New Age Exploration Limited (ASX:NAE) managing director Gary Fietz speaks to Proactive Investors about progress with its flagship Redmoor Tin-Tungsten Project in Cornwall, UK.
Rigs are positioned onsite, ready to drill seven holes totaling around 4,000 metres. “The drilling should take place between June and October, and we’ll have some results out progressively throughout that period. And we’re going to do a resource update before the end of the year also… In addition to our 4.5 million tonne resource at Redmoor, we’ve got a 4 to 6 million tonne exploration target,” says Fietz.
Fietz adds, “we’ve already shown that Redmoor sits in the top five highest grade tin and tungsten deposits in the world, and in fact in the top three undeveloped deposits. So it’s a fantastic project in terms of its grade, and we have already demonstrated that, what we really need to do now is demonstrate that the project is a world-class sized deposit as well as world-class grade deposit. The economic studies that we’ve recently completed on the project have been very encouraging.”