For decades, tungsten sat in the background of global industry—indispensable, yet unnoticed.
Today, it’s anything but.
Soaring prices, wartime supply disruptions, and a scramble by Western nations to rebuild domestic production have suddenly turned this ultra‑hard, high‑tech metal into one of the most strategically vital resources in the world. The race to secure it has already begun.
With tungsten prices surging and U.S. policy pivoting toward domestic supply, Western Star Resources (CSE:WSR) is positioning itself at the centre of a resurgent critical‑minerals story.
This article is disseminated in partnership with Western Star Resources Inc. It is intended to inform investors and should not be taken as a recommendation or financial advice.
The Vancouver‑based mining company recently made news that it had agreed to acquire the past‑producing Rowland Project in Nevada’s historic Jarbidge district—an asset with historic shipments grading 3.38 per cent tungsten (WO, reported) and additional output in the 1950s at 0.5–1.0 per cent WO. Set against tightening supply and heightened defense‑sector demand, the acquisition frames Western Star’s tungsten‑first strategy, complemented by a permitted, high‑grade CRD (copper–gold–silver–zinc) project in British Columbia.
“Tungsten’s the story at the moment,” says CEO Blake Morgan in an exclusive interview with Stockhouse Editorial. “Everything’s going absolutely crazy. It’s about US$2,400 now. A year ago it was probably US$100. There’s Pentagon funding flowing, and supply constraints are real.”
Why tungsten—and why now
Tungsten’s properties—extreme hardness, high melting point, density—make it indispensable in defence, aerospace, energy, tooling, and semiconductor supply chains. Western Star’s thesis is straightforward: strategic scarcity + policy tailwinds + high‑grade past production create a rare window for domestic development.
Morgan argues the supply situation is acute: “There’s not one tungsten operating mine in North America— not one. The U.S. [Department of War] has been funding domestic tungsten. We’re seeing grants go to companies in the space, and we’ve been invited into conversations because of our Nevada focus.”
He believes price momentum has only begun. “I think tungsten this year will go to US$3,000—maybe US$4,000. With geopolitics where they are, the strategic value of tungsten is finally breaking into the mainstream.”
The Rowland Project (Nevada): High‑grade, past producer, road‑accessible
The Rowland Property—about six miles southwest of Jarbidge—sits in limestones, shales, and quartzites intruded by a quartz monzonite stock, with skarn and hornfels zones up to 30 metres (100 feet) wide. Scheelite (tungsten mineralization) occurs as both coarse crystals and fine dissemination with molybdenite, powellite, pyrite, chalcopyrite, and limonite in a garnet–epidote–quartz–calcite skarn assemblage.
Historic highlights (reported):
- 1943: 4.5 tons shipped at 3.38 per cent WO
- 1954–56: ~1,000 tons at 0.5–1.0 per cent WO
- Workings: Two shallow shafts, several hundred feet of open cuts
- Access: Road in, power and water nearby; BLM tenure
“The Rowland Project is geologically exceptional,” says Morgan. “Our production grades are 12–15× the national average. You can walk the adits at night, shine a UV light, and see tungsten in the walls. They mined the easy stuff and walked away.”
2026 work program (Nevada):
- April: Crews mobilize for geophysics, channel sampling, mapping, soils (post‑snowmelt)
- May: Drill targets defined; permits submitted
- June/July: Initial drilling (two‑to‑six‑week permitting timelines are typical in Nevada)
“We know we’ve got the grade,” Morgan adds. “Now we need to test the scale. We’ll channel sample the exposed mineralization and put initial drill holes straight through the visible skarn to generate early results, then expand from there.”
Jurisdiction advantage:
“Nevada is as pro‑mining as it gets,” Morgan says. “Roads, power, water—no helicopters. Permitting can be two to six weeks. Communities are mining‑friendly, and BLM tenure is clear.”
Beyond One Mine: Building a multi‑asset tungsten platform
Six months ago, Western Star disclosed exclusivity rights and LOIs on six additional past‑producing tungsten mines in Nevada. Due diligence, Morgan says, has been “absolutely phenomenal.”
The second leg: High‑Grade CRD Project (British Columbia)
Western Star’s BC CRD asset provides diversification while staying in the critical‑metals lane (Cu‑Au‑Ag‑Zn). According to Morgan:
- 6 km of mineralization mapped on surface
- Glacial recession has exposed new bedrock with visible gold
- Reported surface values:
- Gold: 1–10 g/t
- Silver: 100–4,000 g/t
- Copper: 1–10 per cent
- Zinc: 1–10 per cent
- Shallow drilling anticipated; permits already in place
“CRDs can be exceptionally high grade, and ours is completely on surface,” says Morgan. “It’s never been drilled. We’ll narrow targets with channel sampling and then go straight to drilling.”
Access and logistics: Near‑drive‑to with a short helicopter hop from Revelstoke; no permanent camp required to keep costs lean.
Timing: Morgan expects August (possibly September) for first drilling in BC, creating a steady news cadence: April (Nevada fieldwork), June/July (Nevada drilling), late summer (BC drilling), plus potential acquisition news on the tungsten portfolio.
Financing, capital structure and insider alignment
Western Star recently closed a C$3 million private placement, upsized from an initial C$1.5 million announcement. Investor interest was strong:
“We actually took in nearly C$5 million in subscriptions,” Morgan explains. “But as the share price moved up, the exchange capped us at C$3 million. We took C$3.1 million, and about C$1.8 million missed out—those investors bought in the market.”
Share structure (per management):
- ~35 million shares outstanding (post‑financing; previously ~14.6M)
- Float broadly similar, but institutional/strategic ownership increased
- Management alignment: CEO is the largest shareholder and reports near‑daily open‑market purchases via SEDI
“If I’m raising money from people and I don’t have my own money in, who’s going to invest?” says Morgan. “I make sure I’m the #1 shareholder.”
Liquidity and runway: Management indicates ~C$3 million cash on hand and is evaluating BC flow‑through for the CRD program. Nevada’s near‑road access reduces costs for the tungsten work program.
Leadership and team
Morgan describes himself as a third‑generation miner:
- Rio Tinto (6 years): operations and Indigenous relations, negotiating royalty and exploration agreements nationwide
- BHP (3 years) and Santos (≈3 years) in Australia, continuing land and stakeholder work
- Transitioned to building and listing juniors, then moved to Canadian markets (TSXV/CSE)—“my wife’s Canadian; she made sure of it,” he jokes.
This background—major‑company discipline + junior‑company agility—underpins Western Star’s dual‑track execution in Nevada and BC.
Risks, realities and what to watch
Morgan is candid about the backdrop: “Markets have been volatile, geopolitics are unpredictable, and investor education on tungsten is still needed. Our challenges are awareness, execution, and keeping up with the opportunity.”
Key 2026 catalysts to watch:
- Nevada (Rowland)
- April: fieldwork starts (geophysics, mapping, soils, channels)
- May: targets + permits
- June/July: first drilling and initial assays
- BC CRD
- August/September: first drilling on a permitted, never‑drilled 6‑km system
- Corporate
- Potential acquisitions of additional past‑producing tungsten mines in Nevada (LOIs/exclusivity in place)
- Potential engagement with U.S. defense‑related funding programs
- Continued insider buying and institutional participation
“There are maybe four companies like us,” Morgan says. “They trade at C$200–C$300 million. We’re at C$20–C$25 million. The growth room over the next year is astronomical if we execute.”
Investor’s corner: Tungsten‑led, critical‑metals optionality
Western Star’s strategy is to unlock critical‑mineral value across North America with tungsten as the spearhead:
- High‑grade, past‑producing Nevada tungsten skarn with no modern drilling
- A second, permitted CRD asset with exceptional surface grades and shallow targets
- A pipeline of six additional past‑producing tungsten mines under LOI/exclusivity
- Funding secured, tight share structure, and CEO‑led insider buying
If the company can confirm continuity of Rowland’s high‑grade mineralization and demonstrate scale with modern drilling—while advancing the BC CRD—Western Star could evolve rapidly from a small‑cap explorer into a multi‑asset tungsten platform aligned with North American security‑of‑supply priorities. Investors take note: WSR stock has risen nearly 200 per cent since this time last year.
As the push to rebuild North America’s strategic mineral supply chain accelerates, the next chapters of this story are already being written. Readers can learn more, explore project details, and stay up to date by visiting the company’s website.
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