Jan. 30 -- Consolidated Tin Mines completed some 4,000 metres of exploration drilling at its Mount Garnet project in Northern Queensland in the quarter to end-December and after further work in the current quarter will upgrade its JORC resource estimate (currently 7.4 million tonnes at 0.6% tin). In the December quarter the company also agreed to acquire the Jeannie River project 320 kilometres north of Mt Garnet (2.24 Mt also at 0.6% tin) and concluded a three year negotiating process to conclude an Indigenous Land Use Agreement.
Further work on mineral processing of the ironstone skarn deposits and environmental studies will feed into a Pre-feasibility Study. In a presentation made at ITRI's Investing in Tin seminar in December, the company indicated that the PFS could be completed in Q1 and a full feasibility study in Q2. Subject to the satisfactory conclusion of the studies and funding negotiations, project construction could start by the end of the year.
For queries, please contact Michael Jiang at michaeljiang@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn