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- The latest assay results from Elementos’ (ELT) Oropesa tin project in Spain show extensions to a recently identified shallow zone of tin mineralisation
- The company has been undertaking a resource definition drilling program across the project with 44 drill holes planned for 5,300 metres
- ELT says these results increase its confidence that it’s identified an additional zone of mineralisation not included in the current Mineral Resource Estimate
- Assays are pending for the remaining holes, which the company says will confirm the full extent and grade of the mineralised zone
- Shares have been trading 4.3 per cent higher at 2.4 cents at 4:10pm AEST
Elementos (ELT) says the latest assay results from its Oropesa tin project in Spain extend a recently identified shallow zone of tin mineralisation.
The company has been undertaking a resource definition drilling program across the project with 44 drill holes planned for 5300 metres.
ELT said the latest results from drill hole ADD_22 confirm the continuity of high-grade shallow tin mineralisation at the project.
Specifically, the drillhole returned 26 metres at 0.34 per cent tin from 12.5 metres, including 18 metres at half a per cent tin from 12.5 metres.
Results also included four metres at just under two per cent tin from 74.2 metres, and 12.4 metres at just under one per cent tin from 89 metres which included 9.3 metres at 1.25 per cent from 89 metres.
Earlier this month, the company reported two intercepts at the project it deemed significant which included 33.2 metres at 0.3 per cent tin from 2.9 metres and 9.1 metres at 0.22 per cent tin from 22.2 metres.
Now, CEO Joe David said the latest assays increase the company’s confidence that it has identified an additional high-grade zone of mineralisation not included in the current Mineral Resource Estimate.
“The results from this drill hole confirms along-strike extensions to the shallow mineralisation reported in earlier announcements, with results likely to be included in the upcoming Mineral Resource update for Oropesa.”
Assays from the remaining four drill holes are pending and the company said once received, will assist in confirming the full extent and grade of the mineralised zone.
Moving forward, the company is looking to complete a new geological resource model and convert resources from inferred to indicated category.
Additionally, in respect to an economic study released in May, the company is collecting suitable samples for additional metallurgical test work recommended to optimise the tin flotation circuit and optimise the ultra-fine gravity tine recovery circuit.
Shares were trading 4.3 per cent higher at 2.4 cents at 4:10pm AEST.
