Sky Metals Expands Tallebung High-Grade Tin Discovery

THE DRILL SERGEANT: Sky Metals (ASX: SKY) declared growth of the company’s 100 per cent-owned Tallebung tin project in central New South Wales.

Sky Metals made the declaration on the back of recent Reverse Circulation (RC) drilling that commenced in mid-April.

Shallow, high-grade tin intersected in the first three holes of the RC program included:

TBRC118
6 metres at 1.01 per cent tin from 52m, including 2m at 2.54 per cent tin from 54m;

TBRC116
13m at 0.33 per cent tin from 70m, including 5m at 0.74 per cent tin from 76m; and

TBRC117
2m at 1.1 per cent tin from 69m.

“We have made a cracking start to the RC program, with shallow, high-grade tin returned in each of the first three holes,” SKY Metals managing director & CEO Oliver Davies said in the company’s ASX announcement.

“The initial drilling has expanded the high-grade zone immediately south of the MRE, adding substantial momentum to our current exploration program.

The 2.54 per cent tin intercept equates to over 8.5 per cent copper with the tin price 3-3.5 times the copper price at current LME spot prices.

“This demonstrates the very high value of these intercepts and reinforces the strategic importance of the shallow extensions we are finding to the south and east of the current deposit.

“This is an exciting time for our shareholders as we begin to uncover the true potential of this extensive tin field.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE