Stellar Resources Ltd (ASX:SRZ) is a step closer to updating the Heemskirk Tin Project’s mineral resource estimate (MRE), with high-grade tin identified in resource definition drilling at the Severn deposit, the largest of the flagship project.
The company encountered lower grade tin – as predicted by Stellar’s resource model – outside of the Northern Severn high grade-thickness zone of 3.3 metres at 0.58% tin from 270 metres and 11.3 metres at 0.13% tin from 301 metres of depth.
The upper regions of the Central Severn deposit generated better results, up to 13 metres at 0.65% tin from 250 metres with higher grade components of 3 metres at 1.82% tin and 4 metres at 0.64% tin.
Results will add to resource update
“The results from these holes are expected to contribute to the Phase 2B drilling program objective of increasing the Severn indicated mineral resource when the MRE is updated in late August,” Stellar Resources executive director Gary Fietz said.
“Importantly, holes ZS160 and ZS161 are expected to extend the indicated mineral resource upwards in the shallow upper part of the Severn deposit.
“The pending results of the final two Phase 2B holes are also expected to contribute to increasing the Severn indicated mineral resource.”
Drilling in the southern area of Severn also generated promising results inside the 'potential Southern Severn high-grade thickness zone' as SRZ terms it, including 6 metres at 0.44% tin from 233 metres and 5 metres at 0.89% tin from 265 metres.
Assays from two holes are still pending; Stellar expects to receive the results in late July and mid-August respectively.
Once all results from this Phase 2B drilling program have been received, SRZ will incorporate them into an updated mineral resource estimate for Heemskirk – targeted for late August – which together will support a pre-feasibility study (PFS) for the project, scheduled for the second half of this year.