Stellar Resources (ASX:SRZ) Heemskirk Tin Project update

Stellar Resources Limited (ASX:SRZ) has announced the acceleration of drilling activities at its Heemskirk Tin Project in Western Tasmania. The company has completed 2,723 meters of diamond drilling in 7 holes out of the planned 24-hole program for approximately 9,500 meters. A third diamond drill rig has been mobilized to the site to expedite the program, with the first assay results anticipated in November. The drilling program aims to upgrade additional resources to the Indicated category, extend mineralization, and provide platforms for down hole electromagnetic surveys. Additionally, a Prefeasibility Study (PFS) is underway, with the drilling program providing essential inputs for the study, including samples for metallurgical and ore sorting test work, geotechnical inputs, and a platform for hydrological studies. The company also highlighted the commencement of metallurgical and ore sorting test work programs, along with environmental baseline studies.

Stellar's Managing Director Mr Simon Taylor's comments

Work is progressing well at our flagship Heemskirk Tin Project, and a significant infill and extensional diamond drilling program is now further accelerated with a third drill rig mobilized to the site. The drilling is designed to accelerate us through Prefeasibility Studies to make Heemskirk development ready. Whilst drilling is focused on upgrading additional tonnes from the Inferred to the Indicated Resource category, we are also excited about completing down hole electromagnetic surveys once we have the suitable drill platforms in place to explore for extensions with which to expand the resource. In tandem, we have sent off the first samples for both ore sorting and metallurgical test work for analysis to assist in achieving better recoveries and data to further help in selecting an appropriate plant size. The first results from the drilling program should be available in November, and results from ore sorting and metallurgical test work over the December and March quarters.

Stellar Resources (ASX:SRZ) Heemskirk Tin Project update summary

Stellar Resources Limited (ASX:SRZ) is making significant progress at its Heemskirk Tin Project, with the acceleration of the diamond drilling program and mobilization of a third drill rig to the site. The company aims to upgrade additional resources to the Indicated category, extend mineralization, and provide platforms for down hole electromagnetic surveys. The ongoing Prefeasibility Study (PFS) is benefiting from the drilling program, which is providing crucial inputs for the study, including samples for metallurgical and ore sorting test work, geotechnical inputs, and a platform for hydrological studies. Stellar's ambitions include achieving better recoveries and data to assist in selecting an appropriate plant size. The company is well-funded with $12.3 million in cash at the end of August 2024, positioning it well to execute its corporate strategy and achieve its goals for the Heemskirk Tin Project.