Elementos Ltd (ASX:ELT, OTC:ELTLF)’s five-hole drill program at the Cleveland Tin-Copper Project in Tasmania is now underway.
The exploration campaign is aimed at testing anomalies along strike and to the northeast of the tin-copper-tungsten project’s current resource, as well as another target within the previously mined area.
Elementos will chase up the program with downhole geophysical surveys, which it hopes will support further targeting campaigns in the future.
The ASX-lister is exploring amid favourable tin prices, with the commodity fetching more than US$43,000 a tonne on the London Metals Exchange and around US$52,000 in China’s tin market.
ELT expects to complete the exploration program and report on results in the first half of 2022.
Realising mineralised potential
Elementos managing director Joe David said the proposed 1,230 metres of drilling would target further tin-copper mineralisation along strike of and within a significant gap in the historical drilling and currently defined mineral resources.
“The company is enthusiastic about testing the potential of the exploration targets which have been defined following considerable investigation from our geological team including both desktop and on-ground reconnaissance work programs,” he stated.
“The team has digitised, re-conditioned and re-interpreted mountains of historical geological, geophysical and drilling data to greatly serve our goal of intercepting additional mineralised zones that could redefine the magnitude of the Cleveland Tin-Copper and Tungsten Project.
David went on to say that drilling would test historical self potential (SP) anomalies along strike to the northeast of the current mineral resource.
“The fifth hole is targeting an untested zone that occurs between northeast dipping and southwest dipping limbs of the historical underground mine workings and current mineral resource,” he concluded.
About Cleveland
Elementos’ Cleveland Tin-Copper Project is 80 kilometres southwest of Burnie in Tasmania’s mineral-rich northwest.
It is an historical underground mine site that already has electrical, water and transport infrastructure in place.
Cleveland was operated as an underground mine by Aberfoyle Resources from 1968 to 1986, and the project hosts a JORC-compliant mineral resource and ore reserve.
