Stellar Resources Ltd (ASX:SRZ) has intersected high-grade silver-lead mineralisation from its phase one drilling program at the Montana No.1 mine near Zeehan in Tasmania.
Assay results for ZM141A — the first-ever hole drilled beneath Montana No. 1, which is Zeehan’s largest historical silver-lead mine — have confirmed the presence of very high-grade silver-lead-zinc fissure veins, 90 metres below the deepest historical mine workings.
The best intersections include:
- 1.2 metres at 31.8 oz/t silver, 23.9% lead, 0.4% zinc and 0.1% copper from 423 metres;
- 0.4 metres at 15.4 oz/t silver, 12.2% lead and 4.6% zinc from 411 metres; and
- 0.6 metres at 3.8 oz/t silver, 3.6% lead and 0.4% zinc from 239 metres;
In addition, assay results from hole ZO142 — the pioneer hole drilled beneath the historical Oonah silver-lead mine — confirm multiple zones of lower grade tin mineralisation continue about 70 metres below the Oonah inferred resource.
Potential to further extend Oonah's tin resource
Commenting on the findings, Stellar executive director Gary Fietz said: “The very-high grade silver-lead-zinc results from ZM141A ... highlights the potential for high-grade silver-lead-zinc mineralisation on Stellar’s tenements in the Zeehan Mineral Field to complement its flagship Heemskirk Tin Project, the highest-grade undeveloped tin resource in Australia and second highest globally.
“We are also encouraged by the intersection of tin mineralisation in ZO142, well below the historically significant Oonah Mine, which highlights the potential to further extend the Oonah tin resource.”
Stellar's tenement locations.
Forward plan
To date, Stellar has completed 3,291 metres of drilling, with four holes completed and two holes in progress as part of the phase one drilling program.
The first Zeehan Western drill hole, dubbed ZW145, is currently in progress.
So far, it has excavated 170 metres deep and is yet to reach its targeted depth.
The second Oonah drill hole, known as ZO144, has been completed to 398 metres deep, with mineralisation observed and the presence of tin confirmed by anomalous handheld XRF results.
At the Heemskirk Tin Project, the second Severn drill hole, named ZS143, is currently 805 metres deep, with zones of mineralisation logged over three intervals.
The hits run for a collective 27 metres between 550 metres and 595 metres and lie roughly 120 metres down-dip of the Severn mineral resource.
Assay results for drill holes ZS143 and ZO144 are expected in December.