- Stellar Resources (SRZ) has lodged two additional Exploration Licence applications for an area in northeast Tasmania
- The EL applications cover 240 square kilometres of land, containing highly prospective gold exploration targets
- In September 2020, Stellar Resources lodged ten other applications, covering a 2,294 square kilometre area within the same region
- The first ten applications should be granted in June, with the next two applications to follow later in 2021
- Stellar Resources is in the grey and trading at 2.6 cents per share
Stellar Resources (SRZ) has lodged two additional exploration licence (EL) applications for an area in northeast Tasmania.
The applications, which were lodged by Stellar Resources’ subsidiary, Tarcoola Iron, have now been registered by Mineral Resources Tasmania (MRT).
The EL applications cover 240 square kilometres of land, containing highly prospective gold exploration targets. In particular, the area is highly prospective for Victorian-style Orogenic Gold, as well as Intrusive Related Gold Systems (IRGS).
Stellar’s two latest application areas contain one recorded historic gold occurrence and two recorded historic tin occurrences.
These are not the first exploration licence applications that Stellar Resources has lodged in this region. In September 2020, the company lodged ten other EL applications, covering a 2294-square-kilometre area in northeastern Tasmania.
Combined, these ten application areas contain 76 recorded historic gold occurrences and 23 recorded historic tin occurrences.
Stellar Resources is still waiting for the first ten applications to be granted, and expects this to occur in June 2021. The two applications lodged today are likely to be granted much later in the year.
Stellar Resources’ Technical Director, Gary Fietz, commented on the company’s plans for exploration after the applications are granted.
"The two new exploration licence applications are an important addition to our ten previous applications lodged in September and contain a number of further desktop orogenic and IRGS gold exploration targets which have been recently identified by Stellar’s technical team using a full GIS targeting capacity that has recently been established," he said.
"We hope to have the initial ten exploration licences granted by June, and are looking forward to soon being able to commence on ground exploration for Victorian-style gold and IRGS gold exploration targets in relatively under-explored north-eastern Tasmania within the continuation of the Victorian Western Lachlan Fold Belt," he added.
Stellar Resources is in the grey, trading at 2.6 cents per share at 3:58 pm AEDT.