www.stellarresources.com.au
Stellar Resources (ASX: SRZ) holds two priority advanced resource projects - a major magnetite project located in South Australia and a high grade tin deposit in Tasmania - as well as a number of exploration properties targeting copper, gold, uranium and nickel.
The company's aim is to develop a minimum 5 million tonne per annum magnetite operation based on the completion of a successful feasibility study at Tarcoola iron ore project in central South Australia.
Stellar Resources rides higher on high grade tin zone at Heemskirk
Stellar Resources (ASX:SRZ) has completed its six hole drilling program at the near surface Queen Hill mineralization within the Heemskirk Tin Project in Tasmania, confirming the presence of a high grade tin zone.
The best results were:
- 21.2 metres grading 0.82% tin, including 3.0 metres grading 1.87% tin, from drill hole ZQ96 (as previously reported)
- 5.0 metres grading 1.56% tin from drill hole ZQ98.
Tin mineralisation is open to the northeast and southwest. The tin price of $23,600/t continues to outperform the price of other LME metals, underpinned by strong fundamentals.
The strong price rally reflects reduced supply from Indonesia coupled with a recovery in demand, resulting in a dependence on LME stocks to meet the shortfall.
According to Stellar, LME stocks have halved to 13,600t since November 2009 and further reductions should sustain the LME price in the US$20,000/t to US$25,000/t range – a very healthy level for the Heemskirk Tin project.
Results should allow Stellar to upgrade the historical data base to improve the basis for a modern JORC compliant mineral resource estimate for the Queen Hill deposit.
Stellar holds a 60% interest in the Heemskirk Project with joint venture partner Gippsland (ASX: GIP) and can increase its holding to 70% by completing a feasibility study.
Peter Blight, CEO, said metallurgical test work will be conducted on Queen Hill Tin Lode mineralisation to determine process route options and this work should be completed by November. Also a review and upgrade of the historical resource estimate is due by December.


















