Sky Metals Limited: Promising Drilling Results at Tallebung Tin Project
SKY METALS LIMITED (SKY) Share Update September 2024 Monday 30th
Sky Metals Announces Promising Drilling Results at Tallebung Tin Project
Sky Metals Limited (ASX: SKY) has released promising drilling results from its Tallebung Tin Project in New South Wales, highlighting significant high-grade tin intercepts that underscore the project's growth potential.
Instant Summary:
- Broad, higher-grade tin intersections returned from in-fill drilling under the historic southern open pit.
- Key results include 29m @ 0.50% tin & 33.8g/t silver from 173m in TBRC114, including 7m @ 1.23% tin & 106g/t silver.
- Results demonstrate excellent continuity of higher-grade zones within the Tallebung deposit.
- The drilling program aims to significantly increase the size, grade, and confidence of the current MRE.
Drilling Results Overview
Sky Metals Limited (ASX: SKY) has reported final assay results from the in-fill Reverse Circulation (RC) drilling program completed recently at its 100%-owned Tallebung Tin Project, NSW. The drilling program has returned broad, higher-grade tin intersections from in-fill drilling under the historic southern open pit at Tallebung, with notable results including 29m @ 0.50% tin & 33.8g/t silver from 173m in hole TBRC114, including 7m @ 1.23% tin & 106g/t silver.
These results confirm excellent continuity of another higher-grade zone within the Tallebung deposit, adding to previously discovered high-grade zones. The results are expected to improve the geological models for the Tallebung Project, aiming to significantly increase the size, grade, and confidence of the current Mineral Resource Estimate (MRE).
Significant Intercepts
The drilling program included 13 Reverse Circulation (RC) drill-holes (TBRC103-TBRC115), all of which successfully intersected further higher-grade tin mineralisation. Highlights from these drill-holes include:
- TBRC113: 10m @ 0.27% tin, 0.03% tungsten & 7.53g/t silver from 62m, including 1m @ 1.76% tin, 0.03% tungsten & 5.54g/t silver.
- TBRC114: 29m @ 0.50% tin, 0.06% tungsten, 33.8g/t silver & 0.53% zinc from 173m, including 7m @ 1.23% tin, 106g/t silver, 0.06% copper & 0.35% zinc.
- TBRC115: 11m @ 0.43% tin & 49.7g/t silver from 85m, including 6m @ 0.71% tin & 56.6g/t silver.
The high-grade tin intercepts reported by Sky Metals are significant as they highlight the potential for the development of these areas. The results suggest that the Tallebung Project could see a substantial increase in its resource size and grade, which is likely to positively impact the company's stock price. The confirmation of higher-grade zones and the potential for fast payback of Capex and low Opex for future mining operations at Tallebung could attract investor interest.
Investor Reaction:
Analysts are likely to react positively to the announcement, given the high-grade tin intercepts and the potential for significant resource growth at the Tallebung Project. The results may lead to increased investor confidence in Sky Metals' ability to develop the project and achieve economic mining operations. However, investors will be keenly watching for further updates on the geological models and potential mining studies.
Conclusion:
Sky Metals' latest drilling results at the Tallebung Tin Project underscore the project's growth potential and the company's ability to identify and develop high-grade tin resources. Investors should keep an eye on further updates and potential mining studies that could provide more insights into the economic viability of the project. Sky Metals' strategic response to these promising results will be crucial in maintaining and enhancing investor confidence.