Sky Metals (ASX: SKY) is advancing its major drilling campaign at the 100%-owned Tallebung Tin Project in central-western New South Wales, with a second drill rig now mobilizing to accelerate progress. The expanded program, comprising more than 100 holes, is designed to grow resources and improve confidence in shallow mineralization as the company moves toward mine development studies.
Oliver Davies, Managing Director and CEO of Sky Metals commented, “The mobilisation of a second rig represents another important step in accelerating our drilling campaign at Tallebung to unlock the full potential of this exceptional tin-silver-tungsten system. We are looking forward to receiving the first assay results in the coming weeks and commencing work on an updated Mineral Resource Estimate, targeted for completion in Q1 next year. With strong Board support and a strengthened funding position, we are also well placed to advance mine development studies early next year, which will be based on the upgraded MRE.”
The current reverse circulation (RC) drilling has already delivered over 20 holes, targeting in-fill zones and extensions to high-grade mineralisation. Priority work includes testing the south-eastern margin of the deposit, where standout results from hole TBRC171 confirmed exceptional grades of 3m @ 686.3g/t silver and 0.96% tin from 24m. These results highlight the strong potential for high-grade zones within the broader Tallebung system.
With the second rig on site, drilling will accelerate through year-end, incorporating diamond drilling to provide structural and geotechnical data critical for open-pit design and feasibility studies. First assay results are expected in December, with regular updates to follow. An updated Mineral Resource Estimate (MRE) and mining studies remain on track for early next year, based on data from more than 300 holes—a significant increase from the 115 holes underpinning the current resource.
On the corporate front, Sky Metals has received an additional $592,000 from Directors and Management following AGM approval of their participation in the recent placement, reinforcing strong board support. Combined with proceeds from the recent $6.1 million capital raise, the company remains well-funded to progress metallurgical testwork, environmental studies, and multi-rig drilling in parallel—key steps toward securing future mining approvals.
To read more about this, please visit https://investorhub.skymetals.com.au/
For more articles like this, please visit https://www.theassay.com/
