Stellar Resources Limited (ASX:SRZ) Announces Extended High-Grade Tin Intercepts at Queen Hill
Drilling Results
Stellar Resources Limited (ASX: SRZ) announced extended high-grade tin intercepts at the Queen Hill deposit within its Heemskirk Tin Project. Drillhole ZQ186 returned 6.3 meters at 2.2% Sn, including 2.0 meters at 2.81% Sn from 374 meters. This intersection is located 50 meters below the recent intercept in drillhole ZQ181 and exhibits a higher tin grade thickness.
Project Progress
The results support the potential continuation of the Heemskirk tin system and the conversion of Inferred to Indicated material in the upcoming Mineral Resource Estimate (MRE) update. A wedge hole off drillhole ZQ186 is underway to further test mineralisation around the intersection. Due to the success of the current drilling program, Stellar Resources plans to extend the drill program, with details to be announced upon completion of planning. Prefeasibility work, including ore sorting tests, is progressing towards the company’s goal of producing 3,000 to 3,500 tpa of payable tin.
Executive Comments
Managing Director Mr Simon Taylor commented, “As we enter the later stages of the 9,500m infill and extensional drill program, we continue hitting strong mineralisation at Queen Hill confirming the consistency of the deposit and providing further support for Resource upgrade and expansion. The intercept in ZQ186 again shows higher grade than in the 2023 Resource model and the strong chance of converting further tonnes to the Indicated category in our Mineral Resource upgrade.
“Our success with the drill bit provides ongoing confidence in our belief that Queen Hill and Severn are part of a larger tin system that offers significant upside potential for Stellar and these results warrant an extension to the drill program that we are now planning.
“Stellar aims to become a producer of 3,000 to 3,500 tpa of payable tin over the first 6 to 10 years of production at Heemskirk. The Prefeasibility studies are focused on advancing towards this goal by improving upon the base case scoping study of 1,900 tpa over a 12-year mine life.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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