Lead: Stellar Resources Ltd (ASX:SRZ) has been awarded four exploration drilling co-funding grants to the sum of $258,500 by the Tasmanian Government under Round Eight of the Exploration Drilling Grant Initiative (EDGI) program, which aims to encourage minerals exploration in the state.
The grants will be used to support exploration drilling projects at four significant sites: North Scamander, Carbine Hill East, Evenden, and Razorback. Each project aims to identify potential tin, base metals and critical minerals deposits.
Executive director Gary Fietz said: “We are very pleased that the Tasmanian Government has shown its support for co-funding of exploration drilling costs on these four priority exploration targets which we plan to drill over the coming year.”
Four significant drilling sites
The North Scamander project, on EL19/2020, will involve drilling a single diamond hole (750 metres) to test a magnetic anomaly. This exploration aims to discover high-grade breccia-hosted or sheeted vein mineralisation containing tin, silver, lead, and zinc, as well as other critical minerals like indium, tantalum, and niobium.
Carbine Hill East, on EL29/2022, will focus on a lead-zinc-copper-silver-gold volcanic massive sulfide (VMS) style deposit. A 220-metre diamond drill hole will target a strong electromagnetic anomaly and coincident zinc and lead soil and rock chip anomalies.
Similarly, the Evenden project on EL29/2022, also within the Mt Read Volcanics, will explore a lead-zinc-copper-silver-gold VMS deposit. A 300-metre diamond drill hole will target a strong electromagnetic anomaly supported by anomalous zinc, lead, and copper rock chip geochemistry results.
On the Southern Extension of Mt Razorback project, SRZ plans to drill a 550-metre diamond hole to test for mineralisation continuity. The primary focus is on tin mineralisation, with potential secondary mineralisation of tungsten, indium, antimony, cobalt, and chromium.
Commitment to Tasmanian mineral exploration
The company is delighted with the grants and plans to initiate drilling on these priority exploration targets in the coming year.
Stellar has been awarded four out of the twelve EDGI Round Eight grants, highlighting the company's commitment to advancing mineral exploration in Tasmania.
The company is now well-positioned to unlock the potential of these promising sites and contribute to the development of critical mineral resources in the region.