Toronto listed Eurotin Inc. (TSX-V:TIN) has announced an update of the NI 43-101 compliant, Mineral Resource Estimate for its Oropesa tin project in southern Spain to 12.49 Mt at 0.553%, or 69,100 tonnes of contained tin.
This new figure includes an increase in indicated tin resources to 9.16 Mt at 0.56% Sn, or 51,700 tonnes of contained tin, a 2.5% increase from 2014. Inferred tin resources also rose to 3.33 Mt at 0.52% Sn or 17,400 tonnes of contained tin, a 17.5% increase from the previous year. Both used a marginal cut-off grade of 0.1% Sn.
The increased mineral resource is a result of improved geological interpretation by UK based SRK Consulting, resulting in a more robust model for the deposit. Recent results from newly assayed drill cores and the April 2015 drill programme, as well as increased potential open pit mining depth, also contributed to the new figures.
Eurotin’s Interim CEO and President, David Danziger, commented: “We are extremely pleased with the new resource figures, which we believe gives the Oropesa project the chance to become one of the highest grade, open-pittable tin mines in the world today.”