Cleveland Project Tungsten Potential
Brisbane, Oct 29, 2013 AEST (ABN Newswire) - Elementos Limited (
ASX:ELT) (ELTLF:OTCMKTS) ("Elementos" or the "Company") is pleased to announce a Conceptual Exploration Target and work program for Foley's tungsten zone at Cleveland.
Independent consultants, Mining One, have reported an Exploration Target for Foley's zone of between 72,000 and 120,000 tonnes of contained WO3, below 850m RL. The Exploration Target, defined from 26 diamond drill holes totaling 6,796 metres, is tabulated below. The potential quantity and grade of the exploration target is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.
Foley Zone Tungsten Exploration Target Below 850m RL
----------------------------------------------------Cut-off grade % WO3 0.2% 0.0% Tonnes 24 Mt 60 MtGrade % WO3 0.3% 0.2%Contained metal: tonnes of WO3 72,000 120,000Contained metal: Million mtu of WO3 7.2 12.0----------------------------------------------------
The Exploration Target is in addition to the previously reported Inferred Mineral Resource for Foley's zone above 850m RL which is more intensively drilled. The Inferred Mineral Resource above 850m RL, estimated independently by Mining One Consultants at a 0.2% WO3 cut-off grade, was 3.89Mt @ 0.30% WO3 for total contained metal of 13,000 tonnes WO3.
Foley's tungsten zone represents an exciting new opportunity for the Company, and the potential of the tungsten deposit has not previously been recognised. Tungsten is a high-value metal, with supplies of tungsten outside of China, which controls approximately 84% of the market, difficult to secure. The Company will now commence a work program to study the development potential of the project.
Cleveland Tungsten Project
At the Cleveland project, the Foley's tungsten deposit is located approximately 350 metres below the mine portal and largely separate from the lodes that constitute the Cleveland tin-copper resource, the primary short-term development focus of the Company.
The Foley's tungsten mineralisation occurs principally as wolframite ((Fe,Mn)WO3), hosted in both the stock-work around, and within a greisenised porphyry dyke.
The Company's future development scenario for the Foley's tungsten deposit envisages an underground caving style operation, and recovery of saleable concentrates through standard gravity, magnetic separation and flotation processing technologies.
The north-west Tasmanian minerals province is well supported by developed infrastructure and a strong mining culture. Cleveland is linked to Burnie export port by sealed roads. Accessible power runs through the Cleveland exploration licence area, and there is abundant processing water available. The Burnie region has a large, available, and industrial and mine savvy workforce.
Exploration Target
Mining One have independently reviewed historical data relating to the Foley's tungsten deposit, and defined a geological model and Exploration Target outlining its potential. The Exploration Target, which is separate to the JORC Inferred Mineral Resource, has been defined from 26 diamond drill holes into Foley's zone totaling 6,796 metres, sampled and assayed over 2.5 metre intervals Drill-hole intercepts in mineralisation totaled 3,638 metres at a length-weighted average grade of 0.20% WO3.
The tungsten bearing stock-work is currently considered to dip vertically and has a known strike length of about 300 metres, an across strike width of up to 300 metres and a down dip extent of 900 metres.
To view the full announcement, please visit:
http://media.abnnewswire.net/media/en/docs/76123-ASX-ELT-763961.pdf
Managing Director Calvin Treacy will be presenting a live webcast at Investorium.tv Sydney Sky Tower on Monday 25th November from 5:30PM.
To register for the Webcast Presentation, please visit:
http://www.investorium.tv/
Contact
Elementos Limited
T: +61-7-3221-7771
WWW: www.elementos.com.au/
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