Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Critical minerals explorer Stelar Metals (SLB) identifies high-grade zinc mineralisation at multiple locations at its Linda Zinc Project in South Australia
  • XRF results included high-grade values between 10 and 25 per cent zinc in one outcrop that extended several metres and additional high-grade readings for zinc and lead from several other location
  • The company has sent its recent surface samples from Linda to laboratories for multi-element analysis and petrology and is awaiting further analysis
  • Stelar confirms exploration work over the coming months will commence late-June and is currently negotiating Native Title Management agreement with the traditional owners
  • Shares in Stelar are up five per cent, trading at 21 cents as of 10:56 am AEST

Critical minerals explorer Stelar Metals (SLB) has identified high-grade zinc mineralisation at multiple locations at its Linda Zinc Project in South Australia.

The project is one of the five highly prospective copper and zinc projects Stelar intends to explore which it has committed in an aggressive exploration program to exploit the world-class mining district.

XRF results included high-grade values between 10 and 25 per cent zinc in one outcrop that extended for several metres as well as additional high-grade readings which also returned high-grade readings for zinc and lead from several other locations.

Simple “zinc-zap” chemical field tests also verified the presence of high-grade zinc mineralisation in outcrop.

The company’s first soil geochemical survey did identify a large coherent zinc soil anomaly which extends 300 metres by 250 metres with values up to 0.7 per cent zinc and up to 675 parts per million (ppm) lead in soils.

This survey was undertaken over the Linda Project with 279 samples collected on nominal 10 to 20-metre centres and analysed using portable XRF analysis.

CEO Colin Skidmore said the company is excited about the potential of the project after finding high-grade zinc mineralisation with its first field program after listing on the ASX.

The company has sent its recent surface samples from Linda to laboratories for multi-element analysis and petrology.

“The large magnitude of the zinc soil anomaly defined by Stelar Metals’ recent survey at Linda also supports our view that geological setting at Linda is considered highly prospective for economic carbonate-hosted zinc,” he said.

“Stelar Metals anticipates receiving the sample assays from our recent fieldwork in coming weeks and recommencing follow-up surveys, mapping and sampling at Linda later this month ahead of planning our first drill program at Linda later this year.”

Stelar also confirmed exploration work over the coming months will commence late-June, and will include extensive geological mapping of the prospective limestone stratigraphy on EL 6263.

Soil surveys will concurrently be undertaken and extended over the entire region with closed spaced infill over anomalous areas.

Currently, the company is negotiating Native Title Management agreement with the traditional owners and once agreed, will commence its Heritage Clearance Surveys and seek drilling approval from the South Australian regulators.

Shares in Stelar were up five per cent, trading at 21 cents as of 10:56 am AEST.

SLB by the numbers
More From The Market Herald
The Market Herald Video

" Dateline Resources (ASX:DTR) releases MRE for Colosseum project, California

Shares in Dateline Resources (ASX:DTR) have spiked in early trade after the company released a fresh…

" ResApp (ASX:RAP) receives FDA clearance for SleepCheckRx

ResApp (ASX:RAP) receives 510(k) clearance from the US Food and Drug Administration (FDA) for its at-home…

" Galileo Mining (ASX:GAL) raises $20.4m to expand drilling at Callisto

Galileo Mining (ASX:GAL) raises $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in…
The Market Herald Video

" Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) to commence flow testing at Walyering-6, WA

Joint venture (JV) partners Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) are gearing up to begin…