- Stellar Resources (SRZ) confirms wide zones of tin mineralisation in a drill hole completed at the Severn deposit, which is part of the Heemskirk tin project in Tasmania
- This hole is the first hole drilled at the deposit under this phase one drilling program, which is targeting new areas of high-grade tin mineralisation
- ZS140 has intersected over 40 metres of cumulative tin mineralisation with grades of up to 2.24 per cent tin
- Drilling is now progressing at the second Severn hole and Stellar says, based on initial observations, it expects the tin mineralisation to be better than in the first Severn hole
- Company shares are down 14.7 per cent to trade at 2.9 cents
Stellar Resources (SRZ) has reported assays from the first hole completed at the Severn deposit as part of a phase one drilling program at the Heemskirk tin project in Tasmania.
The nine-hole diamond drilling program is targeting new areas of high-grade tin mineralisation. Two of the holes are being drilled below the Severn deposit tin resource, and the other seven holes are targeting depth extensions below historical silver-lead mines.
Hole ZS140 confirmed multiple wide zones of tin mineralisation with over 40 metres of cumulative tin mineralisation intersected.
Best results include five metres at 0.76 per cent tin from 777 metres, three metres at 0.87 per cent tin from 797 metres within 10 metres at 0.43 per cent tin from 794 metres and 1.1 metres at 2.24 per cent tin from 855.4 metres.
Executive Director Gary Fietz commented on the phase one drilling program.
“Assay results from our first Severn hole, ZS140, have confirmed multiple wide zones of tin mineralisation located well below the depth of the current resource,” he said.
“Our second hole at Severn, which is currently still in progress, has already intersected zones of mineralisation below the depth of the current resource where, based on logging and handheld XRF readings, we expect the tin mineralisation to be better than in the first Severn hole ZS140.”
At this stage, four holes under phase one drilling have been completed, and the program is ongoing with results expected for two holes later this month.
Stellar’s shares were down 14.7 per cent to trade at 2.9 cents at 1:16 pm AEDT.