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Market: ASX
Sector: General Mining
EPIC: SRZ
Latest Price: A$0.09  (0,00%)
52-week High: A$0.19
52-week Low: A$0.07
Market Cap: A$18.99M
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Stellar Resources
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.

Pdf

Stellar Resources looks to complete Heemskirk Tin Project Scoping Study in June quarter

11th May 2011, 12:24 am

Stellar Resources’ (ASX: SRZ) joint venture partner Gippsland (ASX: GIP) (FRA: GIX) has updated the market on quarterly activities at the Heemskirk Tin Project in Tasmania.

The JV at Heemskirk will target the completion of a scoping study, a metallurgical update and an exploratory drilling update for the June 2011 quarter.

Highlights from the March quarter at Heemskirk include a JORC Indicated and Inferred Resource of 4.4 million tonnes at 1.1% tin with 49,000 tonnes of contained tin for the Queen Hill, Montana and Severn deposits within the Heemskirk.

The Queen Hill deposit with 1.6 million tonnes at 1.2% tin is classified as an Indicated Resource and all tin deposits remain open at depth. The Montana and Severn deposits have been classified as Inferred.

Further highlights include extensional drilling at Heemskirk adding lead and silver to the target alongside positive metallurgical test work results and the commencement of a scoping study.

Stellar noted company targets for the coming quarter would include uranium exploration results from other JV partners and the identification of drilling targets by JV partner AngloGold Ashanti (NYSE: AU) (JNB: ANG) on South Australia gold copper properties.

Other quarterly highlights for Stellar were the encouraging copper and tin intersections at Gourlays, the UraniumSA (ASX: USA) Plumbush Inferred Resource continuing into Stellar’s JV ground and Renaissance Uranium's (ASX: RNU) commencement of drilling at the Pirie Basin JV tenement.

The company held $3 million in cash at 31 March 2011 while Phillip Harman was appointed to non-executive chairman and Tom Whiting joined the board as a non-executive director.

Stellar holds a 60% interest in Heemskirk with Gippsland holding the remaining stake, where Stellar can increase its holding to 70% by completing a Feasibility Study.

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