Stellar Resources (SRZ.AX) has released an exploration update on its activities at Queen Hill, part of the Heemskirk Tin project in Tasmania, Australia. The program consists of approximately 9,500 meters of drilling in 24 holes, with a focus on completing an infill drill program based on the 2023 resource, while also looking for extensions of the known mineralized zones. The two holes the company reported on last week were drilled in the middle area of the Queen Hill deposit and were designed as metallurgical holes. Hole ZQ176 ended up drilling deeper than initially targeted as the evidence of alteration continued towards the intended depth.
That hole encountered an additional zone of 11 meters of 1.07% tin including a higher grade interval of 4 meters containing 1.71% tin. Hole ZQ 174, which was also drilled for metallurgical purposes, pierced through the deposit at its intended depth and encountered 8.2 meters of 1.62% tin including a higher grade interval of 2.4 meters containing just under 2.7% tin.
The pre-feasibility study on the project should be ready in the second half of this year, and the recent exploration results lend more credibility to the company’s plans and expectations to increase its anticipated production rate to 3,000-3,500 tonnes per year of tin during an initial 10 year mine life.
Disclosure: The author has no position in Stellar Resources. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
