Explorer TNT Mines has found high-grade tin in Tasmania
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Tin explorer TNT Mines says Tassie is proving to be tin-n’-tungsten rich.
The Perth-based explorer (ASX:TIN) has uncovered grades of up to 4.1 per cent tin at the un-mined Lutwyche-Kookaburra prospect, which is located near the past-producing Aberfoyle tin mine.
It says the project is proving itself to be a “significant tin and tungsten narrow-vein system”.
Tin is primarily used as a solder component for electronic circuit boards and microchips, which accounts for about half of its global consumption.
TNT says Lutwyche-Kookaburra is made up of as many as six narrow, but strongly mineralised veins.
They’re accessible via surface shafts and from existing underground development extending from the Aberfoyle mine, 350m below surface.
The combined vein system is believed to be a comparable target to Aberfoyle, where mineralisation was discovered in 1916.
The deposit operated as an underground mine, producing 2.1 million tonnes at 0.91 per cent tin and 0.28 per cent tungsten, until its closure in 1982.
TNT, which made its debut on the ASX in November, assessed previously unprocessed diamond holes to further evaluate the Lutwyche-Kookaburra system.
One hole was drilled to test a strike extension position of the Johnsons-Pay veins, an oblique structure extending between the sub-parallel Lutwyche and Kookaburra veins.
Multiple narrow veins were intersected, with results including 0.30m at 1.47 per cent and 1.5m at 0.96 per cent tin.
A historical diamond hole that tested the same structure 150m to the south-east returned high grades of up to 8.9 per cent tin.
“We consider the assay results from the two recently logged and sampled unprocessed diamond drill holes as strongly consistent with historical observations in underground and surface mapping and confirms the Lutwyche-Kookaburra vein complex to be a significant narrow-vein tin-tungsten target,” chairman Brett Mitchell told investors.
Tech to drive tin demand
Tin has not been in the spotlight much, but there is now a renewed interest in the base metal, which was recently ranked as the metal most likely to be impacted by new technology.
While tin demand remains steady at the moment, the growing battery market and other new disruptive technologies are expected to drive an increase in demand for the commodity.
London’s BMI Research says the global refined tin market will remain in deficit until 2021 due to declining reserves and mounting regulations.
Tin consumption is predicted to exceed production by 2600 tonnes in 2018, with the deficit expected to rise to 7800 tonnes in 2021.
This is expected to drive the price of tin up to $US22,500 per tonne by 2021 – up from $US21,125 at the moment.
Here’s a list of ASX stocks with exposure to tin courtesy of leading ASX data provider Mak Corp. (Scroll or swipe for full table)
*Prices are as of April 24 (intraday)
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