Aus Tin Mining Limited (ASX:ANW) CEO, Peter Williams provides an update on the company's cobalt projects, including its newest Pembroke prospect.
Rachael Jones: Hello I’m Rachael Jones for the Finance News Network. Joining me today from Aus Tin Mining Limited (ASX:ANW) is CEO, Peter Williams. Peter, welcome back to FNN.
Peter Williams: Thanks Rachael.
Rachael Jones: Last week Aus Tin Mining released a Development & Exploration Update for the company’s tin and cobalt projects. Could you please provide us with a quick summary of the highlights?
Peter Williams: Starting with Taronga, which is our flagship project, where we are intending to undertake a trial mine, which is stage one to test various areas of upside. Including the increased grade for the resource and increased tin recovery. So we’ve been very busy there progressing a number of approvals. And just last week, we were actually offered the mining lease, which is a major milestone for the project. We’ve also been progressing contract and negotiations, so that once we’ve got all our approvals in place, we can hit the ground running. And we have also continued the evaluation of ore sorting; just last week actually,ran a trial down in Sydney. So lots of work happening at Taronga.
At our Granville project in Tasmania, we’ve been busy there with commencement of waste mining at the open pit. So in the coming week or so, we hope to be firing our first bench blast of waste there. And finally at our Mt Cobalt exploration project here in Queensland, we’ve been busy. Having completed our 3D modelling a couple of weeks ago, we’ve generated targets both for Mt Cobalt and also Pembroke. And we’re actually also just undertaking an induced polarisation, or IP survey at Mt Cobalt and that’s actually due to finish today. And we’ll use the data from that to finalise the holes for Mt Cobalt. So lots of things happening across our three projects.
Rachael Jones: Pembroke sounds like a very interesting project. Could you tell us a little bit more about that and provide some background on the historical exploration undertaken there?
Peter Williams: Pembroke is an asset the company have had since 2008, when the first exploration was undertaken there, during which they established the presence of nickel sulphides. So it was one of the key projects for the company prior to the merger and I guess, the re-emphasis on tin. But we have continued to explore there, we did some work in 2015. There are now about 27 holes that have been completed at Pembroke, some really interesting intersections. For instance, some of the best two metre intersections and we’ve got included 1.7 per cent nickel at 1,000 ppm cobalt, 1.6 per cent nickel, 2.5 per cent nickel. So some really good results in nickel sulphides.
At the time the early exploration was taken, they also established that there was a zone of copper and gold that overlaid the nickel mineralisation. And some very interesting results there as well, the most notable intersection was just under 21 metres at 1.04 per cent copper and 2.1 grams per tonne of gold. So it represents a very interesting target. As part of the 3D modelling that we just recently completed I guess from Mt Cobalt, we went back and had a look at some of the data for Pembroke and have identified some new areas that are worth targeting. As well as the magnetic target we’ve previously indicated we intend to drill. So that’s all happening in conjunction with the drilling program at Mt Cobalt, which is scheduled to commence in the first week of October.
Rachael Jones: Last question now Peter. Is there anything else that you’d like to add?
Peter Williams: It’s just been a very busy couple of months for us, but I think the next three months are going to be particularly exciting for the company, as we finalise all our approvals for Taronga. And subject to obtaining all the necessary approvals, commencement of ore mining at Taronga, before the end of the year. At Granville, looking to get back into production once we’ve got the tailings storage facility completed, and we’re just waiting on a window of finer weather there. And obviously, we hope to generate some very exciting exploration results from the Mt Cobalt/Pembroke drill program.
Rachael Jones: Peter Williams, thanks for the update.
Peter Williams: Thanks Rachael, appreciate it.