Elementos Limited (ASX: ELT) could be on track to increase existing JORC Resources at the Cleveland Project in Tasmania.
Consultants from MiningOne have identified an Exploration Target tonnage has been defined in a range of 3 to 16 million tonnes, containing between 20,000 and 110,000 tonnes of tin metal.
The grade range estimate is from 0.6% tin and 0.2% copper to 0.7% tin and 0.2% copper, and is in-line with already defined resources.
This could lift the existing JORC Indicated and Inferred Resource of 48,000 tonnes of tin and represents the first step towards extending the project’s mine life and defining target areas for future drilling.
The company is working with MiningOne to evaluate a Production Target based on this Exploration Target for incorporation in the PFS, which is nearing completion.
As part of the study, drilling priorities have been established, some of which are from surface and others are from underground.
At this stage, it is not the company’s intention to commence a new drilling program in the pre-development phase to define any new resources.
It is intended any new drilling program would be undertaken during the operational phase using cash generated from operations.
Northwest Tasmania is a world-class minerals district and host to significant historic lead-zinc-silver mines including Hellyer, Roseby and Que River, all within 40 kilometres of the Cleveland tenements.
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