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Elementos Extends Cleveland Tin and Tungsten Mineralisation

THE DRILL SERGEANT: Elementos Limited (ASX: ELT) claimed confirmation of extensions to both the Battery Tin-Copper Lode and deeper Foley’s Tungsten Zone at the company’s Cleveland tin project in Tasmania.

Elementos reported assay results from a recently completed reconnaissance diamond drill hole program that included:

Tungsten intercept of 14.2 metres at 0.36 per cent tungsten from 221m; and

Tin-copper intercept of 3.85m at 1.05 per cent tin and 0.28 per cent copper from 64.25m.

Foley’s Zone is one of two known deposits at Cleveland, the other being Battery Lode, that make up part of the project’s Mineral Resource.

“In just one hole, in an area with very little historical exploration, the company has made a significant development at the Cleveland project, extending both the Battery Tin-Copper Lode and identifying new tungsten mineralisation 150 metres above the existing Foley’s Zone,” Elementos managing director Joe David said in the company’s ASX announcement.

“This is firm evidence that the current Cleveland Mineral Resource and geological model does not fully encapsulate the immense potential of the deposit.

“We’ve shown further mineralisation exists, close to the current resource, closer to the surface and in very close proximity to historical underground mine production drives.

“Our four-hole drill campaign is now complete ahead of more assays to follow.

“We will now proceed with downhole geophysical surveys and further geological interpretation before designing a targeted follow-up drill program.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@elementos.com.au

 

Web: www.elementos.com.au

 

Elementos Updates Oropesa Tin Project Mineral Resource Estimate

THE DRILL SERGEANT: Elementos (ASX: ELT) reported an increase to the total Mineral Resource Estimate at the company’s 100 per cent-owned Oropesa tin project in Spain.

Elementos declared material increase to the tonnage, shallowness and geological confidence levels at Oropesa, resulting in a current MRE of 18.86 million tonnes at 0.4 per cent tin at a 0.15 per cent tin cut-off.

In the update, 16.62 million tonnes (88%) of the Mineral Resource is classified as Measured and Indicated, confirming both geological and grade continuity to support the preparation of a Definitive Feasibility Study.

Additionally, 4.97 million tonnes of the Mineral Resource in now within 100 metres of the surface.

“We are extremely pleased by the results of the updated Mineral Resource estimate which exceed the goals set by the company before the drilling program started last year in both the magnitude of the increase to the Mineral Resources tonnes and classification confidence compared to the 2018 numbers,” Elementos chief executive officer Joe David said in the company’s ASX announcement.

“These increases result in the project having a large, shallow and geologically confident Mineral Resource base to assess in our future mine planning studies, via techno-economic modification factors, and supports our goal of releasing a maiden JORC Ore Reserves Statement at Oropesa.

“In a period of record high tin prices, this upgraded Mineral Resource Estimate puts the company in a prime position to complete the mine planning stage of the Definitive Feasibility Study next year and move this project forward and into production.

“The company is well funded, with $5.2 million cash (at 30 September 2021) and approx. $6.3 million of exercisable options outstanding which expire during 2021.

“Elementos is well positioned to progress Oropesa through feasibility studies and into production.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@elementos.com.au

 

Web: www.elementos.com.au

 

Elementos Extends New Oropesa Tin Zone

THE DRILL SERGEANT: Elementos Limited (ASX: ELT) reported a high-grade tin assay result from a recent diamond drill hole undertaken at the company’s 100 per cent-owned Oropesa tin project in Spain.

Elementos declared the result had added to the company’s confidence in the ability to grow the Oropesa tin resource at a time when global tin prices at all-time highs on both the London and Shanghai exchanges.

The company claimed Hole ADD_23 confirmed the high-grade extension of a recently reported shallow tin mineralisation zone.

Results from ADD_23 include (cut-off grade of 0.1 per cent tin):

18.7 metres at 0.55 per cent tin from 29.2m, including 6m at 1.1 per cent tin from 41.9m, 1m at 0.31 per cent tin from 74.5m, and 3.2m at 0.18 per cent tin from 21m.

“This final assay confirms further extension of the significant zone of shallow tin mineralisation recently identified at the project,” Elementos CEO Joe David said in the company’s ASX announcement.

“This assay result is significant in both its thickness and its high grade.

“This shallow tin zone will likely play a critical role in the re-definition of the updated Mineral Resource Estimate which is on track to be completed at the end of October 2021.

“The company is pleased to bring the data collection phase of the Mineral Resource Estimate to a close, completing a very successful program.

“This updated Mineral Resource Estimate, when completed, will set the foundations for a very robust European tin project.

“This mineralisation will underpin an updated mine plan, which in turn will underpin the economics of the project.

“The global spot tin price is currently at all-time-highs and if it remains elevated, this will likely materially change the economics of our project.

“The current tin price combined with an updated Mineral Resource Estimate has the company very excited about the path forward for our shareholders moving into our Definitive Feasibility Study for Oropesa.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@elementos.com.au

 

Web: www.elementos.com.au

 

Elementos Continues Oropesa Tin Encounters

THE DRILL SERGEANT: Elementos (ASX: ELT) reported on a current drilling campaign underway at the company’s Oropesa tin project in Spain.

Elementos informed the market of the receipt of assays for a further five diamond drill holes to follow 22 diamond drill holes previously reported from this program.

Results include:

Expn_010A
12.5 metres at 0.8 per cent tin from 36.3m, 6.7m at 0.31 per cent tin from 67.1m, 15.9m at 0.28 per cent tin from 100.6m;

Expn_052A
9m at 0.3 per cent tin from 84.6m, 10.1m at 0.24 per cent tin from 124.1m;

Expn_057
16.5m at 0.23 per cent tin from 19.4m, 5.5m at 0.39 per cent tin from 42.7m; and

Expn_060
22.9m at 0.28 per cent tin from 6.1m, 8.6m at 0.21 per cent tin from 59.0m, 22.6m at 0.23 per cent tin from 69.4m.

“The confirmation of the tin mineralisation continuity at Oropesa provides strong support that the company’s geological knowledge of the deposit is robust,” Elementos CEO Joe David said in the company’s ASX announcement.

“This continued confirmation has led to the recent announcement (20 May, 2021) by the company to commence feasibility development programs on the project whilst the drilling program is in its final stages.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@elementos.com.au

 

Web: www.elementos.com.au

 

 

Elementos Commences Feasibility Programs at Oropesa Tin Project.

THE DRILL SERGEANT: Elementos (ASX: ELT) announced the commencement of feasibility development programs at the company’s Oropesa tin project in Spain.

Elementos said the activity will consist of a series of metallurgical, geotechnical and hydrogeological investigations, supported by laboratory test work and engineering studies.

The upcoming work is to be funded by proceeds from the company’s recent capital raising, with the studies to be run in parallel with the current resource drilling program and planned Mineral Resource Estimate update.

“Elementos has approved these programs due to the continued encouraging results we have seen from the resource drill program and the overwhelming support we’ve received from our shareholders and the strong interest in Oropesa from the wider global tin market,” Elementos CEO Joe David said in the company’s ASX announcement.

“The parallel tracking of these programs with the final resource drilling and Mineral Resource Estimate will put the company in the best possible position to finalise the evaluation and development of the Oropesa tin project.”

 

 

Email: admin@elementos.com.au

 

Web: www.elementos.com.au

 

Elementos Reports Further Oropesa Tin Intercepts

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:

Expn_016
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

 

Email: admin@elementos.com.au

 

Web: www.elementos.com.au