Metals X has reported a 22% increase in the total mineral resource and a 43% increase in proven and probable reserves at its 50% owned Renison mine in Tasmania. The company reports its mineral inventory twice a year and the latest increase in reserves reflects the completion of mining studies on newly added resources over the last year.
The total resource at Renison is now evaluated at 11.5 million tonnes at 1.65% tin for 190,100 tonnes of contained tin. Including tin resources in Renison tailings and at the closed Mt Bischoff and Collingwood mines, the total inventory reported by the company amounts to 303,900 tonnes.
Reserves at Renison amount to 5.51 million tonnes at 1.38% Sn or 75,800 tonnes contained tin, equating to nearly eight years life at current plant capacity. The Rentails reserves amount to 20.2 million tonnes at 0.45% Sn for 90,700 tonnes contained metal.
The Renison mine produced 6,152 tonnes of tin-in-concentrate in 2013. Metals X CEO Peter Cook commented: “This is a great result for the Renison mine which positions the operation for long term sustainable production. The Renison mine is in the best position in three decades from a resource and reserve inventory perspective which vindicates the intensive exploration strategy taken by the joint venture partners over the past three years”.
