Elementos Commences Exploration Drilling at Oropesa Tin Project

THE DRILL SERGEANT: Elementos (ASX: ELT) has commenced an eight-hole exploration drilling campaign at the company’s Oropesa tin project in Spain.

Elementos explained the drilling will target additional mineralisation outside the project’s 2021 Mineral Resource Estimate (MRE).

The drilling has been designed based on results from the recent 10-hole infill drilling and a geotechnical drill program in 2022 at Oropesa.

Five shallow diamond drill holes will target potential up-dip and therefore shallower mineralisation towards the southeast margin of the Mineral Resource.

Three diamond drill holes will target potential extensions to tin and zinc mineralisation intersected in one of the earlier geotechnical drill holes from 2022 located northwest of the current Mineral Resource boundary.

Elementos is currently awaiting one batch of assays to finalise an update to the 2021 MRE and support Oropesa’s Definitive Feasibility Study (DFS).

“We are advancing rapidly towards completing the DFS and increasing the confidence of the Mineral Resource Estimate,” Elementos managing director Joe David said in the company’s ASX announcement.

“However, Oropesa remains prospective for additional mineralisation so it’s quite exciting to kick off this exploration drilling program which will test extensions to our current Mineral Resource.

“Additional mineralisation, if intersected, should give our shareholders extra confidence that Oropesa’s Mineral Resource is yet to be fully defined and the possibility that additional mineralisation and therefore mine life may exist outside the known mineralisation.

“Exploration is underway during a time when the tin price is surging, based on what appears to be a return to fundamental supply-demand analysis which shows a significant deficit in the tin market from 2024/2025 onwards.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE