viewTerramin Australia Limited

Terramin Australia delivers maiden resource near Angas Zinc Mine in South Australia


Terramin Australia (ASX: TZN) has achieved a maiden resource for the Angas Sunter deposit of 375 thousand tonnes at 5.4% zinc plus lead and 15 grams per tonne (g/t) silver, in close proximity to its Angas Mine.

The resource highlights the prospectivity of the 1,160 square kilometres of Terramin controlled exploration leases surrounding its existing operations.

The total resource includes an Indicated Resource of 127 thousand tonnes at 8.01% zinc plus lead and 21 g/t silver and an Inferred Resource of 248 thousand tonnes at 4.1% zinc plus lead and 13 g/t silver.

The resource is contained within five sub-parallel mineralised zones and has been estimated within a mineralisation model defined by and reported at a 2% combined zinc and lead cut off.

The Angas Zinc Mine is located two kilometres from the rural town of Strathalbyn, 60 kilometres from Adelaide in South Australia.

A drill program has been ongoing since November 2010, in which a total of 20 drill holes have been completed, and was aimed at delivering the maiden resource.

The resource has been defined within close proximity to the Garwood shoot which is currently being mined at Terramin's existing operations at Angas.

There is potential to extend the Angas mine life in line with Terramin’s strategic objective to grow its production pipeline through focussed exploration.

The company is planning further exploration in the near term targeting the delivery of additional resources suitable to extend the Angas mine life.

The 400,000 tonnes per annum operation at Angas was successfully commissioned in July 2008 and reached nameplate capacity in the final quarter of 2009.

Zinc concentrate is trucked 70 kilometres to Port Adelaide for shipment to Asia; lead-copper-gold-silver concentrate is trucked 280 kilometres to the Nyrstar (EBR:NYR) owned Port Pirie lead smelter for further processing within South Australia.

Quick facts: Terramin Australia Limited

Price: 0.042 AUD

Market: ASX
Market Cap: $88.9 m

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