Having received encouraging drilling results from the prospective Bell 50 area, Metals X has announced its annual resource estimate for the Renison Bell mine, Tasmania. Renison Bell is one of the highest-grade tin mines currently in production and is part-owned by Metals X through the Bluestone Mines Joint Venture.
Overall, the Mineral Resource at Renison has increased by 22%, from 215,700 tonnes of contained tin to 263,000 tonnes. This includes Measured, Indicated and Inferred Resources. Within this, Indicated Resources have almost doubled from some 118,600 tonnes of contained tin to nearly 230,000 tonnes. While the grade of the Measured Resources has declined slightly – from 1.69% Sn to 1.62% – this has only marginally altered the contained tin due to a slight increase in the tonnage.
Managing Director, Damien Marantelli, is proud of the progress made at Renison over the past 12 months. “It has truly been a great year from Renison” he said in a statement, adding “Work has no moved onto updating the Ore Reserve estimate and a new life-of-mine plan that will include the activities and planning required to access the now defined 4.47Mt of high grade tin resources with Area 5.”
Our view: Results from the Bell 50 area, which is down-plunge of the current development area known as Area 5, suggested that Area 5 could be extended by 200m down-plunge. However, these results are yet to be incorporated into the updated Mineral Resource. Additional drilling at the Bell 50 area is planned for the second half of this year.