Consolidated Tin receives first 2012 drill results

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THE DRILLSERGEANT: Tin exploration and development play Consolidated Tin Mines has received assay results from the first 2012 drill program on the Pinnacles deposit at the company’s Mt Garnet tin project near Cairns in northern Queensland.

This drill program consisted of a total 54 holes drilled at the Pinnacles deposit with the aim of testing the North Area of the deposit and followed drilling undertaken by the company late last year.

Pinnacles drill collar locations. Source: Company announcement

The 2012 drilling campaigns has continued to drill test a large area contained within a 700 metre (north-south) by 500 metre (east-west) boundary.

Drilling highlights include:

–    25 metres at 0.56 per cent tin from 9 metres to 34 metres, using 0.2 per cent tin cut off.

“This is another excellent result from the Pinnacles deposit which continues to expand with drilling,” Consolidated Tin Mines managing director Ralph De Lacey said in the company’s announcement to the Australian Securities Exchange.

“The large, near surface ‘North Area’ is an excellent low cost open pit mining target.

“The Pinnacles deposit may also have a significant Fluorine by-product as well as an iron by-product that is a feature of these Mt Garnet tin skarn deposits.

“The Pinnacles deposit is intended to be brought into production after the initial three to four year mining of Gillian and Deadmans Gully.”

The Pinnacles deposit was originally explored by Comalco as a Fluorine deposit and currently has a JORC Inferred Resource of 960,000 tonnes at 15 per cent Fluorine.

The company commenced its second 2012 drill program in May, which is ongoing, while assay results from the Gillian drill program, which was also part of the first 2012 drill program, will be released to the market as they become available.

The Mt Garnet Tin project comprises three main deposits: the Gillian, Pinnacles and Windermere/ Deadmans Gully deposits.

The Mt Garnet project has a total JORC Mineral Resource of 7.3 million tonnes at 0.60 per cent Tin, which includes 1.2 million tonnes at 0.82 per cent tin in the Measured category at the Gillian deposit.