- Elementos (ELT) kicks off a fresh round of drilling at its Oropesa tin project in Spain
- While the company is awaiting assay results to finalise an updated MRE for the project, it has identified the potential for extensions to the known mineralisation
- Eight drill holes are planned based on results from a recently-completed ten-hole program and a geotechnical drill program completed last year
- As tin prices surge, Elementos Managing Director Joe David says continuing exploration at Oropesa is exciting
- ELT shares are up 1.49 per cent to 34 cents at 10:27 am AEDT
Elementos (ELT) has kicked off a fresh round of drilling at its Oropesa tin project in Spain.
The eight-hole drilling program has been designed to test shallow extensions to Oropesa’s mineral resource.
Drilling will target the northwest and southeast ends of the deposit, designed based on results from a recently-completed ten-hole infill program and a geotechnical drill program completed last year.
Meanwhile, the company is still waiting on one batch of assay results to finalise an update to the 2021 mineral resource estimate (MRE) and support a definitive feasibility study (DFS) for the project.
According to the company, London Metals Exchange (LME) and Shanghai Futures Exchange (SHFE) tin prices have surged 65 per cent and 56 per cent respectively since November 2022.
As the price of tin rises, Elementos Managing Director Joe David said continuing exploration at Oropesa was an “exciting time” for the company.
“We are advancing rapidly towards completing the DFS and increasing the confidence of the mineral resource estimate,” Mr David said.
“However, Oropesa remains prospective for additional mineralisation, so it’s quite exciting to kick off this exploration drilling program, which will test extensions to our current mineral resource”.
ELT shares are up 1.49 per cent to 34 cents at 10:27 am AEDT.