- Specialty Metals International (SEI) has identified high-grade structural zones over 1.2 kilometres at its Mt Carbine Project in Queensland
- The company re-assayed historical drill cores to evaluate the potential to develop an underground mine targeting high-grade tungsten mineralisation
- Pleasingly, this work identified five major high-grade veins that contain most of the tungsten mineralisation
- The veins were located within the Main Pit and Dyke West Zones, which make up the 1.2-kilometre strike
- SEI is now consulting with the Department of Natural Resources, Mines and Energy to conduct underground testing
- Company shares are up 3.70 per cent and are trading for 2.8 cents
Specialty Metals International (SEI) has identified high-grade structural zones over a 1.2-kilometre strike at its Mt Carbine Project in Queensland.
The company re-assayed historical drill core — including 154 intercepts from 43 historical holes — to evaluate the potential to develop an underground mine targeting King-Vein-style mineralisation.
Pleasingly, relogging the historical core has identified more than 30 veins which include five major high-grade veins that contain most of the tungsten mineralisation.
SEI divided the ore body into two zones: the Main Pit and Dyke West. Both zones showed high-grade intervals that extend for 750 and 450 metres, respectively.
“What has always been of interest was the historical miner’s ability to produce significant quantities of tungsten by mining these high-grade veins. The veins have now been traced through the deposit within the Dyke West extension and provide us with an alternative mining concept currently under review,” Interim CEO and Senior Technical Advisor Kevin MacNeill said.
The five major veins encountered in the Main Pit Zone are Iolanthe, Bluff, Wayback, Johnson and Dazzler — all of which contain high-grade shoots above a one per cent grade. These veins were the focus of previous underground activity conducted by historical miners.
The Dyke West Zone wasn’t included in previous underground examinations and extends the deposit for another 450 metres to the west of the Main Pit Zone. Three main veins were intersected have been linked to extensions for the Iolanthe, Bluff and Johnson veins. These three veins host most of the mineralisation at Mt Carbine.
“The mining of such high-grade veins, in combination with the already existing processing infrastructure, has the potential to make Speciality Metals a world class and low-cost tungsten producer,” Kevin stated.
Specialty Metals has begun consulting with the Department of Natural Resources, Mines and Energy on a plan to reopen the decline for further underground testing.
Company shares are up 3.70 per cent and are trading for 2.8 cents at 1:46 pm AEDT.