Sky Metals Limited (ASX: SKY) | Tallebung Delivers Major Tin-Tungsten-Silver MRE Upgrade
Sky Metals Limited (ASX: SKY) has released an updated JORC 2012 Mineral Resource Estimate for its 100 percent owned Tallebung Project in New South Wales, delivering a significant increase in the reported Mineral Resource and introducing a maiden silver resource.
The updated resource totals 32.7 million tonnes at 0.16 percent tin equivalent, containing 36.8 thousand tonnes of tin, 1.14 million metric tonne units of tungsten trioxide, and 9.94 million ounces of silver. Compared with the previous estimate, contained tin has increased 58 percent, contained tungsten has increased 163 percent, Measured and Indicated tin resources have increased 126 percent, and the company states the updated Mineral Resource Estimate exceeds the upper end of its previous Exploration Target.
In this episode, we break down what changed, the key figures from the updated Mineral Resource Estimate, and the milestones the company says it is progressing as the Tallebung Project advances toward a Pre-Feasibility Study targeted for completion later this month.
Key topics covered:
The updated Mineral Resource Estimate for tin, tungsten and silver.
The increase in contained metals compared with the previous estimate.
The maiden silver resource and its inclusion in the updated Mineral Resource Estimate.
The company's stated large-scale, shallow open-pit development opportunity using proven ore sorting and conventional gravity processing.
Progress on the Environmental Impact Statement and the New South Wales State Significant Development approval pathway.
Additional drilling identifying mineralisation outside the current Mineral Resource Estimate.
The Pre-Feasibility Study targeted for completion later this month and the company's stated next milestones.
According to the company, the Mineral Resource remains open in all directions, with additional drilling identifying a new zone of shallow tin-tungsten-silver mineralisation on the north-eastern margin of the existing deposit that is not included in the updated Mineral Resource Estimate. Sky Metals holds 100 percent ownership of the Tallebung Project.
This episode is based solely on information contained in the company's ASX announcement. Nothing in this podcast constitutes financial advice. Listeners should do their own research and consider their own financial circumstances before making any investment decision.