Taronga Mines Ltd has recently added to its tin interests through the acquisition of adjoining deposits from YTC Resources and is planning a listing of its shares on the ASX early next year. The company’s main asset is the Taronga deposit in New South Wales – a large scale, low grade orebody identified in the 1980s. The deal with YTC Resources adds the nearby Torrington and Pound Flat deposits to its portfolio. In return YTC Resources has acquired some 25% of Taronga’s issued shares and has also been issued with substantial share options. YTC has retained ownership of its Tallebung and Doradilla tin projects.
The Taronga project, near Emmaville in north eastern NSW was studied by Newmont in the early 1980s, but was put on hold awaiting higher tin prices. A resource of some 38 million tonnes of ore, grading 0.153% Sn and containing just over 57,000 tonnes of tin was identified and a pre-feasibility study was based around the treatment of 3.7 million tpy of ore.
