Metals X extends Renison ore system

THE DRILL SERGEANT: Underground exploration activity being conducted by Metals X (ASX: MLX) at the company’s 50 per cent-owned Renison tin mine in Tasmania has defined new zones of high-grade tin mineralisation beyond the boundaries of the current resource.

Metals X said the ongoing work has also highlighted opportunities above existing development, which were unrecognised by previous operators.

The company considers the latest developments provide it with the opportunity for rapid conversion to reserve.

In the North Renison area an extensional program targeting additions to the Huon North Zone intercepted mineralisation up to 90 metres along-strike from the current resource boundary.

The best result achieved was:

–    10.53 metres at 5.24 per cent tin.

Huon North remains open both along-strike and up-plunge.

In the Central Federal Bassett (CFB) area, Metals X indicated resource definition drilling has continued to return strong results including:

–    4.18m at 5.26 per cent tin.

The company said this result had reinforced its belief a new, independent production area, located 20 metres from existing decline infrastructure will be delineated with ongoing work.

 

Renison overview showing location of recent drilling. Source: Company announcement

 

“These results follow-on from the announcement of October 25, 2012 which detailed the definition of strong stratabound skarn style mineralisation on the down-thrown hangingwall of the Federal Bassett Fault to the north of, and outside of the known mineral resource,” Metals X said in its ASX announcement.

“This ongoing exploration success clearly demonstrates the significant upside potential at Renison, which remains Australia’s only world class tin deposit and is Australia’s only tin producer.”