Elementos Restricted (ASX: ELT) has bolstered the event prospects of its Cleveland Tin Venture, within the mineral wealthy province of north-west Tasmania after excellent drill assays from the “Foleys Zone” confirmed giant steady zones of tungsten, co-mineralised with a collection of extremely desired important minerals.
Highlights:
- Drill assays verify giant tungsten mineralisation over 465.9m (above a cut-off grade of 0.1%) together with a single steady zone of 319.5m @ 0.18% WO3 from 772.4m (downhole)
- A number of higher-grade zones of tungsten (~0.24-1.6% WO3) recognized all through the broader tungsten mineralisation throughout the Foleys Zone.
- Vital co-mineralisation of Vital Minerals intersected throughout the tungsten mineralisation, together with high-value minerals; rubidium, molybdenum, fluorspar/fluorite and bismuth. Rubidium, as Rubidium Carbonate, at the moment trades within the vary of ~US$1,100/kg# (~US$1.1M/t).
Managing Director Joe David mentioned the outcomes improve the Cleveland Venture’s improvement prospectivity significantly.
“Along with the beforehand established 7.5Mt of tin and copper Mineral Sources3 and the 4.0Mt of tungsten Mineral Sources1,2, the venture now has a further suite of Vital and Strategic Minerals*^ to judge together with molybdenum, fluorite/fluorspar (additional assays pending), bismuth and rubidium. These minerals are focused by the Australian and US Governments (and their allies) resulting from their contribution to high-tech industries and present reliance on concentrated offshore provide chains,“ Mr David mentioned.
“These Foley Zone intersections are probably game-changing for the venture as we proceed to construct a strong suite of Vital Mineral mineralisation, forward of creating the technical research to outline the financial case for the corporate’s deliberate re-start of the previous Cleveland Tin Mine.
“The affirmation of just below half-a-kilometre of tungsten, of considerable grade and depth seem globally important. That is regardless of the very fact the opening drifted barely at depth and missed the last word porphyry dyke goal (traditionally intersected) leaving potential additional upside for the mineralisation, grades and the venture.”
“While the intersection of minerals aside from tungsten was thought-about potential, resulting from a number of analysis papers and historic mine information, the thickness of continuity of a few of these Vital Mineral intercepts has been a constructive shock. Significantly noteworthy is intersecting over 200m of beforehand un-identified rubidium mineralisation (>0.1% Rb), a uncommon and distinctive mineral which trades round US$1.1 million/tonne,” he mentioned.
“Rubidium is indispensable for quantum computing, GPS know-how, fibre optics, electronics, pyrotechnics, the medical trade and can also be used to make specialty glass.”
“We imagine on-top of the beforehand outlined Mineral Sources1,2,3, the affirmation of just below 500m of further Tungsten mineralisation, co-mineralised with these Vital and Strategic Minerals positively places the Cleveland Venture back-on-the-map.”
Assay Outcomes
As beforehand reported, drill gap C2124/C2124A was drilled to a depth of 1,122m. The drill gap examined for extensions to the tungsten Mineral Useful resource1,2 throughout the extremely potential “Foleys Zone” which lies beneath the Cleveland tin-copper Mineral Useful resource3.
The present assay information being reported is along with beforehand reported assay information from this drill gap (18 June 20245, tenth July 20246 & 4th Sept 20248).
At the side of follow-up workstreams (ie. fluorite assays), the corporate will proceed to refine its improvement plan and focus for the Cleveland Venture.
Notice, solely preliminary fluorspar/fluorite assays are reported. An additional 291 samples (representing 394.2m) are being despatched to the ALS laboratory in Vancouver laboratory for specialised ore-grade halogen assays after it was beforehand recognized that many samples had been above recordable ranges for the Brisbane laboratory.
The tungsten analytical outcomes for these pattern depths had been reported earlier8.
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