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STELLAR RESOURCES LIMITED Capital/Financing Update 2023
65860_rns_2023-08-02_e4f0ccc8-4b71-4a72-bbcf-e4eefdc2528c.pdf
Capital/Financing Update
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Stellar Resources Limited (ASX: SRZ, "Stellar" or "the Company"), is pleased to provide a further update on its recently completed exploration drillhole, NSD005 at North Scamander on EL19/2020 in Northeast Tasmania.
Highlights
__________________________________________________
- Following 38.6m of visually significant Zn-Pb-Cu mineralisation (announced 28 June 2023), North Scamander exploration drillhole NSD005 has since intersected 160m of pyrrhotite +/- chalcopyrite stockwork veining from 349m, and 14m of weaker pyrrhotite +/- chalcopyrite stockwork veining from 564m. 1
- The hole also intersected a visually significant upper Zn-Pb-Cu mineralised vein and breccia zone over a length of 38.6m from 131.2m, and a less significant Zn-Pb-Cu mineralised breccia and stringer zone over a length of 17.7m from 223.0m (previously announced on 28 June 2023).
- The hole was completed on 1 August 2023 to a depth of 732.7m with this announcement covering visual mineralisation intersected in the hole since the 28 June announcement.
- Discovery of the new copper-bearing stockwork zone (the primary target) confirms the presence of a significant hydrothermal system at depth under historic drilling at North Scamander.
- The hole has now intercepted a total of over 212m of mineralisation including the newly discovered copper-bearing stockwork zone and the upper Zn-Pb-Cu mineralised vein and breccia zone (previous announcement):
- The two styles of mineralisation intercepted are interpreted as the upper and lower parts of the same metal-rich granite-related hydrothermal system.
- Chalcopyrite mineralisation intersected is interpreted as a possible 'near-miss' indicator of a potential tin system, or as the low grade margins to a copper-dominant system.
- Geological logging has been completed up to 610m. Sampling and dispatch to the laboratory has been completed up to 232m. The remaining logging and sampling will be completed by mid-August. The first batch of results to 232m are expected by mid-September and the second batch of results from 232m to EOH are expected by late-September.
- Downhole Electromagnetic (DHEM) Survey planned to assist in targeting follow up drilling.
Executive Director, Gary Fietz, commented: "The discovery of a new copper-bearing stockwork zone at North Scamander is a fantastic development for the North Scamander prospect and Stellar Resources. All the signs point towards an emerging base metals discovery on Tasmania's east coast".
Stellar Resources Limited ABN: 96 108 758 961
Level 4, 96 – 100 Albert Road, South Melbourne Victoria 3205, Australia T: +61 3 9692 7222 F: +61 3 9077 9233 E: [email protected] Web: www.stellarresources.com.au Twitter: @SRZ_Tin
1 In relation to the disclosure of visible mineralisation, the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. The Company will update the market when laboratory analytical results become available, expected to commence from mid-August 2023.
North Scamander NDS005 Drilling Update
Figure 1 - Core Photos from the Newly Discovered Copper-Bearing Stockwork Zone at North Scamander
(A. Massive Po vein, 415.6-415.9m; B. Po-Py-Cpy vein-breccia 437.4-437.6m; C. Po Stockwork, 452.4-452.6m; D. Po-Cpy Stockwork, 460.4-460.6m; E. Disseminated-clotty Po 486.4-486.6m; F. Po-Cpy-Chl clots within a strongly quartzaltered sandstone interval; G. Po-Cpy vein-breccia, 491.9-492.1m; H. Close-up of G (reverse side), showing typical occurrence of Cpy aggregates, often at the margins of a larger Po vein)
New Upper Zn-Pb-Cu Mineralised Zone (announced 28 June 2023)
As previously announced on 28 June 2023, North Scamander exploration drillhole NSD005 intersected a new visually significant Zn-Pb-Cu mineralised zone over a length of 38.6m from 131.2m containing sphalerite, galena and chalcopyrite, and associated pyrite hosted in massive veins, semi-massive veins, hydrothermal breccia and associated stringer-style veins. A less significant new Zn-Pb-Cu mineralised breccia and stringer zone over a length of 17.7m from 223.0m was also intersected.
The Primary Target remaining for NSD005 was to test the root zones of the shallow Zn-Pb-Cu-Ag-Sn mineralized hydrothermal breccia intersections in historic drillholes NSD001 to NSD004 at North Scamander which are coincident with a regional scale magnetic anomaly. A Secondary Target remaining for NSD005 was to test the granite cupola and immediate aureole for greisen style Sn-W (Li-Nb-Ta) mineralisation.
Drillhole NSD005 was completed on 1st August to a depth of 732.7m with this announcement covering visual mineralisation intersected in the hole since the 28 June 2023 announcement.
Broad Copper Bearing Stockwork Mineralisation Intersection
NSD005 has since intersected 160m of semi-continuous pyrrhotite dominated stockwork veining from 348.6m. The stockwork density varies from 1-20 veins per metre, with total sulphide percent ranging from trace to 40%, averaging approximately 8% across the 160m interval, and is accompanied by significant chlorite alteration. A second, less significant 14m interval of weaker vein and veinlet mineralisation intersected in NSD005 from 564m occurs below the main stockwork interval, averaging approximately 2.5% sulphides across the interval.
Selected core photographs of these mineralised stockworks zones intersected in NSD005 are shown in Figure 1 on the page above with further core photos showing the continuity of mineralisation shown in Appendix 1.
A preliminary summary log of the mineralised stockwork zones intersected in NSD005 is shown in Table 1.
These newly discovered copper-bearing stockwork zones was NSD005's Primary Target. Together with upper Zn-Pb-Cu mineralised vein and breccia zone (announced on 23 June 2023) NSD005 has now intercepted a total of over 212m of mineralisation at North Scamander. The two styles of mineralisation are interpreted as the upper and lower parts of the same metal-rich granite-related hydrothermal system.
A schematic interpretation of the North Scamander hydrothermal system is shown in Figure 2 and a Cross Section looking in the same orientation (NNW) showing Zn Grades from historic drilling, logged total sulphide percentage, new breccia / stockworks zones logged in NSD005, and magnetic inversion (clipped to >0.015 10- 5 SI), extending down into the originally modelled granite body is shown in Figure 3.
Possible Near Miss Indicator
The newly discovered stockwork zone at North Scamander in NSD005 with a length of 160m from 348.6m is highly significant as it demonstrates the existence of a previously proposed high temperature depthcontinuation of the hydrothermal system. The presence of this large sulphide-dominated stockwork demonstrates the continuity and tenor of the system. The sulphide-dominant nature of the stockwork mineralisation indicates a significant volume of available sulphur, establishing that the magmatic system was highly efficient at localising sulphur-bearing hydrothermal fluids, which are important for forming large economic orebodies.
Chalcopyrite is minor but appears to get more consistent with depth, providing some evidence that the copper mineralisation intersected to date is related to the granite proposed at depth. The presence of minor chalcopyrite is significant for two reasons; (1) it further demonstrates the metalliferous nature of the system at depth, and (2) it likely indicates an exploration 'near-miss', as copper is often used as a proximal pathfinder in classic zonation around tin orebodies. An alternative interpretation is that the North Scamander prospect is a copper-dominant system, or that there is a distinct copper zone associated with but adjacent to a high temperature tin-dominant core. Further drilling will be required to fully understand the metal tenor and distribution at North Scamander.
| From | To | Interval | Vein/Bx | Py | Po | Sph | Gn | Cpy | Total | |
|---|---|---|---|---|---|---|---|---|---|---|
| (m) | (m) | (m) | Min Style | (%) | (%) | (%) | (%) | (%) | (%) | Sulf (%) |
| 343.9 | 348.6 | 4.7 | Stockwork | 3.5 | 0.5 | 0.4 | 0.1 | 1.0 | ||
| 348.6 | 355.0 | 6.4 | Stockwork | 5.2 | 2.0 | 3.0 | 5.0 | |||
| 355.0 | 372.6 | 17.6 | Stockwork | 8.5 | 1.0 | 4.0 | 2.0 | 0.4 | 0.1 | 7.5 |
| 372.6 | 383.0 | 10.4 | Stockwork | 12.0 | 0.8 | 9.0 | tr | tr | 0.2 | 10.0 |
| 383.0 | 390.0 | 7.0 | Stockwork | 4.0 | 0.8 | 2.0 | 0.1 | 2.9 | ||
| 390.0 | 399.0 | 9.0 | Stockwork | 1.9 | 0.1 | 1.4 | 1.5 | |||
| 399.0 | 400.5 | 1.5 | Stockwork | 0.7 | tr | 0.5 | 0.5 | |||
| 400.5 | 406.8 | 6.3 | Stockwork | 1.2 | tr | 0.2 | 0.2 | |||
| 406.8 | 407.2 | 0.4 | Stockwork | 20.0 | 15.0 | 1.0 | 5.0 | 5.0 | 1.0 | 27.0 |
| 407.2 | 408.0 | 0.8 | Vein | 1.0 | tr | 1.0 | 2.0 | 3.0 | ||
| 408.0 | 415.6 | 7.6 | Stockwork | 7.5 | 5.0 | 5.0 | ||||
| 415.6 | 416.0 | 0.4 | Vein | 20.0 | 40.0 | 0.5 | 40.5 | |||
| 416.0 | 430.5 | 14.5 | Stockwork | 1.1 | 0.1 | 0.1 | ||||
| 430.5 | 437.4 | 6.9 | Stockwork | 10.0 | 0.0 | |||||
| 437.4 | 439.0 | 1.6 | Vein | 41.0 | 24.9 | 0.1 | 25.0 | |||
| 439.0 | 449.6 | 10.6 | Stockwork | 1.2 | 0.2 | 0.2 | ||||
| 449.6 | 460.0 | 10.4 | Stockwork | 9.0 | 7.5 | 0.1 | 7.6 | |||
| 460.0 | 461.0 | 1.0 | Vein | 20.0 | 20.0 | 0.5 | 20.5 | |||
| 461.0 | 465.0 | 4.0 | Stockwork | 7.5 | 7.5 | 0.2 | 7.7 | |||
| 465.0 | 472.0 | 7.0 | Stockwork | 0.3 | 0.1 | 0.1 | ||||
| 472.0 | 481.5 | 9.5 | Stockwork | 2.5 | 2.5 | 0.1 | 2.6 | |||
| 481.5 | 482.5 | 1.0 | Stockwork | 25.0 | 9.0 | 1.0 | 10.0 | |||
| 482.5 | 486.0 | 3.5 | Stockwork | 2.0 | 1.0 | 1.0 | ||||
| 486.0 | 495.0 | 9.0 | Stockwork | 10.0 | 9.0 | 1.0 | 10.0 | |||
| 495.0 | 497.0 | 2.0 | Stockwork | 5.0 | 1.0 | 0.1 | 1.1 | |||
| 497.0 | 506.0 | 9.0 | Stockwork | 3.0 | 0.4 | 0.1 | 0.5 | |||
| 506.0 | 508.6 | 2.6 | Stockwork | 15.0 | 11.0 | 1.5 | 12.5 | |||
| 508.6 | 510.0 | 1.4 | Veinlets | 1.1 | tr | 0.0 | ||||
| 510.0 | 511.0 | 1.0 | Vein | 6.1 | tr | tr | 0.0 | |||
| 511.0 | 521.0 | 10.0 | Veinlets | 2.6 | tr | tr | tr | 0.0 | ||
| 521.0 | 534.0 | 13.0 | Veins | 8.0 | 2.8 | 0.2 | 3.0 | |||
| 534.0 | 540.0 | 6.0 | Veinlets | 4.1 | tr | tr | 0.0 | |||
| 540.0 | 545.0 | 5.0 | Veinlets | 1.0 | 0.5 | 0.5 | 1.0 | |||
| 545.0 | 546.0 | 1.0 | Veinlets | 3.0 | 0.9 | 0.1 | 1.0 | |||
| 546.0 | 559.0 | 13.0 | Veinlets | 1.1 | tr | 0.0 | ||||
| 559.0 | 560.0 | 1.0 | Stockwork | 9.0 | 2.0 | 1.0 | 0.5 | 0.5 | 4.0 | |
| 560.0 | 561.0 | 1.0 | Veinlets | 2.2 | tr | 0.0 | ||||
| 561.0 | 562.0 | 1.0 | Veinlets | 7.0 | 1.5 | tr | 0.5 | 2.0 | ||
| 562.0 | 564.0 | 2.0 | Veinlets | 5.2 | tr | tr | tr | 0.0 | ||
| 564.0 | 565.0 | 1.0 | Vein | 12.5 | 4.0 | 5.0 | 1.0 | 10.0 | ||
| 565.0 | 568.0 | 3.0 | Veinlets | 12.5 | 0.2 | 2.0 | 0.3 | 2.5 | ||
| 568.0 | 571.0 | 3.0 | Veinlets | 5.5 | 0.2 | 0.2 | 0.1 | 0.5 | ||
| 571.0 | 572.0 | 1.0 | Stockwork | 14.5 | 0.5 | 1.0 | 0.5 | 2.0 | ||
| 572.0 | 574.0 | 2.0 | Stockwork | 3.5 | 0.5 | 0.4 | 0.1 | 1.0 | ||
| 574.0 | 576.0 | 2.0 | Vein | 3.5 | 0.2 | 0.2 | 0.5 | 0.1 | 1.0 | |
| 576.0 | 578.0 | 2.0 | Veinlets | 1.5 | 0.2 | 0.2 | 0.1 | 0.5 | ||
| 578.0 | 583.0 | 5.0 | Veinlets | 1.6 | tr | tr | 0.0 | |||
| 583.0 | 585.6 | 2.6 | Veinlets | 11.0 | 0.2 | 0.6 | 0.2 | 1.0 | ||
| 585.6 | 586.6 | 1.0 | Veinlets | 10.1 | tr | tr | 0.0 | |||
| 586.6 | 595.8 | 9.2 | Veinlets | 5.1 | tr | tr | 0.0 | |||
| 595.8 | 596.3 | 0.5 | Veinlets | 10.0 | 0.5 | 4.0 | 0.5 | 5.0 | ||
| 596.3 | 600.0 | 3.7 | Veinlets | 5.1 | tr | tr | tr | 0.0 | ||
| 600.0 | 610.0 | 10.0 | Veinlets | 1.1 | tr | tr | 0.0 |
| 1Table 1 - Preliminary Summary Drill Log of Mineralised Base Metal – Sulphide Zones in NSD005 | |||
|---|---|---|---|
| -- | -- | -- | --------------------------------------------------------------------------------------------------- |
Py: Pyrite, Po: Pyrrhotite, Sph: Sphalerite, Ga: Galena, Cpy: Chalcopyrite, tr: Trace
Figure 2 - Schematic interpretation of the North Scamander hydrothermal system. Mineralisation at upper levels is dominated by more discrete veins and breccias and more dominated by broader zones of stockwork veining at depth
Figure 3 - Cross Section looking NNW, showing Zn Grades from historic drilling, mineralised zones in NSD005*, including total sulphide percent logged as red histogram, and magnetic inversion (clipped to >0.01510-5 SI) extending down into the modelled granite body (*Note – classification of some mineralisation intervals have changed with the benefit of more drilling and more detailed logging)
Secondary Target
Although appreciable quartz veining also occurs throughout NSD005, varying from sparse mm-scale veinlets to high density cm-scale stockworks, high density quartz vein intervals do not generally coincide with high sulphide intervals. Where quartz and sulphide vein intervals do overlap, quartz veins are crosscut and or partially reactivated by sulphide veins, and so are only weakly mineralised. These early observations suggest that quartz veining may be early with respect to sulphide mineralisation.
No increase in quartz veining, silicification or hornfelsing was observed towards the end of NSD005, as would be expected in country rocks close to a major granitic intrusion. The Company therefore interprets the granite body to be deeper than has so far been modelled. The hole was terminated at 732.7m without intersecting the Secondary Target, and prior to the planned 750m EOH depth, due to a lack of on-going mineralisation or any evidence of proximity to the granite contact. Greisen/vein style base metals and critical minerals mineralisation at or near the granite contact remains an exploration target at North Scamander, however more detailed geophysical data is required to refine the depth of this target.
Sampling and analysis
Core is currently being processed, logged and sampled in the Mineral Resources Tasmania core shed in Hobart. Geological logging in complete up to 610m, while awaiting the final batch of core to be delivered from the field. Geological logging is expected to be completed by mid-August. Sampling is complete up to 232m and these samples have been delivered to the ALS Burnie Laboratory for analysis with results expected for this first batch of samples mid-September. Sampling is expected to be completed by mid-August, with the final batch of results from 232m to EOH expected by late-September.
DHEM Survey and Follow Up Drilling Planned
Given the near-miss indicators for potential tin mineralisation in NSD005, planning is underway to complete a downhole electromagnetic (DHEM) survey at North Scamander. Pyrrhotite and chalcopyrite provide a strong EM response, making the project well suited to this geophysical technique. The DHEM survey is expected to be conducted during October 2023. Results from the survey will inform follow up drilling at North Scamander.
Historic Drilling
Shallow Zn-Pb-Cu-Ag-Sn mineralised hydrothermal breccia intersections recorded in historic drillholes NSD001 to NSD004 at North Scamander include:
NSD001
- 167.05m @ 0.2% Zn and 5 g/t Ag, from 11.40m
- o Inc. 15.41m @0.1% Sn, 0.2% Cu, 0.8 % Zn, 0.1% Pb and 25 g/t Ag, from 163.04m
NSD002
- 138.45m @ 0.8% Zn and 12 g/t Ag, from 31.35m
- o Inc 1.21m @ 0.9% Sn, 3.4% Zn, 1.5% Pb and 28 g/t Ag, from 110.50m
- o And 6.05m @ 0.1% Sn, 2.7% Zn, 1.7% Pb and 30 g/t Ag, from 136.37m
- o And 9.15m @ 0.2% Sn, 2.1% Zn, 0.8% Pb and 38 g/t Ag, from 148.90m
NSD003
• 166.5m @ 0.16% Zn and 2 g/t Ag, from 18.80m
NSD004
• 4m @ 0.2% Cu, 0.2% Zn, 0.2% Pb and 21 g/t Ag, from 224.30m
These historic Zn-Pb-Cu-Ag-Sn mineralised hydrothermal breccia intersections contain significant pyrrhotite and magnetite, both strongly magnetic hydrothermal minerals, often associated with Sn mineralisation, providing strong evidence that the regional magnetic anomaly present at North Scamander is hydrothermal in origin.
Competent Persons Statement
The exploration results reported herein, insofar as they relate to mineralisation, are based on data compiled by, and observations made by Dr Josh Phillips (Member of the Australasian Institute of Mining and Metallurgy) who is a consultant to the Company. Dr Phillips who has sufficient experience relevant to the style of mineralisation and type of deposits considered and to the activity being undertaken to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2012). Dr Phillips consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Forward Looking Statements
This report may include forward-looking statements. Forward-looking statements include but are not limited to statements concerning Stellar Resources Limited's planned activities and other statements that are not historical facts. When used in this report, the words such as "could", "plan", "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. In addition, summaries of Exploration Results and estimates of Mineral Resources and Ore Reserves could also be forward-looking statements. Although Stellar Resources Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. The entity confirms that it is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning this announcement continue to apply and have not materially changed. Nothing in thisreport should be construed as either an offer to sell or a solicitation to buy or sell Stellar Resources Limited securities.
This announcement is authorised for release to the market by the Board of Directors of Stellar Resources Limited.
For further details please contact:
Gary Fietz Executive Director Stellar Resources Limited T: 0408 489 957 E: [email protected] For broker and media enquiries: Zander Beacham White Noise Communications T: 0433 515 723 E: [email protected]
APPENDIX 1A - Core Tray Photos from NSD005 mineralisation from 357.6 to 376.4m
APPENDIX 1B – Selected Core Tray Photos from NSD005 mineralisation from 435.8 to 495.3m
NORTH SCAMANDER TARGET (EL19/2020) - JORC Code, 2012 Edition – Table 1
Section 1: Sampling Techniques and Data (criteria in this section apply to all succeeding sections)
| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Samplingtechniques | •Nature and Quality of sampling (e.g. cut channels,random chips or specific specialized industrystandard measurement tools appropriate to theminerals under investigation, such as downholegamma scans, or hand held XRF instruments etc.).•Include reference to measures taken to ensuresample representivity and the appropriatecalibration of any measurement tools or systemsused.•Aspects of the determination of mineralisationthat are Material to the Public Report.•In cases where 'industry standard' work has beendone this would be relatively simple (e.g. 'reversecirculation drilling was used to obtain 1m samplesfrom which 3kg was pulverized to produce 30gcharge for fire assay'). In other cases, moreexplanation may be required, such as wherethere is coarse gold that has inherent samplingproblems. Unusual commodities or samplingtypes (e.g. submarine nodules) may warrantdisclosure of detailed information. | •No new assay results reported•Historic Data reported in this announcement iscompiled from publicly available sources, principallyMineral Resources Tasmania's open file drillholedatabase. This multigenerational dataset has beencollected by many companies over a long period oftime and so has varying degrees of accompanyingmetadata, varying from comprehensive to absent. Asbest as the company can ascertain the originalsampling was conducted using industry best practice,though given its age, this data should be taken withthe requisite caution. |
| DrillingTechniques | •Drill type (e.g. core, reverse circulation, open holehammer, rotary air blast, auger, bangka, sonicetc.) and details (e.g. core diameter, triple orstandard tube, depth of diamond tails, facesampling bit or other type, where core is orientedand if so by what method, etc.) | •Previous drillholes NSD1-4 were drilled usingconventional diamond drilling.•Current drillhole is using triple tube (HQ3/NQ3)wireline drilling, with core oriented using an AXISorientation tool |
| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Drill samplerecovery | •Method of recording and assessing core and chipsample recoveries and results assessed.•Measures taken to maximize sample recovery and | •No new assay reported. |
| ensure representative nature of the samples.•Whether a relationship exists between samplerecovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarse material | ||
| Logging | •Whether core and chip samples have beengeologically and geotechnically logged to a levelof detail to support appropriate Mineral Resourceestimation, mining studies and metallurgicalstudies.•Whether logging is qualitative or quantitative innature. Core (or costean, channel etc.)photography.•The total length and percentage of the relevantintersections logged. | •Historic drilling – detailed paper logs available inopen file reports•Current drilling – detailed geological conducted up to610m.•Detailed geological logging is on-going, with focus on•Nature, extent and orientation of lithologies•Texture and mineralogy of alteration•Texture, quantity and mineralogy ormineralised intervals |
| SubSamplingtechniquesand samplepreparation | •If core, whether cut or sawn and whetherquarter, half or all core taken.•If non-core, whether riffled, tube sampled, rotarysplit, etc. and whether sampled wet or dry.•For all sample types, the nature, quality andappropriateness of the sample preparationtechnique.•Quality control procedures adopted for all subsampling stages to maximize representivity ofsamples.•Measures taken to ensure that the sampling isrepresentative of the in-situ material collected,including for instance results of fieldduplicate/second half sampling.•Whether sample sizes are appropriate to thegrain size of the material being sampled | •No new assays reported |
| Quality ofassay dataandlaboratorytests | •The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial ortotal.•For geophysical tools, spectrometers, handheldXRF instruments, etc., the parameters used indetermining the analysis including instrumentmake and model, reading times, calibrationfactors applied and their derivation etc.•Nature of quality control procedures adopted(e.g. standards, blanks, duplicates, externallaboratory checks) and whether acceptable levelsof accuracy (i.e. lack of bias) and precision havebeen established. | •No new assays reported |
| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Verificationof samplingand assaying | •The verification of significant intersections byeither independent or alternative companypersonnel | •No new assays reported |
| •The use of twinned holes. | ||
| •Documentation of primary data, data entryprocedures, data verification, data storage(physical and electronic) protocols. | ||
| •Discuss any adjustment to assay data. | ||
| Location ofdata points | •Accuracy and quality of surveys used to locatedrill holes (collar and downhole surveys) trenches,mine workings and other locations used inmineral resource estimation.•Specification of grid system used. | •Drill hole collars were located using hand held GPS(accuracy ± 2m). |
| •Quality and accuracy of topographic control. | ||
| Data Spacing | • | • |
| anddistribution | Data spacing for reporting Exploration Results•Whether data spacing and distribution issufficient to establish the degree of geologicaland grade continuity appropriate for the MineralResource and Ore Reserve estimationprocedure(s) and classifications applied. | No New assays reported. |
| •Whether sample compositing has been applied | ||
| Orientationof data inrelation togeological | •Whether the orientation of sampling achievesunbiased sampling of possible structures and theextent to which this is known, considering thedeposit type. | •Drillholes are, as best we understand orientedperpendicular to the mineralized bodies. |
| structure | •If the relationship between the drillingorientation and the orientation of key mineralisedstructures is considered to have introduced asampling bias, this should be assessed andreported if material. | |
| SampleSecurity | •The measures taken to ensure sample security. | •No new assays reported |
| Audits orReviews | •The results of any audits or reviews of samplingtechniques and data. | •No audits or reviews of sampling data and techniquescompleted, as no assays are reported in this release. |
| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Mineraltenement andland tenurestatus | •Type, reference name/number, location andownership including agreements or materialissues with third parties such as joint ventures,partnerships, overriding royalties, native titleinterests, historical sites, wilderness or nationalpark and environmental settings.•The security of tenure held at the time ofreporting along with known impediments toobtaining a license to operate the area | •All tenements referred to in this release areExploration Licenses held by Stellar ResourcesLimited's wholly owned subsidiary, Tarcoola Iron PtyLtd. |
| Explorationdone by other | •Acknowledgement and appraisal of explorationby other parties. | •The North Scamander prospect was previouslyexplored by BHP up until 1984. |
| parties | •Previous work included regional stream sediments,areal magnetic survey, soil geochemistry and drillingof 4x percussion and 4x diamond drillholes. | |
| •Granite modelling was performed using a regionalscale joint magnetic and gravity inversion by MineralResources Tasmania (MRT) and is provided as anopen-source product(https://www.mrt.tas.gov.au/mrtdoc/dominfo/download/UR2021_37/). | ||
| Geology | •Deposit type, geological setting and style ofmineralization. | •The mineralization style presented here is bestcategorizedasbase-metalveinsandbrecciasinterpreted as being associated with a Sn-W stockworkor greisen at depth. |
| Drill holeinformation | •A summary of all information material to theunderstanding of the exploration resultsincluding a tabulation of the followinginformation for all Material drill holes:-easting and northing of the drill holecollar-elevation or RL (Reduced Level - elevationabove sea level in metres) of the drill holecollar-dip and azimuth of the hole-downhole length and interception depth-hole length•If the exclusion of this information is justifiedon the basis that the information is notMaterial and this exclusion does not detractfrom the understanding of the report, theCompetent Person should clearly explain whythis is the case | •Drillhole information is open file – MRT database orlisted reports.•See main body of announcement for current drillinginformation. |
Section 2: Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section)
| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Dataaggregationmethods | •In reporting of Exploration Results, weightingaveraging techniques, maximum and/orminimum grade truncations (e.g. cutting of highgrades) and cutoff grades are usually materialand should be stated.•Where aggregate intercepts include shortlengths of high-grade results and longer lengths | •No data has been aggregated in this release. |
| of low-grade results, the procedure used foraggregation should be stated and someexamples of such aggregations should beshown in detail.•The assumptions used for any reporting of | ||
| metal equivalent values should be clearlystated. | ||
| Relationshipbetweenmineralisationwidths andinterceptlengths | •These relationships are particularly importantin the reporting of Exploration Results.•If the geometry of the mineralization withrespect to the drill hole angle is known, itsnature should be reported. | •True widths not available |
| •If it is not known and only the downholelengths are reported, there should be a clearstatement to this effect (e.g. down hole length,true width not known) | ||
| Diagrams | •Appropriate maps and sections (with scales)and tabulated intercepts should be included forany significant discovery being reported. Theseshould include, but not be limited to a planview of drill collar locations and appropriatesectional views. | •See plans presented in the body of the release. |
| Balancedreporting | •Where comprehensive reporting of allExploration Results is not practicable,representative reporting of both low and highgrades and/ or widths should be practiced toavoid misleading reporting of ExplorationResults | •No new assays reported |
| Othersubstantiveexplorationdata | •Other exploration data, if meaningful andmaterial, should be reported including (but notlimited to): geological observations; geophysicalsurvey result; geochemical survey results; bulksamples – size and method of treatment;metallurgical test results; bulk density,groundwater, geotechnical and rockcharacteristics; potential deleterious orcontaminating substances. | •Other exploration data including, areal magnetics,stream sediment and soil geochemistry, as well asprevious drilling are presented in previous releases,or are discussed in the body of this release whererelevant. |
| Further work | •The nature and scale of planned further work(e.g. test for lateral extensions or depthextensions or large scale step out drilling).•Diagrams clearly highlighting the areas ofpossible extensions, including the maingeological interpretations and future drillingareas, provided this information is not | •Drill targets identified by work outlined above |
| commercially sensitive. |