Elementos (ASX: ELT) reports the presence of near-surface tin mineralisation following commencement of a diamond drilling (DD) campaign at its Oropesa Tin Project in Spain.
The results, generated by the first drill-hole of a nine-hole infill DD program, has returned ‘broad’ intersections at the margin of the current geological resource, with key results including:
- Hole ADD_24: 37.9m @ 0.34% Sn from 59.3m
- 9.6m @ 0.2% Sn from 109.3m (0.1% Sn cut-off grade)
Speaking on the results, Elementos Managing Director, Joe David, said: “This is an encouraging result to kick-off our 2022 infill drilling program at Oropesa. The main aim of this program is to upgrade the Inferred Mineral Resources, that reside within the US$30,000/t pit shell, to a higher confidence Resource category.
“The main aim of this program is to upgrade the Inferred Mineral Resources”
Drillhole ADD_24 targeted the intersection of two significant previously interpreted controlling structures and confirms the continuity of the tin mineralisation at this location, but notably has intersected a much broader zone of mineralisation than currently modelled.”
The Oropesa Tin Project is located about 75km north-west of Cordoba and about 180km north-east of Seville in the Andalucia region of southern Spain and consists of a 14.51km2 concession package.
Elementos completed the acquisition of the Oropesa Tin Project in January 2020 and is regarded as one of the world’s largest undeveloped, open cut mineable tin deposits, representing a near-term development and cash flow opportunity for the company.
The project currently boasts a JORC compliant Measured, Indicated and Inferred Resource of 75,400 tonnes of tin and has recently undergone a JORC defined Scoping Study which has confirmed a robust case for upgrading the project scale to 1.25Mtpa Run of Mine (ROM) rate, with an average tin production projected at 3,350tpa.
Elementos announces that it remains focused on the current DD campaign and modelling the newly identified broad zone of mineralisation.
Images: Elementos Limited
