Sky Metals (ASX: $SKY) announcement highlights

Sky Metals Limited (ASX: $SKY) has announced the discovery of high-grade tin mineralisation at the Tallebung Tin Project in New South Wales. The first assay results from the ongoing drilling program revealed significant high-grade tin mineralisation in the southern-most drillhole, TBRC078, representing a 150m step out of the mineralisation along strike, extending tin mineralisation well beyond the previous extent of drilling and outside of the resource envelope. The new discovery substantially expands the Tallebung tin deposit, opening up the southern strike of the deposit to further discoveries. The company's CEO, Oliver Davies, expressed excitement about the discovery and the potential for further extensions.

Executive commentary on the discovery

To intercept high-grade tin so early in the ongoing drilling program is the result of the great work by the SKY exploration team as we build our geological understanding of the Tallebung tin deposit. The team has also acted very quickly to plan additional infill and extension drillholes around this exceptional new high-grade tin results. The next rounds of assay results from this program are eagerly anticipated. The expansion of the Tallebung tin deposit with the discovery of a new high-grade tin zone that is open to the south is particularly exciting given the backdrop of a surging tin price through the start of this year. The tin price has continued to maintain well over 3x the copper price, resulting from the tightening of tin supply and increasing demand.

Summary of Sky Metals (ASX: $SKY) announcement

Sky Metals Limited (ASX: $SKY) has reported the extension of high-grade results at the Tallebung Tin Project in New South Wales. The discovery of a new high-grade tin zone that is open to the south has substantially expanded the Tallebung tin deposit, offering potential for further discoveries. The company plans to continue the drilling program to significantly expand the Tallebung Mineral Resource Estimate (MRE) and explore for additional high-grade mineralisation. The ongoing program is estimated to take another 6-8 weeks with further assay results expected to be received over the coming weeks. Sky Metals aims to advance the Tallebung Project by increasing the resource to the 23-32Mt Exploration Target and progress development for future mining. The company's CEO, Oliver Davies, expressed enthusiasm about the geological understanding of the Tallebung tin deposit and the potential for further extensions, highlighting the excitement surrounding the discovery and the backdrop of a surging tin price due to the tightening of tin supply and increasing demand.