PRESS RELEASE
10 JANUARY 2013
HIGH GRADE TIN RESULTS
EXTEND RENISON ORE
SYSTEM
Metals X is pleased to announce that continued underground exploration activity
at its 50% owned Renison tin mine has defined new zones of high-grade tin
mineralisation beyond the boundaries of the current resource, and has also
highlighted significant opportunities above existing development which were
unrecognised by previous operators and now provides the opportunity for rapid
conversion to reserve.
In the North Renison area an extensional program targeting additions to the
Huon North Zone has intercepted significant grades up to 90m along-strike
from the current resource boundary, with a best result of 10.53m @ 5.24% Sn in
U4639. Significantly Huon North remains open both along-strike and up-plunge.
Hole No.
Intercept N Intercept E
Intercept
RL
Intercept
(True Width)
From
U4634
67048.1
44380.8
1541.2
2.22m @ 1.57% Sn
110.30
U4636
67077.9
44394.9
1512.9
2.08m @ 4.44% Sn
140.60
U4637
67141.6
44394.4
1509.6
5.68m @ 3.34% Sn
198.12
U4637
67149.1
44397.2
1509.3
1.93m @ 1.86% Sn
207.00
U4638
67061.8
44407.3
1490.9
7.52m @ 0.63% Sn
135.70
U4639
67114.2
44408.1
1480.2
10.53m @ 5.24% Sn 182.45
Table 1 – Huon North significant results.
Metals X Limited is a diversified group
exploring and developing metals and
minerals in Australia. It is Australia’s
largest tin producer and holds a pipeline
of assets from exploration to production,
including two gold development projects
and the world-class Wingellina Nickel
Project.
CORPORATE DIRECTORY
ASX Code: MLX
Level 3, 123 Adelaide Tce
East Perth WA 6004
Australia
GPO Box 2606
Perth WA 6001
Australia
t: +61 8 9220 5700
f: +61 8 9220 5757
[email protected]
www.metalsx.com.au
Sligo
Federal Surface
Dreadnought
Eldon
Howard
Clarke
Cascade
King Dundas
Romulus
North Stebbins
Stebbins South
Upper 2000 RL
North King
1900 HW
Drill Drive
RRKKB
Lower Envelope
South
Bassett
Open
Polaris
Envelope
Open
Decline
Pieman
Mid Federal
North Bassett
Blackwood
Central Federal
Bassett
1750 RL
1665 HW Drill Drive
Bruny
Wedge
Waratah
Open
Zeehan
1500 RL
Zeehan
Deep Federal
South
1430 North HW Drill Drive
Cruncher
Huon
1414 HW Drill Drive
Huon North
Area 4
Deep Huon
Open
Granite
Dalcoath Member
Open
Recent Drillhole
Resource
Exploration Area
Mined Out Area
Existing Development
1250 RL
Open
Deep Federal
Rendeep North
Area 4 Down Plunge
1000 RL
0M
Open
100 M
200 M
300 M
South
400 M
500 M
North
750 RL
67250 N
67000 N
66750 N
66500 N
66250 N
66000 N
65750 N
65500 N
65250 N
Figure 1 – Renison overview showing location of recent drilling.
Bruny
Open
Zeehan
U4637 5.68m at 3.34% Sn
1.93m at 1.86% Sn
U4636 2.08m at 4.44% Sn
1500 RL
U4638 7.52m at 0.63% Sn
U4639 10.53m at 5.24% Sn
Huon
1375 RL
Deep Huon
Mineral Resources
Ore Reserves
Mined Out Area
Recent Drillhole
Exploration Area
Existing Development
Proposed Development
0M
25 M
50 M 750 M 100 M 125 M
South
1250 RL
North
67125 N
67000 N
66875 N
66750 N
Figure 2 – Huon North recent results.
HIGH GRADE TIN RESULTS EXTEND RENISON ORE SYSTEM
PRESS RELEASE
2
In the Central Federal Bassett (CFB) area, resource definition drilling continues to return strong results including
4.18m @ 5.26% Sn in U4625, reinforcing Metals X’s belief that a new, independent production area, located 20 metres
from existing decline infrastructure will be delineated with ongoing work. Any production from the CFB will likely provide
significantly increased operational flexibility.
Hole No.
Intercept N
Intercept E
Intercept RL
Intercept
(True Width)
From
U4630
66207.24
44472.41
1631.424
3.5m @ 0.99% Sn
119.30
U4624
66095.09
44467.51
1613.549
1.99m @ 2.25% Sn
79.00
U4624
66089.33
44488.7
1606.457
5.75m @ 0.8% Sn
102.00
U4624
66086.48
44498.78
1603.113
4.24m @ 0.91% Sn
113.00
U4625
66091.82
44479.58
1633.33
4.18m @ 5.26% Sn
87.74
U4628
66130.25
44412.09
1629.27
2.04m @ 1.21% Sn
23.05
U4628
66172.26
44470.55
1603.267
0.98m @ 2.69% Sn
99.59
U4629
66139.71
44449.03
1632.418
3.03m @ 2.85% Sn
59.00
U4629
66146.92
44467.63
1630.981
5.21m @ 1.16% Sn
79.00
U4629
66150.35
44476.67
1630.289
7.01m @ 1.28% Sn
88.70
U4626
66116.27
44431.05
1648.923
1.04m @ 2.68% Sn
37.90
U4626
66117.51
44456.39
1656.231
12.15m @ 0.89% Sn
64.31
U4663
66139.94
44436.42
1589.858
0.99m @ 2.89% Sn
67.00
U4663
66147.63
44451.29
1573.814
2.27m @ 0.3% Sn
90.19
U4631
66140.62
44427.35
1648.468
1.48m @ 4.15% Sn
41.52
U4631
66157.05
44451.53
1656.039
2.67m @ 0.84% Sn
71.72
U4631
66162.40
44459.46
1658.479
5.03m @ 0.81% Sn
81.59
Table 2 – Central Federal Bassett significant results.
1750 RL
U4631 1.48m @ 4.15% Sn
2.67m @ 0.84% Sn
5.03m @ 0.81% Sn
U4626 1.04m @ 2.68% Sn
12.15m @ 0.89% Sn
U4625 4.18m @ 5.26% Sn
U4630 3.5m @ 0.99% Sn
U4624 1.99m @ 2.25% Sn
5.75m @ 0.8% Sn
4.24m @ 0.91% Sn
U4628 2.04m @ 1.21% Sn
0.98m @ 2.69% Sn
U4663 0.99m @ 2.89% Sn
2.27m @ 0.3% Sn
U4629 3.03m @ 2.85% Sn
5.21m @ 1.16% Sn
7.01m @ 1.28% Sn
Mineral Resources
Recent Drillhole
0M
Exploration Area
Ore Reserves
25 M
50 M 750 M 100 M 125 M
1500 RL
Existing Development
Mined Out Area
1625 RL
South
Proposed Development
North
66375 N
66250 N
66125 N
66000 N
Figure 3 – Central Federal Bassett recent results.
HIGH GRADE TIN RESULTS EXTEND RENISON ORE SYSTEM
PRESS RELEASE
3
These results follow-on from the announcement of October 25, 2012 which detailed the definition of strong stratabound
skarn style mineralisation on the down-thrown hangingwall of the Federal Bassett Fault to the north of, and outside of the
known mineral resource (ie. U4640A 13.41m @ 1.28% Sn and U4647 6.47m @ 1.98% Sn).
Renison Bell
Schematic Cross Section
Approximate
Position S1656
Mine Complex
lt
Untested
ge
Ar
2000mRL
?
u
Fa
nt
Fede
Stratabound - Production to date ~145,000t Sn
? ?
se
Bas
Renison Mine
Sequence
ult
Crimson Creek Formation
tt Fa
Stratafault / Other –
Production to date
~75,000t Sn
Granite
1500mRL
Deep Stratafault /
Stratabound
extensions
ral
4.7m at 5.12% Sn
Dalcoath Member
Dolomite 1
Dolomite 2
Dolomite 3
1000mRL
Untested
Downthrown Stratabound # 2 Dolomite intervals
U4640A 13.41m @ 1.28% Sn & 0.08% Cu
U4646 2.87m @ 1.07% Sn & 0.25% Cu
U4647 1.17m at 7.36% Sn and 0.03% Cu &
6.47m at 1.98% Sn and 0.17% Cu
Dreadnought Hill Member
Planned
Red Rock Member
Mineralisation
Fault
?
SW
?
0
200
?
?
?
100
300
400m
?
43500mE
?
?
?
?
?
?
?
?
?
44500mE
Renison Bell
Member
NE
Figure 4 – Renison Bell Schematic Cross Section
This ongoing exploration success clearly demonstrates the significant upside potential at Renison, which remains
Australia’s only world class tin deposit and is Australia’s only tin producer.
ENQUIRIES
Peter Cook
Executive Director & CEO
e: [email protected]
COMPETENT PERSONS STATEMENT
The information in this report that relates to Exploration Results is compiled by Metals X technical employees under the
supervision of Mr Jake Russell B.Sc. (Hons), who is a Member of the Australian Institute of Geoscientists. Mr Russell is a
full-time employee of the company. Mr Russell has sufficient experience, which is relevant to the style of mineralisation
and type of deposit under consideration and to the activities he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves”. Mr Russell consents to the inclusion in the report of the matters based on his information in the form and
context in which it appears.
HIGH GRADE TIN RESULTS EXTEND RENISON ORE SYSTEM
PRESS RELEASE
4