Elementos detects new large tin zones at Oropesa in Spain
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Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) has detected several new significant zones of tin mineralisation at the company’s flagship Oropesa Tin Project in Spain following a fresh review of historical drill core samples. As a part of the review, more than 170 diamond drill holes were examined resulting in the collection of 207 samples to be assayed for tin. The new zones of mineralisation identified occur from near the surface to towards the base of the known resource. Review coincides with drilling Elementos chairman Andy Greig said the company was encouraged by the review which coincided with the company’s diamond drilling program scheduled across 47 holes for about 5,000 metres. He said: “We’re very pleased by the new zones of mineralisation generated to date by this historical core optimisation program, designed to increase the project’s overall resource and mine life. “We’re confident that the data we’re accumulating will also serve to reduce the overall stripping ratio and improve mining dilution for the proposed open-cut mining operation, which has a prospective annual production of 2,440 tonnes of tin in concentrate over a 14-year mine life. “Oropesa’s current geological resource was drawn from analytical and geological data collected from 261 drill holes by the project’s previous owners, Eurotin Ltd. “Following the completion of our optimisation works, Oropesa will be ready to progress into the definitive feasibility study stage and finalise environmental permitting.” Oropesa project Through its Oropesa Tin Project in Spain’s south, one of the world’s largest undeveloped tin resources, Elementos is well-placed to take advantage of tin’s supply/demand imbalance. On December 31, 2019, the company finalised the acquisition of the project - a large undeveloped, open-cut mineable tin deposit. This acquisition represents an excellent opportunity to create a value-uplift potential for shareholders. The company has also initiated an optimisation program, designed to increase the project’s overall resource, annual production and mine life.
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