Join our daily newsletter At The Bell to receive exclusive market insights
- Rafaella Resources (RFR) has received initial assay results from the 2021 diamond drilling program at the Santa Comba tungsten and tin project in Spain
- The aim of this drilling program is to expand the existing mineral resource estimate and convert the inferred resource to measured and indicated
- So far 22 holes have been drilled and results have been received for three, which saw grades peak at 3.90 per cent tungsten trioxide and 4731 parts per million tin
- Drilling is expected to wrap up by the end of April, and an updated JORC mineral resource estimate is planned for Q2 2021
- Rafaella is down 4.17 per cent on the market and shares are trading at 11.5 cents
Rafaella Resources (RFR) has received initial assay results from the 2021 diamond drilling program at the Santa Comba tungsten and tin project in Spain.
The primary aim of this drilling program is to better define and expand the existing mineral resource estimate of 10.6 million tonnes at 0.17 per cent tungsten trioxide and 154 parts per million (ppm) tin.
Rafaella is also aiming to convert the inferred resource to measured and indicated, expand the near-surface resources and confirm high-grade mineralisation.
So far 22 diamond holes, totalling around 3190 metres, have been drilled at Santa Comba, and Rafaella has received results for three.
Best results include 1.5 metres at 3.90 per cent tungsten trioxide and 4731 ppm tin from 34.25 metres and 1.5 metres at 1.68 per cent tungsten trioxide from 50.20 metres.
“These results will be fed into the mine plan and should be immediately accretive to the project, enhancing shareholder value and building a sustainable development for the future,” Managing Director Steven Turner said.
Results for the remaining holes are pending and will be reported on in due course.
Drilling is expected to wrap up by the end of April and an updated JORC mineral resource estimate is planned for Q2 2021.
Rafaella is down 4.17 per cent on the market and shares are trading at 11.5 cents at 2:34 pm AEDT.
