Sky Metals Limited (ASX: SKY) has advised of a substantial increase in its mineral resources estimate (MRE) and exploration target with exceptional ore sorting upgrades and potential for further expansion of resources from recent rock chip samples at the Tallebung Tin Project in New South Wales, Australia.
A new exploration target of approximately 23-32Mt at a grade between 0.14 – 0.17 % tin has been defined from the drilling completed to date.
“The tin price is maintaining strong levels at 3x the copper price, making tin a very high value commodity with continuing fragility present in global tin supply. These excellent results from Tallebung are building SKY’s crucial position to produce low-cost Sn from reliable and ethical sources,” said Sky CEO Oliver Davies.
“TOMRA ore sorting is vital to this, these latest results…show consistent upgrading at Tallebung to over 0.6% Sn across the entire deposit, at current prices, 0.6% Sn equates to over 1.5% Cu in value.”
Exceptional results for the TOMRA Ore Sorting variability testwork at Tallebung show:
- TBD005 (206-232m): 0.17% Sn upgraded 6.6x to = 1.10% Sn (99.1% Sn recovery)
- TBD008 (152-169m): 0.14% Sn upgraded 5.1x to = 0.70% Sn (98.6% Sn recovery)
- TBD005 (2-22m): 0.21% Sn upgraded 6.5x to = 1.38% Sn (99.3% Sn recovery)
Independent geological consultants, H&S Consultants Pty Ltd (H&SC), were retained to provide an updated MRE for the project. H&SC compiled the 115 holes drilled at Tallebung to date, including 85 holes drilled by SKY since 2019, for approximately 19,098 assays in total, to produce the MRE.
The updated MRE shows a 53% increase in total tonnes from the maiden MRE as well as a significant increase in the exploration target. Updated MRE indicated and inferred resources totals came to 15.6Mt @0.15% tin for 23.2Kt of contained tin at a 0.08% tin cut-off grade.
SKY will commence drilling of this exploration target in the coming months with at least 20 reverse circulation (RC) holes and diamond drilling with the aim to expand the MRE and grow confidence in this estimated target.
For further information, please visit: www.skymetals.com.au
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