Stellar Resources Unveils Promising Tin Drilling Results at Queen Hill
SRZ (SRZ) Share Update December 2024 Wednesday 4th
Stellar Resources Discovers High-Grade Tin at Queen Hill
Stellar Resources Limited (ASX: SRZ) has announced promising drilling results from its Queen Hill deposit, part of the Heemskirk Tin Project in Tasmania, revealing high-grade tin mineralization that could significantly enhance the project's value.
Instant Summary:
- Drillhole ZQ170 reveals 17.0m at 1.79% Sn, with sections up to 6.08% Sn.
- High-grade zinc, lead, and silver also discovered, with 18.1% Zn, 17.6% Pb, and 379g/t Ag.
- Mineralization remains open and further drilling is underway.
- Nine holes completed out of a planned 24-hole program.
Drilling Success at Queen Hill
Stellar Resources Limited has reported significant progress in its drilling campaign at the Queen Hill deposit, part of the Heemskirk Tin Project in Tasmania. The company announced that drillhole ZQ170 has intersected multiple high-grade zones of tin mineralization, with the most notable being a 17.0-meter section grading at 1.79% Sn, including a 1.5-meter interval at an impressive 6.08% Sn.
The drilling results are part of a broader 24-hole diamond drilling campaign aimed at upgrading the resource classification from Inferred to Indicated and testing the potential for resource expansion. To date, nine holes have been completed, covering 4,340 meters.
Additional Mineral Discoveries
In addition to tin, the drilling has uncovered high-grade zinc, lead, and silver mineralization, with one interval reporting 18.1% Zn, 17.6% Pb, and 379g/t Ag. These results suggest a polymetallic system that could add significant value to the project.
Stellar Resources is continuing to explore the potential extensions of the mineralization, with further drilling planned to test the depth and northern extent of the deposit. The company is also preparing for downhole electromagnetic surveys to better define the resource boundaries.
Future Plans and Prefeasibility Study
The current drilling program is part of a prefeasibility study (PFS) intended to advance the Heemskirk Tin Project towards development. The study will incorporate metallurgical testing and ore sorting trials to optimize the project's economic potential.
Stellar Resources aims to expand the resource base and increase confidence in the project's viability, with the goal of establishing Heemskirk as a leading tin resource in Australia.
The discovery of high-grade tin and other metals at Queen Hill is likely to positively impact Stellar Resources' stock, as it enhances the project's potential and investor confidence. The ongoing drilling and resource expansion efforts could further boost the company's valuation.
Investor Reaction:
Analysts are optimistic about the drilling results, noting the potential for resource expansion and the high-grade nature of the mineralization. Investors are likely to view these developments favorably, given the strategic importance of tin in the global market.
Conclusion:
Investors should keep an eye on Stellar Resources' upcoming drilling results and prefeasibility study updates. The company's efforts to expand and upgrade the Heemskirk resource could significantly enhance its market position and stock value.