Elementos Limited (ASX:ELT) has reported ‘significant’ intercepts from resource definition drilling at its 100%-owned Oropesa Tin Project in Spain, with the company stating that results confirm a new zone of shallow mineralisation outside of the 2018 mineral resource.
Key results from the diamond drilling campaign include:
- Hole Expn_025A: 33.2m @ 0.30% Sn from 2.9m; including
- 18.8m @ 0.40% Sn from 2.9m
- Hole Expn_054A: 9.1m @ 0.22% Sn from 22.2m + 7.9m @ 0.31% Sn from 35.3m
Assay results from a further five holes are pending, which will round out data from the 44-hole program and allow the company to complete an updated MRE, due in October.
Map of the Oropesa Tin Project displaying shallow mineralisation targeted in the latest round of drillingWorld-class Oropesa Tin Project
The 14.51km² Oropesa Tin Project, situated in Andalucia, Spain is reported to be one of the world’s largest undeveloped, potential open-cut tin deposits.
The project was acquired by Elementos in January 2020, and includes a 2012 JORC measured, indicated and inferred mineral resource of 67,520 tonnes of tin. An economic study delivered in 2020 saw prospective annual output of 2,440 tonnes of tin, with a 14 year lifespan.
Oropesa is well served by existing infrastructure including water and power supply, and major highways linking to export ports.
Elementos reports that its next steps at Oropesa include the delivery of a definitive feasibility study along with completion of environmental permitting.
“The results from these drill holes confirms along strike and down dip extensions to the shallow mineralisation reported in earlier announcements”
Management comments
Elementos CEO Joe David said: “The results from these drill holes confirms along strike and down dip extensions to the shallow mineralisation reported in earlier announcements on 24 and 30 August 2021. Drill hole Expn_025A is located along strike and to the southeast of the mineralisation previously reported in drill hole Expn_055A. This mineralised zone has been intentionally targeted by a set of drill holes in this program.
Drill hole assays from the remaining five drill holes, which are all located along strike or down dip of this intersected shallow mineralisation, should confirm the full extent and grades of this mineralised zone, and will therefore likely contribute to the Mineral Resource Estimate estimated to be delivered in October 2021. This updated Mineral Resource will be the core data that the DFS will build-off to drive the projects techno- economic assessment.”
Images: Elementos Limited
