Stellar Resources Ltd (ASX:SRZ) has fielded tin results described as “outstanding” from two infill holes at its flagship Heemskirk Tin Project in Tasmania.
Both holes were designed to extend the Severn deposit’s mineral resource ahead of a planned update, slated for October this year.
The fresh results come as Stellar progresses the broader phase 2A drill program, with 2,057 metres of the 3,130-metre campaign completed to date.
Five of the phase 2A holes are designed to expand the indicated Severn mineral resource while the sixth phase 2A hole (dubbed ZS152) will test the South Severn magnetic and conductivity target.
What are the key findings?
The Tassie-focused tin explorer is particularly excited by results from hole ZS148, which returned the second-best tin intersection on record at Severn on a grade-by-thickness basis.
Specifically, hole ZS148 hit 34.9 metres at 1.01% tin from 333 metres, including 8.6 metres at 1.66% from 333 metres and 12.7 metres at 1.19% from 355.3 metres.
Stellar also says the tin hit is materially thicker than the defined mineral resource interpretation at this location and further delineates a northerly-plunging high tin grade-by-thickness zone in the northern part of the Severn deposit, which will be targeted down plunge by further drilling.
In addition, assay results from ZS149, the second Severn infill hole completed this year, extends the tin mineralisation down-dip of the currently defined mineral resource near the southern margin of the deposit.
The best intersections include 5 metres at 0.73% tin from 372 metres and 2.1 metres at 1.8% tin from 391.1 metres.
Chasing further thick, high-grade zones
Speaking to the findings, Stellar executive director Gary Fietz said: “We are extremely excited by the results from drill hole ZS148, which highlights the potential for further thick, high-grade zones within the mineral resource at Severn, the largest of the Heemskirk Tin Project deposits.
“The phase 2A drill program is progressing well, with all results expected to be incorporated into the mineral resource update in October in preparation for a scoping study update in November.”
What now?
Stellar plans to release its updated Severn mineral resource in October, along with an updated Heemskirk Tin Project mining study and renewed project capital and operating cost estimates.
From here, a newly minted Heemskirk scoping study is scheduled for release in November.
In the meantime, planning is well underway for a phase 2B infill drilling campaign, designed to further extend the indicated mineral resource at Severn and Queen Hill once the 2A program concludes.