Media Release: Encouraging First Assay Results from Diamond Drilling at Cleveland
Elementos Limited (ASX: ELT) (“Elementos” or “Company”) is pleased to announce the results of the first five holes drilled at the Cleveland Project in northwest Tasmania.
Two significant intersections from the program include:
- Drill Hole C2102 (Henry’s Lode) – 3.9 metres @ 0.49% Sn* and 0.15% Cu from 32.1 – 36.0 metres
- Drill Hole C2104 (Khaki Lode) – 3.9m @ 0.78% Sn and 0.25% Cu from 67.1 to 71.0m
The Company is very encouraged by the results of Holes C2102 and C2104 which have the potential to extend the open–cut mineral resource at two of the main tin-copper lode systems defined at Cleveland. The intersections and transition zones have a strong presence of disseminated to semi-massive sulphide mineralisation including pyrrhotite, pyrite, marmatite and chalcopyrite (primary copper mineralisation).
The objectives of the diamond drilling program, which commenced in August is two-fold:
- Assess the potential for infill and along strike mineralisation to increase the existing open-cut mineral resources at Cleveland of 800,000t @ 0.81% Sn and 0.27% Cu
- Test the potential for new mineralisation and resources at the three new anomalies identified through the recently completed ground magnetic survey
The recent exploration activities which include mapping, sampling, geophysics and drilling are the first modern exploration activities undertaken at Cleveland since 1986. The Company is now establishing a more comprehensive understanding of the geology and mineralisation at Cleveland which it believes will assist with better target generation for the on-going drilling program.
Drill Hole C2104 mineralised zone from 67.1m to 71.0m
Chris Creagh, CEO of Elementos, said:
“The initial drill results received are an encouraging start to the program, highlighting the potential for an incremental increase in the existing open-cut resources at Cleveland.
“A total of 16 drill holes are planned targeting infill and extension mineralisation around the existing open-cut resources. An additional 12 drill holes have been planned to test the magnetic anomalies that were detected earlier this year, with drill site access and pad preparations underway.”
* (all tin assays are being reported as total tin content in %)
Elementos Limited is an Australian-based exploration and development company, listed on the Australian Stock Exchange (ASX: ELT).
Elementos owns 100% of the tin, copper and tungsten mine located in northwest Tasmania, Australia. The Company plans to develop this mine, known as the Cleveland Tin Project, in three stages: tailings reprocessing, open pit mining and the redevelopment of the existing underground mine.
With the strong fundamentals of the tin sector, an experienced board and management team, and a low capital development strategy, Elementos is poised to enter production and go on to enjoy substantial and sustainable growth.
For more information please visit: www.elementos.com.au
For further information please contact:
Rod North, Managing Director,
Bourse Communications Pty Ltd
T: (03) 9510 8309, M: 0408 670 706