Sky Metals - Exceptional Ore Sorting Results for Tallebung Tin Project
SKY METALS LIMITED (SKY) Share Update September 2024 Monday 16th
Sky Metals Announces Exceptional Ore Sorting Results for Tallebung Tin Project
Sky Metals Limited (ASX: SKY) has announced significant advancements in ore sorting technology for its Tallebung Tin Project in New South Wales, showcasing the potential for low-cost tin production.
Instant Summary:
- TOMRA ore sorting testwork shows a 44x upgrade in tin grade.
- High recovery rates of tin, with up to 99.3% tin recovery.
- Potential for reduced Capex and Opex due to smaller processing plant requirements.
- Additional assay results expected soon for the 13-hole RC drilling program.
Ore Sorting Testwork Results
The latest TOMRA ore sorting testwork at the Tallebung Tin Project has yielded exceptional results. A sample from drillhole TBD012 (42-92m) showed a remarkable increase in tin grade from 0.10% to 4.42%, representing a 44x upgrade. The test also achieved an 83% recovery of tin from just 1.9% of the total mass, indicating a 98.1% reduction in the sorted mass.
These results highlight the suitability of the Tallebung tin mineralization for TOMRA X-Ray Transmission ore sorting technology. Previous testwork has consistently demonstrated strong upgrades across the deposit, with conservative ore sorting achieving significant tin recoveries. For example, sample TBD005 (206-232m) showed a 6.6x upgrade from 0.17% to 1.10% tin, with a 99.1% tin recovery.
Optimization and Future Plans
Sky Metals plans to continue optimizing the ore sorting process to maximize tin upgrades while maintaining high recovery rates. This approach aims to further reduce the potential project Capex and Opex by enabling the construction of a smaller processing plant. Additionally, assay results from a recent 13-hole RC drilling program are expected soon, which could further enhance the project's prospects.
Environmental and Economic Benefits
The ore sorting technology not only improves tin grade but also offers significant environmental and economic benefits. A smaller processing plant requires less water and power, reducing the project's environmental footprint. Additionally, the reduced mass to be processed lowers operational costs, making the project more economically viable.
CEO's Statement
Sky Metals CEO Oliver Davies commented, 'Tallebung has once again shown that it is an ideal deposit for ore sorting and has exceptional potential for low-cost tin production. This huge upgrade of tin into a very small mass with more aggressive ore sorting shows that there is outstanding potential at Tallebung to further reduce potential project Capex and Opex.'
The outstanding ore sorting results are likely to positively impact Sky Metals' stock price as investors recognize the potential for reduced Capex and Opex. The high tin recovery rates and significant grade upgrades enhance the project's economic viability, making it an attractive investment opportunity.
Investor Reaction:
Analysts are expected to react positively to the announcement, noting the significant advancements in ore sorting technology and the potential for reduced costs. The upcoming assay results from the RC drilling program could further bolster investor confidence.
Conclusion:
Investors should keep an eye on the upcoming assay results and Sky Metals' continued optimization efforts. The Tallebung Tin Project's potential for low-cost production and high tin recovery rates make it a promising investment opportunity. Stay informed on Sky Metals' progress and strategic developments.