Redmoor is now the biggest undeveloped underground tin project in the world
Link copied to
New Age Exploration is now proud owner of the largest, second highest grade undeveloped tin-tungsten underground mining project in the world.
An updated resource estimate for the explorer’s (ASX:NAE) Redmoor tin-tungsten project in the UK has tripled the contained metal and boosted grades by 17 per cent.
This Inferred Mineral Resource now sits at 137,000 tonnes of tin equivalent, up from a March 2018 estimate of 45,000 tonnes.
New Age reckons most of the Redmoor deposit remains open down-dip and to the west – which means that resource can only get bigger.
The company says it will kick off a mining study very soon aimed at identifying the “optimal project development path”.
New Age director Joshua Wellisch says the updated Redmoor Resource further establishes the project as a “deposit of global significance”.
“The 1.17 per cent tin equivalent resource grade places the project in an outstanding competitive position relative to other new tin and tungsten projects around the world,” Mr Wellisch says.
“The result of the resource update is consistent with the increased grades seen through the 2018 drill program and provides an extremely strong base on which the project will be advanced from this year.”