Stellar Resources Achieves Record High-Grade Tin Intersection at Heemskirk
SRZ (SRZ) Share Update November 2024 Monday 18th
Stellar Resources Reports Record High-Grade Tin Intersection at Heemskirk
Stellar Resources Limited (ASX: SRZ) has announced a significant achievement in its ongoing drilling program at the Heemskirk Tin Project in Western Tasmania, reporting a record high-grade tin intersection at the Severn deposit.
Instant Summary:
- Record high-grade tin intersection at Severn deposit.
- Drillhole ZS166 returned 20.9m @ 1.97% Sn from 431m.
- Significant intersections exceed current Mineral Resource model predictions.
- Mineralisation remains open down plunge.
- 8 out of 24 planned holes completed in the drill program.
Drilling Program Overview
Stellar Resources Limited is currently undertaking a 24-hole drill program at the Heemskirk Tin Project, aiming to upgrade inferred resources to the indicated category and test for extensions to the 2023 Mineral Resource Estimate. The recent results from the Severn deposit have shown promising signs of high-grade mineralisation.
Record Intersection Details
Drillhole ZS166 at the Severn deposit has returned multiple high-grade zones of mineralisation, including a record intercept on a grade * thickness basis (Sn%*m). The standout results include 20.9m @ 1.97% Sn from 431m, with further intersections of 14.8m @ 2.40% Sn from 437.1m, and a peak of 5.9m @ 3.36% Sn from the same depth.
These intersections are within the inferred category of the 2023 Mineral Resource Estimate and have exceeded the predicted grade and thickness, indicating a potential increase in resource estimates in the future.
Progress and Future Plans
To date, 8 holes covering 3600 metres have been completed out of the planned 24-hole, 9500m drill program. The company has three rigs operating on-site and plans to conduct further electromagnetic surveys to explore potential extensions of the mineralisation.
At the Queen Hill deposit, drillhole ZQ165 confirmed a northern extension with a return of 4.0m @ 0.52% Sn from 310m, suggesting further potential for resource expansion.
The record high-grade tin intersection at the Severn deposit is a positive development for Stellar Resources, potentially increasing the value of the Heemskirk Tin Project. This could lead to an upward revision of the project's resource estimates, enhancing the company's attractiveness to investors. The ongoing drilling program and planned surveys indicate a commitment to expanding and upgrading the resource base, which could positively impact the company's stock price.
Investor Reaction:
Analysts are likely to view the record intersection as a strong indicator of the project's potential. The higher-than-expected grades may lead to increased investor interest, particularly as the company progresses with its prefeasibility study and resource expansion efforts. However, investors will be watching closely for the final results of the drilling program and any updates to the resource estimates.
Conclusion:
Stellar Resources' recent drilling results at the Heemskirk Tin Project highlight the potential for significant resource growth. Investors should stay tuned for further updates as the company continues its drilling program and prepares for resource estimate revisions. The project's development into a world-class tin operation could offer substantial returns for stakeholders.