Stellar Resources Ltd (ASX:SRZ) has kicked off its phase 2B drill program at the flagship Heemskirk Tin Project in western Tasmania.
This program includes eight inclined diamond holes across 3,860 metres at Severn, the largest of the Heemskirk tin deposits.
The phase 2B program will focus on infill drilling aimed at increasing Heemskirk’s indicated mineral resource, targeting high-grade-thick mineralisation in two areas of the Severn deposit.
This program is fully funded and is expected to be completed in June of next year.
Meanwhile in northeast Tasmania, results from first-pass stream sediment sampling over the Nabowla exploration target on EL11/2022 have returned low-level anomalous gold and pathfinder elements over a broad area coinciding with a northwest-trending magnetic lineament.
“Fully funded”
Stellar executive director Gary Fietz said: “Our recently commenced Phase 2B program at Severn is aimed at further increasing the Severn indicated mineral resource in advance of the Heemskirk Tin Project pre-feasibility study planned for 2023 H2.
“The program will focus on high grade-thickness zones identified in our recently completed phase 2A program. The program is fully funded and is expected to be completed by June 2023.”
Drill program
The phase 2B program will target high-grade tin mineralisation in two areas of the Severn deposit:
- Down plunge extension of the Northern Severn high grade-thickness zone identified in the recent phase 2A program (six holes).
- Possible Southern Severn high grade-thickness zone up and down plunge of historic high grade-thickness holes ZS110 & ZS110W, possibly extending at depth to historic holes G81 and ZS120 (two holes).
The first hole, ZS155, is making good progress having reached a depth of 379 metres on October 7, 2022.
Meanwhile, the last phase 2A drill hole, ZS152, was completed on September 21, 2022, to a depth of 1,194 metres with drilling continuing well beyond the target depth of 900 metres.
Forward plan
An updated Heemskirk mineral resource estimate incorporating the recently completed phase 2A drilling results is expected to be completed in early-November 2022.
The phase 2B drilling program results are expected to support a pre-feasibility study (PFS) on the Heemskirk Tin Project planned for the second half of 2023, following the completion of the phase 2B drilling program.
The Heemskirk Project capital and operating cost estimates, mining study and scoping study update initially planned to be completed in 2022 Q4 have been deferred due to the current low tin prices.
The timing of commencing these studies will be based on market conditions or may be incorporated into the project PFS planned for the second half of 2023.
Nabowla gold exploration target
During the March quarter, 187 stream sediment samples were taken over the Nabowla gold exploration target on EL11/2020, one of 22 medium to high-priority targets identified on the company’s ELs in northeast Tasmania.
Results from these preliminary stream sediment samples have returned low-level anomalous gold and pathfinder elements over a broad area coinciding with a northwest-trending magnetic lineament.
Furthermore, an infill sampling program of about 20 samples is planned to further refine the target area.