history, eight separate skarn bodies exposed at surface, and a tier-one U.S. jurisdiction - yet it has never once been touched by modern exploration."
The scientific and technical information in this news release has been reviewed by Jasper Mowatt, a Qualified Person under NI 43-101. The acquisition is subject to customary regulatory approvals.
