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Stellar Resources

Stellar Resources confirms high grade tin continuity at Heemskirk

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Iron ore and tin explorer Stellar Resources (ASX:SRZ) has reported "excellent" drilling results 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.

Hole ZQ96 provided the best result to date with 21m grading 0.8% tin from 86m, including a high grade 3m zone grading 1.9% tin from 90m.

Holes ZQ93 and 94 show that high grade mineralization extends further west than was demonstrated by historic drilling. Assays indicate that mineralization is in the form of cassiterite.

Peter Blight, CEO, said 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.

The location of the Heemskirk Tin Project is ideal for mining given that the area is well serviced by power, water, transport infrastructure and mining services.

Stellar holds a 60% interest in the Heemskirk Tin Project with joint venture partner Gippsland Limited (ASX: GIP) and can increase its holding to 70% by completing a feasibility study.

Drilling during the early 1980s identified three tin deposits, Queen Hill, Severn and Montana. Queen Hill is the focus of the current phase of exploration as it crops out at the surface, has not been fully drilled out close to the surface, nor has it been fully tested for metallurgical performance.

The current program of six diamond core holes (ZQ93 to ZQ98) is well advanced with five holes completed and a sixth underway. ZQ94, 95 and 97 tested positions within 30m of the surface. ZQ96 and ZQ98 were designed to infill gaps in previous drilling at 80m below the surface.

ZQ96 confirmed the down‐dip extension of the high grade mineralisation identified by historic drill holes ZQ1, 3 and 4.

Once the metallurgical program is complete, Stellar will carry out a detailed review of the project along with an updated resource estimate.

The company's other key projects include the Tarcoola Iron Ore located in central South Australia, Pirie Basin Uranium located north of Cowell in South Australia and Warrior Uranium located west of Tarcoola in South Australia.

Quick facts: Stellar Resources

Price: $0.01

Market: ASX
Market Cap: $4.94 m
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