Tartana Minerals Restricted (ASX: TAT) (the Firm), is happy to advise that it has upgraded its Nightflower Exploration Goal after reviewing its earlier estimation in gentle of the current will increase within the Antimony worth. Nightflower is a excessive grade silver – lead deposit with, beforehand missed, vital Antimony credit.
Highlights:
- Nightflower undertaking is a excessive grade silver deposit with traditionally spectacular intersections from previous drilling together with 9 m @ 506g/t Silver (>16 oz/t), 12.6% Lead, and 1.46% Zinc.1
- An Exploration Goal vary reported on 6 June 2022 has now been considerably upgraded to 2.75 Mt @ 364 g/t Ag Eq for 32 Moz Ag Eq to five.36 Mt @ 270 g/t Ag Eq for 47 Moz Ag Eq. The Exploration Goal is conceptual in nature solely and there’s no assure that additional exploration will outline a useful resource.
- Antimony has contributed to the Exploration Goal, nevertheless, current vital will increase within the Antimony worth as a result of China’s export restrictions have improved the undertaking’s economics.
- Historic drilling outcomes point out Antimony grades up 3.05m @ 9.0% Sb, 24.0% Pb, 10.5% Zn, 14.9 oz/t Ag, and 0.38% Cu (Gap NF72DD11), though the Exploration Goal relies on a 1% Sb grade.
- Drilling is now being deliberate to check the goal and improve beforehand recognized mineralisation to JORC 2012 reporting requirements.
In mid-August China, the world’s largest producer of Antimony – producing 83,000t in 2023 (USGS) – accounting for 48% of the world’s provide, will likely be proscribing Antimony exports from 21 September 2024. Consequently, the Antimony worth has considerably elevated and is at the moment buying and selling at US$24,500/tonne (Argus Metals, Antimony ingot min 99.65% fob China).
The revised Exploration Goal is summarised in Determine 1, incorporating the unique tonnages from the 6 June 2022 announcement with revisions to the grade vary, detailed later on this report.
Determine 1. Revised Exploration Goal. Observe: The Exploration Goal is conceptual in nature solely and there’s no assure that additional exploration will outline a useful resource.
The estimated Antimony content material vary throughout the Exploration Goal is summarized in Determine 2 under.
Determine 2. Revised Exploration Goal with an estimated contained Antimony vary. Observe: The Exploration Goal is conceptual in nature solely and there’s no assure that additional exploration will outline a useful resource.
Tartana Minerals Managing Director, Stephen Bartrop, commented:
“Important will increase in our Exploration Goal, Antimony costs, and consequently the economics of the undertaking underpins the significance of the Nightflower undertaking. With manufacturing on the Tartana mine web site reaching regular state, this chance is just extra vital. Additional this represents just one goal (The Digger Lode mineralisation) and excludes the prospectivity of the adjoining Terrace lode and a attainable additional discovery.”
Nightflower Silver Undertaking Historical past
The Nightflower undertaking is situated 40 km north of Chillagoe in Far North Queensland. It covers a considerable a part of the northern Featherbed Volcanic Group and the underlying and surrounding Hodgkinson Formation.
It was found as a excessive grade silver deposit in 1923 and was visited by the Queensland Premier in October 1923. On the Premier’s return to Brisbane he reported that the ore at Nightflower was very wealthy and a truck-load handled at Chillagoe gave about 30% of lead and 40 ounces of silver to the ton (Supply: Qld Govt Mining Journal Vol XXIV, Oct 1923).
Click on right here for the total ASX Launch
This text contains content material from Tartana Minerals Restricted, licensed for the aim of publishing on Investing Information Australia. This text doesn’t represent monetary product recommendation. It’s your accountability to carry out correct due diligence earlier than performing upon any data offered right here. Please confer with our full disclaimer right here.
