Elementos initiates diamond drilling at Cleveland Tin Project

Company News

by Peter Milios

Elementos (ASX:ELT) has commenced diamond drilling at its 100% owned Cleveland Tin Project, located near Waratah in Tasmania. The drilling operation, spanning 1,100 meters, aims to investigate mineralization of tin, copper, tungsten, and fluorite. This initiative builds upon the company's previously published Ore Reserves, Mineral Resources, and Exploration Target.

The drill hole, positioned with a new orientation relative to historical surface and underground drilling, is strategically designed to assess the continuity and boundaries of the Tungsten Exploration Target. Additionally, it aims to explore potential extensions to the company’s Tin & Copper Mineral Resources, known to contain fluorite mineralization.

The Exploration Target, estimated between 15-24 million tonnes of 0.24-0.3% WO3, lies beneath the Reduced Level (RL) 850 meters. This target complements Elementos’ existing 3.97 million tonnes JORC Inferred Tungsten Mineral Resource, situated above the RL850m level.

Recovered drill core samples will serve dual purposes: refining the understanding and modeling of intersected mineralization, and conducting preliminary tungsten ore sorting, mineralogical, and metallurgical test work.

Managing Director Joe David expressed optimism about the project's prospects, noting its historical significance as a tin and copper mine while emphasizing Elementos’ focus on delineating the tungsten mineralization. He highlighted the project’s potential to meet the increasing global demand for critical minerals essential in electronic, battery, military, and technology industries.

David underscored the company's enthusiasm fueled by the robust commodity prices of tin, copper, and tungsten, indicating Elementos’ commitment to unlocking the value of its development projects. While the Oropesa Tin Project remains the flagship, he emphasized the significance of re-commencing drilling at the Cleveland Project in Tasmania.

Acknowledging the support of the Tasmanian Government and its Economic Development Growth Incentive (EDGI) program, David emphasized alignment with the Australian Government’s Critical Minerals list, underscoring their shared vision to facilitate discoveries and further define mineralization in Tasmania.

Elementos endeavor marks a significant step forward in the exploration and potential exploitation of critical minerals, furthering Tasmania’s position in the global minerals market.

Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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