Spanish Drilling To Unlock Further Value
Elementos Limited (ASX: ELT) is seeking to further boost financial returns at its wholly owned Oropesa Tin Project in Spain with a new optimisation programme designed to increase the project’s overall resource, annual production and mine life.
This programme follows the release of our Oropesa Economic Study in May, which positioned the project as a low cost, globally signifcant new tin development with a prospective annual production of 2,440 tonnes of tin-in-concentrate over a 14-year mine life.
Elementos Chairman Andy Greig said that optimisation works presented a strong opportunity to extract considerably more value from the project which is based on a simple, open cut mining and conventional processing model in a first world country with well-developed infrastructure.
“Our goal is to create value-uplift potential for shareholders by enhancing the economics of the project as it has advanced towards full feasibility and development,” Mr Greig said.
“We’re confident that the tin resource at Oropesa could be far greater than currently known so we’re re-examining previous drill data, planning new drilling, and incorporating a large low-grade tin mineralised halo around the existing resource.
“Following the completion of these optimisation works, a new JORC Mineral Resource will be prepared and Oropesa will be ready to progress into the feasibility study stage and finalise environmental permitting,” he said.
Mr Greig added a number of other optimisation programmes aimed at improving the metallurgical performance of the project will be implemented during feasibility.
Elementos believes through geochemical and geophysical studies, there is significant potential to identify new tin mineralisation within the wider tenement area at Oropesa.
