THE DRILL SERGEANT: Elementos (ASX: ELT) reported that recent activity has confirmed further continuity of mineralisation at the company’s Oropesa tin project in Spain.
Elementos is currently undertaking a drilling and optimisation campaign to increase the confidence of the Mineral Resource at the flagship Oropesa tin project that is happening just as falling inventories saw tin prices touch historic highs.
The company received assays for an additional diamond drill hole that was drilled last month, confirming mineralisation of:
2.7 metres at 0.39 per cent tin from 74.3m;
33.3m at 0.22 per cent tin from 92m; and
15.1m at 0.53 per cent tin from 138.4m.
The company explained these results are in addition to 21 diamond drill holes it has previously reported from this program.
Elemontos said the drilling program was now over 70 per cent completed and was on track to complete the company’s objectives.
“The continued rally of the tin price over the last 12 months to over US$34,000 per tonne is providing strong encouragement for the company to rapidly advance the development of the Oropesa project, one of the world’s highest-grade, opencut tin developments.” Elementos CEO Joe David said in the company’s ASX announcement.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE