Elementos Ltd (ASX:ELT, OTC:ELTLF) continues to intersect new zones of near-surface tin mineralisation from diamond drilling at its flagship Oropesa Tin Project in Spain.
The latest results follow assay data from 40 drill holes, with assays previously reported from this program and one hole outstanding.
New assay results from three drill holes confirm the thickness of mineralisation to a depth of about 190 metres below the surface, with strong intersections including:
- 30.6 metres at 0.22% tin from 22.2 metres;
- 19.5 metres at 0.18% from 70.3 metres;
- 32.3 metres at 0.20% from 161.7 metres; and
- 15.8 metres at 0.44% from 108.4 metres.
Importantly, the updated Oropesa mineral resource estimate is on track for delivery in October 2021.
New mineral resource estimate
Elementos CEO Joe David said: “We are nearing the end of the data collection phase of a very successful drilling program at Oropesa.
“These three holes, drilled at the edges of the recently identified new shallow tin zone, confirming the continuity and depth extent of the new zone of mineralisation.
“The results will play an important role in upgrading the confidence of this zone in the new mineral resource estimate to be released next month.
“We look forward to receiving the data from the one remaining drill hole to complete this phase of the program.”
Shares have been as much as 14.4% higher to A$0.024.
Drilling results
Drill hole Hole Expn_53A has confirmed the thickness of the recently identified shallow tin mineralisation zone whilst holes Expn_008 and Expn_009 have confirmed additional mineralisation and continuity down to a depth of about 190 metres below surface.
Other strong intersections include:
- 9.1 metres at 0.16% tin from 62 metres;
- 10.2 metres at 0.25% from 73.4 metres;
- 1.8 metres at 0.33% from 85.5 metres;
- 6.2 metres at 0.19% from 92.6 metres;
- 8.1 metres at 0.26% from 96.6 metres;
- 2.6 metres at 0.15% from 140.6 metres;
- 5.7 metres at 0.12% from 140.5 metres;
- 11.9 metres at 0.18% from 167.7 metres; and
- 12.9 metres at 0.27% from 191.4 metres.
About Elementos
Elementos is on the path to be a major global tin producer to support an electric world with its two world-class projects.
The company is focusing primarily on the Oropesa Tin Project in Spain, which was acquired in January 2020 and is regarded as one of the world’s largest undeveloped, open-cut mineable tin deposits, with access to world-class infrastructure.
It also owns the Cleveland Tin Project, which is around 80 kilometres southwest of Burnie in the mineral-rich northwest region of Tasmania, Australia.