Tin explorer Stellar Resources (ASX:SRZ) is incorporating the results from a recently completed drilling program into an updated Mineral Resource Estimate (MRE) for its Heemskirk Tin Project in Tasmania.
The $15.08 million market capitalisation company reports the updated MRE aims to build on the MRE released on 24 November 2022 that increased the indicated resource by 24%. The results from the phase two B drilling and the updated MRE are also expected to support a Prefeasibility Study for the project planned for the second half of 2023.
Stellar plans to release the updated MRE in late August.
The 9-hole, phase two B drilling program was completed for 4,022m across the Severn deposit in mid-July. Stellar says the project focused on following wide ‘high-grade’ areas of the deposit to further increase the indicated mineral resource across a northern high-grade zone and a potential southern high-grade zone.
Newly reported results from the program include hole ZS159 with 3.3m @ 0.58% Sn from 270m and 11.3m @ 0.13% Sn from 301m; and ZS160 with 13m @ 0.65% Sn from 250m, including 3m @ 1.82% Sn from 250m and 4m @ 0.64% Sn from 259m, and 7m @ 0.51% Sn from 271m.
Hole ZS161 returned 2.1m @ 1.22% Sn from 191m, including 3m @ 0.47% Sn from 222m, 6m @ 0.44% Sn from 233m, and 5m @ 0.89% Sn from 265m.
Stellar expects the remaining results for holes ZS162 and ZS163 to be reported in late July and mid-August, respectively.
Commenting on the results, Stellar Resources Executive Director Gary Fietz says: “The results from these holes are expected to contribute to the phase two B drilling program objective of increasing the Severn indicated mineral resource when the MRE is updated in late August.
“The pending results of the final 2 phase two B holes are also expected to contribute to increasing the Severn indicated mineral resource”
Importantly, holes ZS160 and ZS161 are expected to extend the indicated mineral resource upwards in the shallow upper part of the Severn deposit. The pending results of the final 2 phase two B holes are also expected to contribute to increasing the Severn indicated mineral resource.”
Stellar Resources is an Australian tin explorer focused on developing its flagship Heemskirk Tin Project on the west coast of Tasmania. The project has a total MRE of 7.6 million tonnes @ 1.1% tin, while the Severn deposit hosts a total MRE of 4.9 million tonnes @ 1% tin.
On 19 May 2023, the company reported it received $258,500 under the Tasmanian government’s Exploration Drilling Grant Initiative (EDGI) to explore its base metals and critical mineral targets.
Write to Harry Mulholland at Mining.com.au
Images: Stellar Resources Ltd
