- Elementos (ELT) has intersected up to 12.9 per cent tin at its Oropesa Tin Project in Spain
- Drilling began in September with 48 holes planned to increase the project’s resource and convert the existing inferred resources to indicated
- Elementos is also aiming to test additional near-surface resources identified via induced polarisation geophysical anomalies
- Only 42 holes were initially meant to be drilled, however, more were added to confirm shallow tin resources, and more may be added based on results
- Elementos will report on results for the remaining holes in due course
- Shares in Elementos are up a healthy 16.7 per cent on the market and are trading at 1.4 cents
Elementos (ELT) has intersected up to 12.9 per cent tin from its Oropesa Tin 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.
Elementos began drilling in September with 48 holes, for 5000 metres, planned to increase the project’s resource and convert the existing inferred resources to indicated.
The company is also aiming to test additional near-surface resources identified via induced polarisation geophysical anomalies.
Only 42 holes were initially meant to be drilled, however, more were added to confirm shallow tin resources.
Based on results, the program may be further extended beyond the planned 48 holes.
Best new grades include 31.1 metres at 1.49 per cent tin from 113.3 metres including one metre at 12.9 per cent tin from 133.6 metres and 1.4 metres at 8.02 per cent tin from 135.8 metres.
“The latest drilling results from Oropesa represent some of the highest tin grades ever reported at the project and continue to support our great confidence in the asset,” Chairman Andy Greig stated.
Elementos will report on results for the remaining holes in due course.
Shares in Elementos are up a healthy 16.7 per cent on the market and are trading at 1.4 cents at 11:11 am AEDT.