Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Stellar Resources Ltd (ASX:SRZ, OTC:SLROF).
The company has received a record high-grade tin intersection of 20.9 metres at 1.97% tin from the Severn deposit at its Heemskirk Tin Project in Western Tasmania.
The intersection includes 14.8 metres at 2.4% tin and 5.9 metres at 3.36% tin, making it the best recorded based on grade thickness. At Queen Hill, drill hole ZQ165 identified a northern extension with 4 metres at 0.52% tin.
The company has completed 8 of 24 planned drill holes and mineralisation at Severn remains open down plunge. Geophysical surveys will commence in December to support resource expansion.
Stellar is progressing prefeasibility and baseline environmental studies, with a focus on upgrading inferred material to indicated resources.
A recent scoping study confirmed a 10-year mine life based on indicated resources, with further resource growth anticipated in a 2025 update. The company is operating three drill rigs onsite to refine and expand the resource base and plans a downhole electromagnetic survey next month.