Elementos Ltd (ASX:ELT, OTC:ELTLF) has received assays from the final infill hole from its 2022 mineral resource upgrade drilling program at the Oropesa Tin Project in Spain, which show the company has intersected further tin mineralisation zones.
The drilling was designed to upgrade the remaining inferred mineral resources that sit within the 2022 Optimisation Study US$30,000/tonne pit shell and ELT now has the necessary dataset at hand to re-assess the geological confidence of the Oropesa Tin Project mineral resource.
An updated mineral resource estimate is expected to be finalised later this month.
Three significant zones
ELT’s last lot of drilling at drill hole ADD_33 returned three significant zones of tin mineralisation at a 0.1% tin cut-off grade:
- 1.2 metres at 0.51% tin and 1.37% zinc from 86.2 metres;
- 4.6 metres at 0.34% tin and 0.15% zinc from 119.3 metres; and
- 20.2 metres at 0.18% tin and 0.07% zinc from 131.4 metres.
Section depicting drill hole ADD_33 from the 2022 infill drilling where the main aim was to upgrade the inferred mineral resources within the US$30,000/tonne pit shell into a higher confidence resource category.
Managing director Joe David was buoyed by the final assay result, which increased the company’s understanding and level of confidence of the Oropesa mineral resource.
“Our geological team is well underway with updating and modelling this part of the mineral resource, with the aim of upgrading the targeted inferred tonnes that reside within the 2022 Optimisation Study US$30,000/tonne pit shell to the indicated classification,” David said.
“This would result in all tons within the pit shell being available for assessment when modifying the mineral resource (during the feasibility study) to JORC ore reserves.
“Our goal is to have the upgraded Oropesa Tin Project mineral resource estimate released to the market during February, and the DFS completed before mid-year.”