Stellar Resources Boosts Heemskirk Tin Inventory Above 100,000t with Queen Hill MRE Increase

Stellar Resources (ASX: SRZ) has announced a 41% increase to the mineral resource estimate (MRE) at the Queen Hill deposit within its flagship Heemskirk tin project in western Tasmania.

The new estimate sits at 4.11 million tonnes grading 0.85% tin for 34,900t of contained metal, including an Indicated resource of 2.26Mt at 0.94% for 21,190t.

This boosts the total mineral resource at Heemskirk to 9.5Mt at 0.93% tin for 88,100t of contained metal ahead an updated MRE at the Severn deposit next quarter.

With the increase in contained tin at Queen Hill, Stellar now has a tin resource inventory base of more than 100,000t across Heemskirk and the nearby St Dizier open pit deposit, which contributes 2.26Mt at 0.61% tin for 13,800t.

Contained Tin Milestone

Managing director Simon Taylor said the Queen Hill upgrade had been a major boost to the Heemskirk project.

“Breaking the 100,000t mark for contained tin across Heemskirk is a major milestone and we are thrilled with the results from the Queen Hill resource update,” he said.

“This project continues to demonstrate its outstanding high-grade characteristics, allowing us to optimise our resource models to capitalise on the prevailing strength of global tin prices.”

Heemskirk has been consistently ranked as the highest-grade undeveloped tin project in Australia and the third globally of peer company projects.

Maiden Queen Hill Estimate

Queen Hill’s maiden resource estimate in 2023 was reported at a cut-off grade of 0.6% tin against a prevailing tin price of US$22,000 per tonne.

The latest update has been reported at a 0.4% cut-off grade against a tin price hovering around US$50,000/t.

If reported at the previous 0.6% cut-off, the Queen Hill update would have resulted in a 32% increase in contained tonnes within the indicated category, a 22% increase in contained tin tonnes, and a 0.09% reduction in grade.

On a total indicated and inferred basis, the update sees a 28% increase in contained tonnes, a 12% increase in contained tin and a 0.14% reduction in grade.