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Metals X Ltd.
Summary
| Project: | Renison | |
|---|---|---|
| Deposit: | Renison | |
| Location: | Australia | |
| Commodities: | Tin-Copper | |
| Date: | 1/30/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 30-1-2020: Metals X Ltd. announces a Resource Estimation report for its Renison deposit at the Renison project. Mineral resource update for project. Metals X Limited (Metals X or the Company) is pleased to provide an updated Mineral Resource estimat | |
| Resources: | (Resource, Total): 44.09Mt @ 0.90% Sn and 398.5Mt @ 0.21% Cu at Renison | |
| CP/QP: | [Resources]: Colin Carter (Internal) | |
| ABSTRACT: | Metals X Limited (Metals X or the Company) is pleased to provide an updated Mineral Resource estimate for the Renison Tin Operations (Renison) in Tasmania. Renison is 50% owned by Metals X through the Bluestone Mines Tasmania Joint Venture (BMTJV). Since the 2019 Mineral Resource estimate (31 March 2019)2, BMTJV has completed substantial additional drilling utilising up to three underground diamond drilling rigs. A total of 416 new holes for 41,079m of drilling have been completed with a focus on infill and resource definition programs at Area 5, Bell 50, Leatherwood and Huon North areas (Figure 1). Drilling within Area 5 has further delineated and extended the previously reported high grade zone hosted predominantly within the No. 2 Dolomite, both within the footwall and hangingwall of the Federal-Bassett Fault (CBF). Importantly, significant mineralisation has also been defined within the fault itself and the hangingwall No. 1 Dolomite, along with the Red Rock Member of the Mine Sequence. The program further defined the position of the cross-cutting Doliminator Fault which has offset the host Mine Sequence to the west by approximately 50m. As a result, the boundary of the Area 5 and Bell 50 areas has been modified. The updated Area 5 Measured, Indicated and Inferred Mineral Resource currently stands at 4.32Mt at 2.10% Sn for 90,700 tonnes of contained tin using the revised boundary. Further drilling into the Bell 50 area defined significant tin mineralisation down-plunge from Area 5. This has generated a maiden Measured, Indicated and Inferred Mineral Resource of 1.17Mt at 2.05% Sn for 24,000 tonnes of contained tin. While Bell 50 is plunging towards the Pine Hill Granite, the deepest drill holes to date continue to intersect Renison Mine Sequence and further drilling down-plunge is warranted. Resource drilling programs completed into the Leatherwood Trend have further delineated significant additional tin mineralisation hosted within the Federal Bassett Fault and the No. 2 Dolomite. The upgraded Measured, Indicated and Inferred Mineral Resource of 2.38Mt at 1.51% Sn for 36,000 tonnes of contained tin remains open up-plunge. The Leatherwood Trend continues to build into an important new mining area. | |
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