Aus Tin Mining (ASX:ANW) update on its Taronga Tin Project
Aus Tin Mining (ASX:ANW) CEO Peter Williams provides updates on drilling results from its Taronga Tin Project.
We completed a comprehensive pre-feasibility study in 2014 that demonstrated the technical and economic viability of the project, treating 2.5 million tonnes per annum over nine years to produce just under 3,000 tonnes of contained tin per annum. As part of the pre-feasibility study, we also identified a number of areas of upside, including tin grade, and we subsequently progressed plans to assess this potential upside by way of a trial mine and pilot plant, with a Stage 1 Development. We're targeting a section of the ore reserve with a low strip ratio and also that's wholly contained with a block of freehold property that we own.
At the the time of the pre-feasibility study, we indicated that a modest increase in the grade to 0.19% actually had the potential to double the NPV of a project. Then, in 2015, we conducted some drilling, primarily for environmental samples. It would be an understatement to say the results were a pleasant surprise on the upside, with the first 10m coming back at 0.37% tin, which was a whopping 115% above the estimated resource grade for that particular block.
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