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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	SRZ
Latest Price:	0.08 (0.00%)
52-week High:	0.22
52-week Low:	0.07
Market Cap:	8.81M

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Stellar Resources Full Stellar Resources profile here

Stellar Resources (ASX: SRZ) is focused on developing its high grade Heemskirk Tin Project located close to infrastructure near Zeehan in Tasmania.

Stellar Resources released a JORC Indicated and Inferred Resource of 4.4 million tonnes grading 1.1% tin or 49,000 tonnes of contained tin. This ranks the project as the highest grade undeveloped tin deposit in Australia. Positive metallurgical test work, combined with the JORC resource, has allowed Stellar to progress Heemskirk to the scoping study stage.

Stellar Resources paid A$250,000 on Robin Rise option exercise

Wednesday, September 01, 2010

Stellar Resources (ASX: SRZ) has received A$250,000 from Western Plains Resources (ASX: WPG) as a result if WPG exercising its option under the Robin Rise Option Agreement, as announced in a release dated 9 September, 2009.

On receipt of the payment, Stellar has agreed to transfer EL 4525 Robin Rise and ELA 339/09 Lake Woorong, near Coober Pedy in South Australia, to WPG’s wholly owned subsidiary Southern Coal Holdings Pty Ltd.

Stellar retains a royalty over both ELs of $0.60/tonne of coal or iron ore mined. WPG is looking at potential development options for the Penrhyn coal deposit located within EL 4525.

If any of these are carried through to production, Stellar will receive significant royalty payments without the need to outlay capital or take on risk.

In addition, Stellar has a right to acquire a 49% joint venture interest in any mineral resource, other than coal or iron ore, identified by Southern Coal Holdings on these tenements.

Peter Blight, CEO, said the sale of the Robin Rise tenements and any other long‐dated exploration properties is in keeping with Stellar’s strategy of recovering value for nonstrategic assets.

It also allows the company to focus on its key South Australian iron ore and Tasmanian tin and base metal projects where it believes that greater value can be delivered to shareholders in the next two to three years.

Stellar reported "excellent" drilling results yesterday from its Heemskirk Tin Project, located north of Zeehan on Tasmania’s west coast.

Drilling at the near surface Queen Hill deposit has confirmed continuity of high grade tin mineralization over potentially mineable widths.

Drilling and assaying will be completed in September and metallurgical test work will be conducted on Queen Hill Tin Lode mineralization to determine process route options. This work should be completed by November.

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