- Tin explorer and producer Elementos (ELT) has launched exploration drilling at its flagship Oropesa Project in Spain
- Approximately 5000 metres of drilling has been planned to expand and enhance the JORC mineral resource which currently stands at 67,520 tonnes of tin
- Elementos will aim to convert the existing inferred resource into indicated and confirm the near surface mineralisation
- The company will also aim to test for near surface resources identified via induced polarisation geophysical survey anomalies
- Elementos has ended the day in the grey with shares trading for 0.5 cents each
Elementos (ELT) has launched exploration drilling at its flagship Oropesa Project in Spain.
Oropesa is one of the world’s largest undeveloped, open-cut mineable tin deposits with a prospective annual production of 2440 tonnes of tin metal across a 14 year mine life.
Approximately 5000 metres of drilling has been planned to expand and enhance the JORC mineral resource which currently stands at 67,520 tonnes of tin.
Work will aim to convert the existing inferred resource into indicated to improve the waste-to-ore stripping ratio and confirm the near surface mineralisation that is excluded from the geological resource model.
Elementos will also aim to test for near surface resources identified via induced polarisation geophysical survey anomalies.
“The economic study was positive and we’re confident that the tin resource at Oropesa could be far greater than currently known,” Chairman Andy Greig said.
“Following the completion of the drilling program and wider optimisation works, a new JORC mineral resource will be prepared and Oropesa will be ready to progress into the feasibility study stage,” he added.
Sondeos & Perforaciones Industriales Del Bierzo, SA has been appointed as the drilling contractor.
Elementos has ended the day in the grey with shares trading for 0.5 cents each in a $12.42 million market cap.