Scoping Study Advances Heemskirk Tin Project
The project also includes open-pit mining of the St. Dizier satellite deposit and trucking to the processing plant at Heemskirk during year 11 of the project. The Heemskirk mineral resource currently totals 6.6 million mt, grading 1.1% tin. Mineralization remains open down dip and down plunge in all of the project’s deposits. First ore to the processing plant is expected to occur approximately six months from the start of decline development, with concentrate sales expected to commence approximately three months later. The payback period is estimated at three years.
Stellar Resources Managing Director Peter Blight commented, “The scoping study shows that Heemskirk is a very robust project with a low pre-production capital cost of A$57 million and an allin cash operating cost of US$13,100/mt tin. The project is expected to be profitable through-out the tin price cycle and has a cost structure that is comparable to neighboring Renison Tin, Australia’s largest and longest-lived tin mine. The next step for Heemskirk, subject to funding, is to convert the remaining inferred mineral resource to an ore reserve and to complete a pre-feasibility study.”