What's Happening?
Elementos, a tin exploration company, has announced a significant increase in its resource estimate at the Cleveland Tin Project in Tasmania. The inferred resource now stands at 8.49 million tonnes with a tungsten trioxide grade of 0.24%, doubling the contained tungsten tonnage to 20,610 tonnes from the previous estimate in 2014. This increase is attributed to an ore sorting testwork program that improved tungsten trioxide feed grades to 0.98%. The company plans to conduct further geotechnical assessments and metallurgical testwork in the coming months to support future resourcing and study work.
Why It's Important?
The increase in resource estimates at the Cleveland Tin Project is a significant development for Elementos, as it strengthens the foundation for future
technical and economic assessments. This development could enhance the company's position in the global tin market, potentially attracting more investment and partnerships. The improved resource estimates also suggest a more efficient extraction process, which could lead to increased profitability and sustainability of the project. This is particularly relevant as global demand for tungsten, a critical mineral, continues to rise.
What's Next?
Elementos plans to commence a LiDAR drone survey and finalize the selection of a metallurgical laboratory for further testwork. These steps are crucial for advancing the project towards production. The company’s geological team is currently evaluating historic drill cores for additional mineralization information, which could further enhance the project's resource base. The outcomes of these assessments will likely influence future investment decisions and project timelines.
