Metals X has reported a 20% increase in tin ore reserves at its 50%-owned Renison mine in Tasmania. In its latest half-yearly statement of mineral resources and ore reserves, proved and probable reserves at Renison are estimated at 3.96 million tonnes of ore at 1.39% tin, giving a tin content of 55,000 tonnes. In addition tailings at the mine amount to 19.62 million tonnes at 0.45%, or 87.800 tonnes of contained tin. A bankable feasibility study on a tailings treatment project (“Rentails”) was completed in 2009, but the project has been on hold while capital costs and processing options have been reviewed with the Chinese joint venture partners.
In a statement Metals X CEO Peter Cook said: “The growth in the ore reserves at the Renison Tin Project is an excellent outcome and testament to aggressive exploration, investment and belief in the future of the Renison mine over the past year. We have substantially increased both the size and quality of our mineral resources and ore reserves and we have again re-affirmed Renison as one of the great tin districts of the world.”
