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Multi-mineral explorer Sky Metals Ltd (ASX:SKY) has made new discovery of high-grade tin through drilling at its Tallebung project in central New South Wales, with a drillhole to the south picking up thick intercepts grading 1.02 percent tin, 77.9 grams per tonne of silver and 0.13 percent tungsten from 64 metres.
Crucially, the results reflect mineralisation which is 150 metre step out along strike, and an extension of the tin well beyond earlier drilling, but also outside of the resource envelope, thus representing a significant new discovery.
Not only is the Tallebung deposit now expanded as a result, but the southern strike is now open to further discoveries.
Sky Metals CEO Oliver Davies said the results were an important achievement for the exploration team in their efforts to define the mineralisation at Tallebung.
“To intercept high-grade tin so early in the ongoing drilling program is the result of the great work by the SKY exploration team as we build our geological understanding of the Tallebung tin deposit,” he said.
“The team has also acted very quickly to plan additional infill and extension drillholes around this exceptional new high-grade tin results.
“The expansion of the Tallebung tin deposit with the discovery of a new high-grade tin zone that is open to the south is particularly exciting given the backdrop of a surging tin price the start of this year.”
Sky Metals has been trading at 3.8 cents.
