Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Stellar Resources (SRZ) is set to restart exploration drilling at the Heemskirk Tin Project in Tasmania
  • The company will focus on four historical mines which have intersected up to 100 ounces of silver
  • Work has restarted due to significant tin prices which peaked at US$28,800 (around A$37,146) in mid-February 2021
  • Stellar will report on the results from this drilling program when they become available
  • Shares in Stellar are up 7.41 per cent and trading at 2.9 cents

Stellar Resources (SRZ) is set to restart exploration drilling at the Heemskirk Tin Project in Tasmania.

The company will focus on four mines which have been subject to historical work and have returned significant high-grade results.

Work has restarted due to significant tin prices which have increased from US$17,000 (around A$21,926) per tonne in October 2020 to US$28,800 (around A$37,146) in mid-February 2021.

“We are excited to be restarting our tin exploration this year which aims to identify new high-grade mineralisation external to the currently defined Heemskirk Tin Project mineral resources,” Technical Director Gary Fietz said.

“Our planned holes are targeted at depths below where historically mined silver-lead lodes are expected to transition to tin mineralisation although there is also potential for deeper high-grade silver-lead lodes to be intersected,” he added.

Oonah Mine

Two diamond holes will be drilled at the Oonah Mine to target tin and silver-lead lode extensions below historical drilling which remains open at depth.

It has two million ounces of recorded silver production and an inferred resource of 0.59 million tonnes at 0.9 per cent tin, 0.8 per cent copper, 0.1 per cent lead and 0.1 per cent zinc.

Montana No. 1 Mine

Two diamond holes have been planned to be drilled below the Montana silver-lead lodes which have been mined to 200 metres.

The Montana No. 1 Mine was once the largest and most important mine in the area, having produced 7.1 million ounces of silver and 49,580 tonnes of lead.

The mine is considered to be a favourable drilling target as it contains eight silver-lead vein lodes.

Zeehan Western Mine

Two diamond holes will also be drilled below the Zeehan Western silver-lead lodes which have previously been mined to a depth of 300 metres.

It has produced 4.8 million ounces of silver and 26,300 tonnes of lead, with silver grades ranging from 86 ounces per tonne to 100 ounces per tonne.

It also contains 11 silver-lead vein lodes and is considered an attractive drilling target.

Zeehan Queen No. 4 Mine

One diamond hole will be drilled below the Zeehan Queen No. 4 and Clarkes lodes where previous work mined to a depth of 70 metres.

Before closing in 1905, it produced two million ounces of silver and 16,532 tonnes of lead.

Stellar will report on the results when they become available.

Shares in Stellar are up 7.41 per cent and are trading at 2.9 cents at 1:50 pm AEDT.

SRZ by the numbers
More From The Market Herald

" Brightstar Resources (ASX:BTR) continues to see high grade gold at Cork Tree

Brightstar Resources (ASX:BTR) continues to see high grade gold results at its Cork Tree Well (CTW),…

" OZ Minerals (ASX:OZL) posts record FY revenue of $2.1b

OZ Minerals (OZL) delivers on 2021 production and costs; record $2.1 billion revenue.

" Thor Mining (ASX:THR) updates on lithium targets at Ragged Range Project

Several lithium exploration targets have been identified at Thor Mining's (ASX:THR) Ragged Range Project in Pilbara,…
North Stawell Minerals (ASX:NSM) - Non Executive Chairman, Jerry Ellis

" North Stawell Minerals (ASX:NSM) extends Gellatlys gold trend to 3.5km

North Stawell Minerals' (ASX:NSM) recent aircore drilling program has extended the Gellatlys gold trend to 3.5…