Aus Tin Mining (ASX:ANW) update on its Taronga Tin Project


by Carolyn Herbert

The Taronga Tin Project is located in the historic field of Emmaville in northern New South Wales, which is about a four-hour drive from Brisbane. The project has a JORC-compliant mineral resource containing 57,000 tonnes of contained tin, plus 26,000 tonnes of copper and 4.4 million ounces of silver. In addition, it contains molybdenum and tungsten, and we consider it prospective for lithium.

We completed a comprehensive pre-feasibility study in 2014 that demonstrated the technical and economic viability of the project, treating 2.5 million tonnes per annum over nine years to produce just under 3,000 tonnes of contained tin per annum. As part of the pre-feasibility study, we also identified a number of areas of upside, including tin grade, and we subsequently progressed plans to assess this potential upside by way of a trial mine and pilot plant, with a Stage 1 Development. We're targeting a section of the ore reserve with a low strip ratio and also that's wholly contained with a block of freehold property that we own.

At the the time of the pre-feasibility study, we indicated that a modest increase in the grade to 0.19% actually had the potential to double the NPV of a project. Then, in 2015, we conducted some drilling, primarily for environmental samples. It would be an understatement to say the results were a pleasant surprise on the upside, with the first 10m coming back at 0.37% tin, which was a whopping 115% above the estimated resource grade for that particular block. 

Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.