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New Age Exploration triples Redmoor resource and increases grade

The upgrade is the result of a recent successful 12-hole diamond drilling campaign.

growth concept shown with stairs going up
The contained tin equivalent has been tripled compared to the last March 2018 resource

New Age Exploration Ltd (ASX:NAE) has updated the high grade inferred resource estimate to 11.7 million tonnes at 1.17% tin equivalent at its Redmoor Tin-Tungsten Project in the UK.

Impressively, Redmoor now ranks as the second-highest grade undeveloped tin or tungsten mineral resource in the world on a grade basis.

Furthermore, on a contained metal basis, the Redmoor resource now ranks as the largest undeveloped tin or tungsten underground mining project in the world.

A preliminary mining study is now expected to commence in March 2019 and the metallurgical study underway is well advanced and expected to be complete this month.

The updated Inferred Mineral Resource is 11.7 million tonnes at 0.56% tungsten trioxide, 0.16% tin and 0.50% copper for 1.17% tin equivalent or 0.82% tungsten trioxide equivalent.

READ: New Age Exploration drill results exceed expectations at Redmoor Project

NAE’s director Joshua Wellisch said: “The updated Redmoor Inferred Mineral Resource further establishes the project as a deposit of global significance.

“The 1.17% tin equivalent resource grade places the project in an outstanding competitive position relative to other new tin and tungsten projects around the world.

“The result of the resource update is consistent with the increased grades seen through the 2018 drill program and provides an extremely strong base on which the project will be advanced from this year.”

Progressing towards pre-feasibility

The best route for the advancement of the project towards a pre-feasibility study is now being reviewed.

This work program will be informed by the results of a planned mining study and metallurgical study which is already underway.

These studies will define operating parameters for the future project and thus enable future infill drilling and metallurgical work to be optimised.

Quick facts: New Age Exploration Limited

Price: 0.014 AUD

Market: ASX
Market Cap: $16.62 m

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