Stellar Resources Limited (ASX:SRZ) Reports High-Grade Tin Intersections
Drilling Results
Stellar Resources Limited (ASX: SRZ) reported significant drilling results from its Queen Hill deposit at the Heemskirk Tin Project. Drillhole ZQ173 intersected a 23.3m zone with 2.20% tin, including 4.2m at 3.76% tin and 3.9m at 3.45% tin. The intersection is wider than the existing resource model, indicating potential resource expansion.
Executive Comments
Managing Director Mr Simon Taylor stated, “It’s very encouraging to see another hole at Queen Hill deliver a wider and higher-grade intersection than the existing resource model as we look to convert further resources to the Indicated category. The zone has delivered an outstanding grade at over 2% tin and remains open at depth. Drilling continues with three rigs operating and we are now starting to model the first results from down hole electromagnetic surveys to help guide further drilling as we look to bolster the resource to be updated as part of the Prefeasibility Study. With the highly encouraging Ore Sorting results recently released coupled with the encouraging resource drilling success, we see great opportunities to be able to increase the potential metal production from Heemskirk to well above that outlined in our Scoping Study. Stellar aims to be a 3,000 to 3,500 tpa tin producer over the first 6 to 10 years of production. The PFS studies are working towards this by improving upon the base case scoping study of 1,900 tpa over a 12 year mine life.”
Future Outlook
Stellar has completed 12 of the planned 24 holes in its ~9,500m drilling program. The company is conducting further down hole electromagnetic surveys and plans deeper drilling to test extensions. The Prefeasibility Study is on track for delivery in the second half of 2025.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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