http://www.carpentariaex.com.au/Fil...ect_Portfolio_with_Yanco_Glen_Acquisition.pdf
Carpentaria Expands Tin Project Portfolio with Yanco Glen Acquisition
Company’s nearby Euriowie tin discovery (100% CAP), increasing its tenement holdings to 240 km² in the base metal which has recently hit record highs of over US$27,000 a tonne.
Executive Chairman, Nick Sheard noted that “This acquisition consolidates our 100% holding of two major historical tin fields in the Broken Hill district, and provides the opportunity to expand the tin potential we are currently establishing at Euriowie.”
“Our initial drilling at Euriowie has given us confidence that the mineralised systems within the Mt Euriowie dyke extend from the surface exposure to depth. The mineralisation is very similar at Yanco Glen, with the tin occurring as cassiterite (tin oxide) in pegmatite dykes. There is also the added bonus of an established Inferred Resource of tungsten1 with upside potential.”
The tungsten resource, from surface, comprises 830,000 t @ 0.21% WO3 , and occurs as another heavy mineral, scheelite, which can be mined and processed in a similar method to the tin mineralisation. Previous drilling by CRA Exploration (CRAE) in the 1980’s indicated the potential for increased size and grades both down dip and along strike, with intersections of up to 4m @ 2.47% WO32 having been encountered.
“Carpentaria intends to fast track systematic rock channel sampling to evaluate the economic tin potential of this tin field that has not be subjected to modern exploration,” Mr Sheard said.
“In addition, we will review and evaluate the resource estimate completed on the Yanco Glen tungsten deposit, with the aim of expanding the resource and exploring potential mining options.”
Mr Sheard said “recent positive drilling results from Euriowie, together with this new acquisition, had given Carpentaria an unrivalled holding of tin prospects located near established infrastructure in western NSW.”
“Tin prices have risen by around 50 per cent this year due to a global supply shortfall, and the long-term outlook is strong due to continued demand growth. Our tin portfolio has the potential to capitalise on this production deficit, with the prospect of low-cost mining processes in an area with established road and rail infrastructure and mining know-how,” he said.
“Carpentaria’s aggressive exploration program has already achieved two discoveries near Broken Hill – the Hawsons Iron Project and the Euriowie Tin Project – which add to our diverse project portfolio across eastern Australia. We intend to capitalise on the solid outlook for minerals prices by targeting the development of a cash flow-generating mining project in the near term, fo the benefit of shareholders.”
Carpentaria Expands Tin Project Portfolio with Yanco Glen Acquisition
Company’s nearby Euriowie tin discovery (100% CAP), increasing its tenement holdings to 240 km² in the base metal which has recently hit record highs of over US$27,000 a tonne.
Executive Chairman, Nick Sheard noted that “This acquisition consolidates our 100% holding of two major historical tin fields in the Broken Hill district, and provides the opportunity to expand the tin potential we are currently establishing at Euriowie.”
“Our initial drilling at Euriowie has given us confidence that the mineralised systems within the Mt Euriowie dyke extend from the surface exposure to depth. The mineralisation is very similar at Yanco Glen, with the tin occurring as cassiterite (tin oxide) in pegmatite dykes. There is also the added bonus of an established Inferred Resource of tungsten1 with upside potential.”
The tungsten resource, from surface, comprises 830,000 t @ 0.21% WO3 , and occurs as another heavy mineral, scheelite, which can be mined and processed in a similar method to the tin mineralisation. Previous drilling by CRA Exploration (CRAE) in the 1980’s indicated the potential for increased size and grades both down dip and along strike, with intersections of up to 4m @ 2.47% WO32 having been encountered.
“Carpentaria intends to fast track systematic rock channel sampling to evaluate the economic tin potential of this tin field that has not be subjected to modern exploration,” Mr Sheard said.
“In addition, we will review and evaluate the resource estimate completed on the Yanco Glen tungsten deposit, with the aim of expanding the resource and exploring potential mining options.”
Mr Sheard said “recent positive drilling results from Euriowie, together with this new acquisition, had given Carpentaria an unrivalled holding of tin prospects located near established infrastructure in western NSW.”
“Tin prices have risen by around 50 per cent this year due to a global supply shortfall, and the long-term outlook is strong due to continued demand growth. Our tin portfolio has the potential to capitalise on this production deficit, with the prospect of low-cost mining processes in an area with established road and rail infrastructure and mining know-how,” he said.
“Carpentaria’s aggressive exploration program has already achieved two discoveries near Broken Hill – the Hawsons Iron Project and the Euriowie Tin Project – which add to our diverse project portfolio across eastern Australia. We intend to capitalise on the solid outlook for minerals prices by targeting the development of a cash flow-generating mining project in the near term, fo the benefit of shareholders.”
