Stellar Resources Ltd (ASX:SRZ, OTC:SLROF) has identified multiple electromagnetic (EM) conductors at a recent high-grade polymetallic discovery at its North Scamander Project in northeast Tasmania.
Drill hole NSD005, discovered in September, has similarities with the tin-silver polymetallic systems of the world-class Bolivian Tin Belt.
Assay results from NSD005 at the upper vein-breccia zone returned significant intercepts such as 32 metres at 141 g/t silver, 0.34% tin, 3.8% zinc, 2.0% lead, 77 g/t indium and 19 g/t gallium from 130 metres, including
- 5.0 metres at 495 g/t silver, 1.04% tin, 5.2% zinc, 7.1% lead, 113 g/t indium and 23 g/t gallium from 130 metres; and
- 1.4 metres at 353 g/t silver, 2.29% tin, 14.2% zinc, 8.8% lead, 594 g/t indium and 29 g/t gallium from 159.7 metres.
READ: Stellar Resources confirms high-grade polymetallic discovery at North Scamander in Tasmania; shares up
Upper zone target
Following the discovery, the ASX-listed exploration company completed a downhole electromagnetic (DHEM) survey and a fixed loop electromagnetic (FLEM) survey in and around NSD005 in late October.
A large moderately conductive plate modelled from about 130 metres to 150 metres downhole and extending about 150 metres down-dip over a strike extent of 400 metres corresponded closely to the said high-grade polymetallic discovery in the upper vein-breccia zone.
A 350-metre diamond hole to be called NSD006 has been planned to target the down-dip extension of NSD005.
View of the North Scamander Project, showing the planned drillhole NSD006 in green.
Lower zone target
The results announced in September also included anomalous copper levels of 204.5 metres at 0.05% copper from 369.0 metres at the lower stockwork zone.
A follow-up 500-metre diamond hole to be known as NSD007 has now been planned after the electromagnetic surveys modelled a series of strong conductor plates between 360 metres and 495 metres downhole in NSD005.
These plates extend more than 300 metres down-dip over a strike extent of up to 300 metres, corresponding with the copper discovery.
The Tasmanian Government has awarded Stellar a $70,000 grant under its Exploration Drilling Grant Initiative (EDGI) Round 9 for the follow-up drilling.
About the North Scamander Project.
The project is Stellar’s most advanced exploration target within the Scamander Mineral Field on EL19/2020, where during the 1980s, mining giant BHP (ASX:BHP) drilled four diamond holes and four shallow percussion holes.
Stellar has ‘first mover advantage’ with the majority of the Scamander Mineral Field ground held within EL19/2020, including the North Scamander Project, Pinnacles and multiple other high-quality targets.
Significant historic exploration for tin and base metals has been undertaken on EL19/2020, including extensive soil sampling, stream sediment sampling and drilling defining areas of anomalous tin, zinc, copper, silver and lead mineralisation.
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