16th Jul 2014 09:09
LONDON (Alliance News) - Tri-Star Resources PLC Wednesday said it has made a new discovery and sees significant upside potential at its Bald Hill antimony deposit in New Brunswick, Canada, following an exploration programme.
Tri-Star shares were up 18% to 0.200 pence, putting them top of the AIM All-Share risers on Wednesday.
The integrated antimony development company said trenching as part of an exploration programme carried out in May and June on the Bald Hill site found a new area of antimony mineralisation grading 9.04% antimony over a 2.6 metre space 1 kilometre from its main deposit.
Antimony is a metal used in electronics and plastics manufacturing.
The company said that geochemical surveys, carried out during 2013, show a potential 800 metre length to the discovery, bringing its overall Bald Hill deposit trend region to an indicated length of 2.2 kilometres.
Tri-Star said the next target for exploration in the area is its Bond Road target, where previous studies have indicated another significant mineralised trend about 4 kilometres from the main deposit.
The Bald Hill deposit continues to move through the development curve after a 2013 report indicated that previous drilling on the site showed an overall potential quantity and grade in the 725,000 to 1,000,000 tonne range, grading 4.11% to 5.32% contained antimony.
By Tom McIvor; [email protected]; @TomMcIvor1
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