Tin explorer Elementos has acquired four new exploration licences surrounding its Oropesa tin project in Spain, and has reported further high grade assays from drilling at the Cleveland project in Tasmania.
Announcing the acquisition of four new tenements in Andalucia, Elementos said these tenements are geologically prospective for base and critical minerals, including tin. Three of the tenements are adjacent to Oropesa and the company believes there is a “reasonable to high probability” that similar mineralisation to that of the Oropesa massive to semi-massive and disseminated sulphide mineralisation could be located in those areas.
The fourth tenement, San Jose, is located 7 km to the south and is dominated by a metamorphic sequence intruded by I-type and the generally more tin-prospective S-type granites. There has been limited drilling at this site but historical soil sampling by the Spanish Government indicates heavy rare earth element anomalies and drilling by the Spanish Geological Survey indicates the potential for copper porphyry discovery and revealed strong alteration of the granites.
The company highlighted its strong working relationship with the Andalucian Government and Managing Director Joe David commented that the “award of these tenements by the Junta de Andalucia is more public support for the company’s operations in the area and our Oropesa Tin Project which remains a key member of the Government’s Project Accelerator Unit.”
In a separate announcement, the Elementos announced new assay results from Tasmania. Following previous discoveries of high grade polymetallic mineralisation at Cleveland—a former tin and copper mine—the company has been testing extensions to its tungsten mineral resource and has intercepted tin-copper and tungsten. The company highlighted a tin-copper intercept of 1.09 m at 0.76% Sn and 0.88% Cu from 389.47 m and a range of tungsten intercepts including 1.2 m at 0.52% WO3 from 476.8 m.
Mr David commented: “We’ve confirmed some encouraging tungsten mineralisation as we enter the start of the targeted Foleys Zone which has ~420 m of visual tungsten mineralisation as reported last week. The company is looking forward to the receipt of the next batches of assays as the tungsten mineralisation moves deeper from this transition zone.”
Our view: We are pleased to see the acquisition of new prospective tenements around Oropesa and additional positive drilling results at the multi-metal Cleveland project. Both developments signal strong progress for Elementos and we look forward to seeing further news from the company.
