bullish
Tapping into historic NSW tin for new resources
SUMMARY
- Sky Metals Limited (ASX:SKY) is an ASX-listed base metals explorer focused on a portfolio of assets in New South Wales with the most advanced being the Tallebung tin project in central NSW. The company recently made material progress on the expansion of the mineral resource estimate (MRE) at Tallebung which positions it to be scoped for a bulk-mining operation.
- SKY says it is now planning a further drilling programme on a defined exploration target of approximately 23Mt-32Mt at a grade of between 0.14%-0.17% tin to build out the indicated resource for the mine scoping studies.
- The cash balance of $1.12m at the end of December 2023 suggests to us that the company may need to raise capital to complete its programme.
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- Tapping into historic NSW tin for new resources29 Feb 2024
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