Stellar Resources Ltd (ASX:SRZ, OTC:SLROF) has made strategic executive board changes as it develops the 100%-owned world-class Heemskirk Tin Project on the west coast of Tasmania in a bid to become the next Australian tin producer.
Former non-executive chairman Simon Taylor has been appointed executive chairman and chief executive officer (CEO), while former non-executive director Andrew Boyd has been appointed executive director. Both appointments are effective immediately.
Taylor and Boyd have a strong working relationship with extensive and successful track records in the resources sector, including working at Oklo Resources before it was acquired by B2Gold (NYSE:BTG) Corp in September 2022.
Plan to accelerate work programs
A recent $3.2 million capital raising, that included the participation of cornerstone investor Nero Resource Fund, will allow Stellar to accelerate its work programs at Heemskirk while building up its corporate and technical management team to oversee the transition from explorer to developer.
The new executive board has initiated a thorough review of the Heemskirk Tin Project and recently approved the following work programs to commence:
- Geophysics and detailed geological modelling – to assist in drill targeting indicated resource tonnes and new discoveries adjacent to the current resource.
- Infill drilling program – to increase indicated resource tonnes.
- Metallurgical testwork – to improve recoveries from the 2019 scoping study.
- Environmental Impact Statement – to enable final approval to mine on the granted mining leases.
- Updating the previous 2019 scoping study with the 2023 mineral resource estimate, which totalled 7.48 million tonnes at 1.04% tin for 77,870 tonnes of contained tin).
- Investigate costs and trade-offs to build a standalone project and or the possibility to toll-treat at nearby existing operations.
“I am delighted to take on the executive chairman and CEO roles and to be working closely alongside Andrew as we advance Stellar’s globally significant Heemskirk Tin Project," said Taylor.
"The company has signed off on a detailed work program to advance the project through the next steps of development.”
“With the support of Nero coming onto our register along with other supportive shareholders participating in the recent placement we now have a strong cash balance to confidently accelerate our work programs and look at both options of a standalone plant and the potential to toll treat at nearby infrastructure already in place.
“We look forward to updating the market as drilling and other programs get underway amidst the backdrop of tightening tin supply and rising commodity prices.”
The Heemskirk Project
The Heemskirk Tin Project continues to rank as the highest-grade undeveloped tin resource in Australia and the third globally.
It is in a well-established mining district on the West Coast of Tasmania with access to established infrastructure including nearby water and renewable power, access to the port of Burnie 150 kilometres to the north via sealed highway for export of concentrate and an experienced local market for services, mining, processing and labour.
Heemskirk is 18 kilometres to the southwest of the Renison tin mine, the largest and most productive tin mine in Australia and 10 kilometres east of the Avebury Nickel Mine, which is in receivership and transitioning into care and maintenance.
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