Elementos quarterly update: Maiden zinc resource at Oropesa Tin Project

In a bid to capitalise on the surging demand for critical metals, Elementos (ASX:ELT) is making significant strides with its two development assets in highly regulated mining jurisdictions in Andalucía, Spain, and Tasmania, Australia. The company is strategically positioned to exploit the growing global electronics industry and address the impending supply shortfall of tin in electronic solder.

Elementos' primary focus is on the Oropesa Tin Project in Andalucía, Spain, where it is advancing through regulatory approvals and conducting a Definitive Feasibility Study (DFS) to formalize the project's technoeconomic parameters and financial returns. The ultimate goal is to secure financing and offtake agreements for the construction of the project, ultimately delivering the European market's first major tin mine.

Here are the quarter highlights for Elementos:

1. Maiden Zinc Resource Estimate: Elementos reported a significant development at the Oropesa Tin Project with a maiden Zinc (by-product) Mineral Resource Estimate (MRE) of 23.75 million tonnes at 0.42% Zn. This underscores the project's potential to contribute to zinc production as a valuable by-product.
2. Progress with Andalucían Authorities: The company is making headway in its discussions with Andalucían authorities regarding project approvals for Oropesa. Elementos remains engaged with all necessary government stakeholders, anticipating the resolution of administrative permitting affairs to move forward with the project.
3. Australian Government Recognition: The Australian government has added tin to its 'Strategic Minerals List,' emphasizing the importance of tin as a critical resource.
4. Tasmanian Government Support: Elementos is set to receive co-funding of $70,000.00 from the Tasmanian government for tungsten and tin exploration at Cleveland, Tasmania, highlighting the government's commitment to supporting critical metal exploration.
5. Chairman's Support: Elementos Chairman has provided a $2.0 million loan facility, demonstrating strong support for the company's initiatives and growth prospects.

Oropesa Tin Project - A Strategic Asset

The Oropesa Tin Project, located in the Guadiato Valley, Andalucía, Spain, is strategically positioned within the European Union and boasts one of the world's largest undeveloped open-cut tin deposits. With access to world-class infrastructure, the project is well-positioned for development.

Elementos is in advanced stages of the Definitive Feasibility Study (DFS) for Oropesa and is in ongoing negotiations with authorities to secure major project approvals. The company is actively engaged with Andalucían government stakeholders, both departmental and political, and believes that significant progress has been made towards resolving major issues related to project modifications and licensing.

Maiden Zinc Resource Estimate

Elementos announced a maiden zinc Mineral Resource Estimate (MRE) of 23.75 million tonnes at 0.42% Zn for the Oropesa Tin Project in November 2023. This development allows Elementos to recover and produce a saleable zinc concentrate, offering environmental, mining, and economic benefits alongside tin production.

The incremental costs associated with zinc production are expected to be relatively minor, making it a viable by-product stream to consider for inclusion in the project's Definitive Feasibility Study (DFS).

Zinc production will not impact the main tin concentrate production at Oropesa, and the previously reported Tin MRE remains unchanged at 19.6 million tonnes at 0.39% Sn.

Elementos' commitment to the Oropesa Tin Project and its exploration efforts in Tasmania reflect its dedication to securing a prominent position in the global tin market, supporting the booming electronics industry and addressing the impending tin supply shortfall. The company's strategic initiatives continue to progress, promising a bright future in the critical metals sector.