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Stellar Resources receives Tasmanian Government funding for South Severn and Scamander tin exploration

Last updated: 11:12 03 Aug 2022 AEST, First published: 10:47 03 Aug 2022 AEST

Stellar Resources Ltd - Stellar Resources Ltd receives Tasmanian government funding for South Severn and Scamander tin exploration campaigns

Stellar Resources Ltd (ASX:SRZ) has been awarded three exploration drilling co-funding grants from the Tasmanian Government totalling $133,750.

The grants were awarded under the seventh round of the Exploration Drilling Grant Initiative (EDGI) program for exploration drilling of the South Severn geophysical target and the North Scamander and Pinnacles tin-base metals projects.

Three exploration grants

The company has received $50,000 in funding for the South Severn hole ZS152, where it is testing a large magnetic and approximately coincident conductive target to the south of the Severn tin deposit identified in geophysical modelling.

A further $50,000 has been allocated for the North Scamander tin-base metals project. Two diamond drill holes are planned here for 2023 to test strong stream sediment and soil tin geochemistry anomalies and surface rock chip results up to 1.07% tin generated by an outcropping mineralised gossan over the North Scamander prospect coincident with a significant magnetic anomaly.

Historic drilling intersected intervals of pyrrhotite-cemented hydrothermal breccia associated with intense magnetite alteration of the wall rocks and strongly anomalous tin, copper and zinc values.

Lastly, the Pinnacles tin-base metals project has received a $33,750 grant for one diamond drill hole planned for 2023 to test strong stream sediment and soil tin geochemistry anomalies generated by widespread outcropping sheeted quartz-cassiterite veins which correspond to a low intensity magnetic anomaly.

Historic drilling above the target depth intersected up to 0.4% tin in sheeted quartz-cassiterite veins.

Executive director Gary Fietz said: “We are very pleased that the Tasmanian Government has shown its support for co-funding of drilling costs of our Severn south geophysical target hole ZS152 underway at Stellar’s flagship Heemskirk Tin Project and for our planned drilling next year of advanced tin and base metals targets on our other projects within EL19/2020 in north east Tasmania.”

Initiative encouraging exploration

The EDGI is an important initiative of the Tasmanian Government designed to encourage exploration in the state. It represents an acknowledgement by the Tasmanian Government that mining is an important sector and underpins the mining friendly credentials of Tasmania.

Stellar has been awarded three out of a total of 17 EDGI Round 7 grants recently awarded by the Tasmanian Government, the equal highest number of Round 7 grants awarded to any company.

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