CONSOLIDATED TIN MINES LIMITED ANNOUNCEMENT
08 October 2015
ASX/MEDIA RELEASE
Consolidated Tin Mines Limited
ABN: 57 126 634 606
Phone: +61 (7) 4032 3319
info@csdtin.com.au www.csdtin.com.au
Snapshot:
ASX CODE: CSD
◊
ABOUT CSD
Consolidated Tin Mines (ASX: CSD) is a base metal producing company with a significant tin project in advanced stage DFS
◊
SHARES ON REGISTER
279,770,521
TOP 5 SHAREHOLDERS
Current CSD Share Price: $0.042
Current LME Price Tin: US$15,825
Zinc: US$1,636 Copper: US$5,175 Lead: US$1,619
Consolidated Tin Mines Limited (ASX: CSD) is pleased to provide an update on the Einasleigh Exploration Program under the farm‐in agreement between Snow Peak Mining Pty Ltd and
Snow Peak Int'l
22.8%
Wanguo International Mining Group (Wanguo)(The agreement transfers to CSD as part of the
st
ARM (NQ) Pty Ltd
10.4%
Asset Sale Agreement (ASA) set out on a notice of meeting on 1
December 2014)
Ralph De Lacey HSBC Cust Ltd Baoxian Ji
◊
OBJECTIVE
5.8%
2.8%
1.9%
Results from drill hole number KB150 have identified a significant intercept of massive sulphide mineralisation (Refer to core photographs in Appendix 1) of chalcopyrite, pyrrhotite, pyrite, and minor galena, sphalerite and magnetite. This mineralised intercept commenced at 102 meters down hole with the intersected mineralisation length continuing for 170 meters @ average of 0.6% Cu, to 272 meters down hole. The hole was drilled to a depth of 288.1 meters.
To become a fully diversified producer of base metals in concentrate and to develop the tin project through to production thus minimising metal price fluctuation risk
◊
STRATEGY
To develop and establish tin production and focus on increasing mine life and production profile by developing other tin and base metal production opportunities within the broader Mt Garnet/ Greenvale/Einasleigh region
Registered Office:
395 Lake Street,
Cairns North, QLD, 4870 Ph: +61 (0) 7 4032 3319
Highlight assays include:- 9m @ 1.23% Cu and 0.12 g/t Au from 142m depth down hole including 4m @ 2.4% Cu
- 30m @ 1.03% Cu and 0.17g/t Au from 157m depth down hole
-
24m @ 1.25% Cu and 0.28 g/t Au from 201m depth down hole including 5m @ 2.79% Cu
Further assay details are provided in Appendix 2
Kaiser Bill had a previous JORC resource (based on the JORC code 2004 edition) of 13,500,000 indicated tonnes at 0.8% Cu, 0.1 g/t Au, 6 g/t Ag and 1,500,000 inferred tonnes at 0.9% Cu, 0.1 g/t Au and 11 g/t Ag.9 (Refer Kagara Limited ASX release 25 October 2011) Further work on structural interpretation and assessment of existing drilling data is underway to develop a follow up drilling program to explore for further potential mineralisation and to update the JORC resource to the current 2012 guidelines.
Further ground base IP and magnetic surveys are planned for the known resource areas of Kaiser Bill, Chloe/Jackson, and also within the Surveyor/Balcooma areas. Several drill targets were identified with an initial drill program of 2,300meters commenced in July 2015. Further near term drilling plans will focus on Kaiser Bill, Chloe and Jackson extensions as well as infill drilling to focus on potential high grade areas and to advance existing inferred and indicated resources to indicated and measured status.
Page | 1
This area forms part of the Regional Exploration drilling program on an identified resource known as 'Kaiser Bill' within the Einasleigh District, situated approximately 290kms west‐northwest of Townsville and 250km southwest of Cairns in North Queensland. John Banning, Managing Director, states 'The significant intercept and results confirm to the company the upside potential of the Kaiser Bill resource contained within the Einasleigh Project area and the potential for existing high class resource increase and future resources to be located within this area.'
Summary of ResultsKB 150 was collared at 186814E, 7948718N (MGA94z55) with an Azimuth of 203 Degrees and targeted to intersect the north‐east dipping Hill Fault with the south‐west plunging main Kaiser Bill Deposit. The Kaiser Bill sulphide resource dips south at approximately 30 degrees, and plunges to the west‐south‐west, therefore KB150 drilled partially down‐dip and partially down‐plunge.
Hole_ KB150
Northing (m) 7948718N
Easting (m) 186814E
RL (m) 483
EOH(m) 288.1
Dip
‐60
Azi
203 Degrees
FROM:
TO:
INTERVAL:
%Cu
g/t Ag
g/t Au
KB150
102
105
5
0.79
0.0
0.07
KB150
110
117
7
0.75
4.7
0.09
KB150
124
137
13
0.92
4.8
0.16
KB150
142
151
9
1.23
7.2
0.12
Includes
143
147
4
2.40
16.0
0.24
KB150
157
170
13
0.82
1.5
0.14
KB150
157
187
30
1.03
1.8
0.17
KB150
201
225
24
1.25
5.8
0.28
Includes
215
220
5
2.79
17.6
0.66
KB150
233
240
7
0.81
0.6
0.22
KB150
254
271
17
0.87
2.2
0.15
About Consolidated Tin Mines LimitedConsolidated Tin Mines is finalising the acquisition and transfer of all assets held by SPM under an Asset Sale Agree (ASA) set out in a notice of meeting released to ASX on 1st December 2014 . When complete the Company will become a base metal producing company producing Zinc, Lead and Copper concentrates with a Silver co‐ product. During the transitional period the company manages the SPM operations which produce polymetallic ore with the ore processed at the Mount Garnet concentrator located approximately 140km south west of Cairns in Northern Queensland. As part of the acquisition of SPM assets the company is actively exploring within the highly prospective Einasleigh/Greenvale area in North Queensland held by SPM through a free carry farm in agreement. The company is also a focused tin explorer and developer. Its major tin development project, comprised of the Gillian and Pinnacles deposits, is located at Mount Garnet in North Queensland. All CSD projects are located in established mining areas in close proximity to the company's owned and operating concentrating infrastructure.
Wanguo International Mining GroupWanguo is a Hong Kong listed public company and is principally engaged in the business of mining, with an operating copper mine in the Jiangxi Province, China. Wanguo's farm in to earn a 50% interest requires them to develop an additional 20 Mt JORC Measured Resource or complete 150,000m of drilling on the exploration areas.
Wanguo has and will continue to fund and manage all exploration activity as well as be responsible for all costs, environmental and reporting requirements.
Wanguo commenced ground exploration activities in November and December 2014 focusing initially on the Surveyor‐Balcooma and Einasleigh district tenements. The team returned in May 2015 with a team of eight experienced technical personnel.
Competent Person's StatementThe information regarding the exploration activities and information set out in this ASX Release is based on information compiled by Mr Terry Lees, a Competent Person, who is a consultant to the Wanguo exploration program, and a Fellow of Australian Institute of Geoscientist. Mr Lees has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to quality as a Competent Person as defined in the 2012 Editions of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Lees consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
For further information please contact: Cairns Corporate Headquarters Phone: +61 (0) 7 4032 3319
Website: www.csdtin.com.au Email: admin@csdtin.com.au
APPENDIX 1
Appendix 2DRILL HOLE ‐ KB 150
From
To
Cu %
Au g/T
Ag g/T
98
99
0.01
99
100
0.03
100
101
0.05
101
102
0.31
3
102
103
0.54
0.02
103
104
0.85
0.08
104
105
0.72
0.07
105
106
1.09
0.12
106
107
0.74
0.07
107
108
0.31
0.04
108
109
0.11
109
110
0.33
0.02
110
111
0.89
0.14
6
111
112
0.76
0.13
6
112
113
0.64
0.05
4
113
114
0.69
0.07
4
114
115
0.86
0.12
7
115
116
0.55
0.05
116
117
0.84
0.06
6
117
118
0.18
118
119
0.22
119
120
0.07
120
121
0.07
121
122
0.09
122
123
0.04
123
124
0.36
0.04
124
125
0.46
0.03
125
126
1.03
0.16
5
126
127
1.82
0.45
6
127
128
0.64
0.09
4
128
129
0.85
0.64
16
129
130
1.88
0.22
14
130
131
1.07
0.06
8
131
132
0.31
0.07
132
133
0.36
0.03
133
134
0.48
0.03
134
135
0.36
0.04
135
136
1.23
0.11
5
136
137
1.45
0.16
5
137
138
0.32
138
139
0.03
DRILL HOLE ‐ KB 150
From
To
Cu %
Au g/T
Ag g/T
139
140
0.03
140
141
0.02
141
142
0.04
142
143
0.48
0.09
143
144
1.60
0.2
11
144
145
1.94
0.1
19
145
146
4.48
0.45
27
146
147
1.45
0.21
8
147
148
0.14
148
149
0.09
149
150
0.42
0.03
150
151
0.49
0.04
151
152
0.32
0.03
152
153
0.11
0.03
153
154
0.24
0.02
154
155
0.03
155
156
0.04
156
157
0.09
157
158
1.04
0.1
9
158
159
1.20
0.19
6
159
160
0.97
0.14
160
161
0.84
0.09
161
162
0.74
0.08
162
163
0.87
0.05
163
164
1.05
0.34
164
165
1.10
0.35
165
166
1.10
0.25
166
167
0.15
0.02
167
168
0.56
0.04
5
168
169
0.38
0.03
169
170
0.69
0.08
170
171
0.19
171
172
0.20
172
173
0.15
173
174
0.32
174
175
0.72
0.1
175
176
0.40
0.05
176
177
0.70
0.11
177
178
2.10
0.41
5
178
179
0.34
0.04
179
180
0.30
0.14
DRILL HOLE ‐ KB 150
From
To
Cu %
Au g/T
Ag g/T
180
181
0.22
0.02
181
182
0.74
0.1
182
183
1.08
0.12
6
183
184
0.44
0.06
184
185
0.50
0.04
185
186
0.61
0.1
186
187
0.55
0.07
187
188
0.07
188
189
0.48
0.05
189
190
0.03
190
191
0.05
191
192
0.14
0.02
192
193
0.51
0.03
193
194
0.26
0.01
194
195
0.06
195
196
0.00
196
197
0.01
0.02
197
198
0.02
198
199
0.01
199
200
0.03
0.02
200
201
0.27
0.03
201
202
0.64
0.19
202
203
0.93
0.24
203
204
1.53
0.33
4
204
205
1.20
0.25
3
205
206
0.58
0.11
4
206
207
0.65
0.18
207
208
1.21
0.25
3
208
209
0.80
0.13
4
209
210
0.59
0.09
3
210
211
1.80
0.35
9
211
212
1.29
0.25
5
212
213
1.42
0.23
5
213
214
0.84
0.12
214
215
0.94
0.22
215
216
1.96
0.44
5
216
217
3.42
0.94
13
217
218
4.42
1.24
30
218
219
1.59
0.29
13
219
220
2.57
0.42
27
220
221
0.10
0.02
DRILL HOLE ‐ KB 150
From
To
Cu %
Au g/T
Ag g/T
221
222
0.12
0.03
222
223
0.02
223
224
0.12
0.02
224
225
1.21
0.42
12
225
226
0.02
226
227
227
228
0.00
228
229
0.02
229
230
0.02
0.03
230
231
231
232
0.00
232
233
0.14
233
234
0.60
0.15
234
235
0.33
0.04
235
236
1.37
0.25
236
237
1.60
0.46
237
238
0.80
0.32
DRILL HOLE ‐ KB 150
From
To
Cu %
Au g/T
Ag g/T
238
239
0.27
0.13
239
240
0.72
0.17
4
240
241
0.06
0.02
241
242
242
243
0.01
243
244
244
245
0.02
5
245
246
0.33
0.04
246
247
0.21
0.21
247
248
0.06
248
249
0.06
249
250
0.02
250
251
0.42
0.05
251
252
0.37
0.09
252
253
0.05
253
254
0.15
0.01
254
255
2.84
0.64
9
DRILL HOLE ‐ KB 150
From
To
Cu %
Au g/T
Ag g/T
255
256
1.03
0.19
256
257
1.03
0.15
257
258
0.67
0.12
258
259
0.50
0.06
259
260
0.50
0.07
260
261
0.56
0.06
261
262
0.66
0.1
262
263
0.63
0.13
263
264
0.33
0.03
264
265
0.16
0.02
265
266
0.68
0.04
5
266
267
0.49
0.05
267
268
0.81
0.23
268
269
0.49
0.16
269
270
2.52
0.45
16
270
271
0.93
0.13
7
271
272
0.36
0.03
7
*
Appendix 3The following information is provided to comply with the JORC (2012) requirements for the reporting KB150 drilling results on tenement EPM 13072
SECTION 1 SAMPLING TECHNIQUES AND DATA
Criteria JORC Code explanation Commentary
Sampling techniques Nature and quality of sampling (e.g. cut
channels, random chips, or specific specialised industry standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used
Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information
Drilling techniques Drill type (e.g. core, reverse circulation,
open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).
Drill sample recovery Method of recording and assessing core
and chip sample recoveries and results assessed
Measures taken to maximise sample recovery and ensure representative nature of the samples
Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Diamond drill core (NQ2 size) was sampled.
Drill core was oriented by the drilling company using a standard Reflex orientation device on the core barrel. The bottom of hole line (BoH) was used to mark where to split the core, and the same side sampled if possible.
Assay intervals are determined geologically; typically 1m intervals, but not more than 1.5m. The whole sample crushed to
Diamond drilling NQ2, with oriented core from standard Reflex core orienting tool.
During logging core loss was documented. In the mineralized interval core loss was insignificant.
No measures, as entire hole is diamond core with good recovery.
No sample bias as all drill core, with very good drill core recovery.
Criteria JORC Code explanation Commentary
Whether core and chip samples have
Logging
been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
The total length and percentage of the
NA. Kaiser Bill has Inferred and Indicated Resources reported by Copper Strike Ltd in 2010.
Logging is conventional qualitative; all core is photographed.
relevant intersections logged All core islogged.
Sub-sampling techniques and sample preparation
If core, whether cut or sawn and whether quarter, half or all core taken.
If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
For all sample types, the nature, quality and appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
Core is sawn along 'BoH' orientation line (if present), and half core taken.
NA.
Diamond sawing of core and sampling half core is appropriate.
The current QAQC regime involves the submission of one blank sample and one certified low grade sample, at random intervals but averaging every 30 samples. QAQC standards are also used in-house by the laboratory.
Quality of assay data and laboratory tests
Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain size of the material being sampled.
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
The drill hole targeted a specific intersection of a fault and the main sulphide deposit. The hole was not designed to drill across strike, and was drilled partly down dip and partly down plunge.
Half core is appropriate.
Dissolution by 4 acids is considered 'near-total' digestion. Au by fire assay and ICP up to ore grade for base metals is appropriate.
No geophysical tools or XRF instruments were used for any results in this report.
Criteria JORC Code explanation Commentary
Quality of assay data and laboratory tests continued
Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
The current QAQC regime involves the submission of one blank sample and one certified low grade sample, at random intervals but averaging every 30 samples. QAQC standards are also used in-house by the laboratory.
Accuracy and precision are at an acceptable level. External laboratory checks will be undertaken as more results are returned.
Verification of sampling
and assaying The verification of significant intersections by either independent or alternative company personnel.
Significant intersections were not checked by an independent company or person. Assay results were checked against logging as a validation.
The use of twinned holes. Not at this time.
Documentation of primary data, data
entry procedures, data verification, data storage (physical and electronic) protocols.
In accord with the company's 'Exploration Procedures Manual'.
Discuss any adjustment to assay data. No adjustments to assay data.
Location of data points Accuracy and quality of surveys used to
locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
Hole collar located with GPS. KB150 is a few metres from an earlier, accurately surveyed drill hole collar. The hole was surveyed with single shot down-hole device, normally every 30m.
Data spacing and
Specification of the grid system used. MGA94 zone55
Quality and adequacy of topographic
control. Topographic coverage is adequate.
KB150 targeted the intersection of fault with the main
distribution Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been
sulphide deposit, and reflects the partly down-dip and down- plunge orientation of the drill hole. KB150 is drilled within the previous defined Inferred and Indicated resources.
NA; as an exploration hole. However the hole may help establish continuity in a future resource calculation.
Orientation of data in
applied. No.
The hole targeted a fault intersection, thought from evidence
relation to geological structure
Whether the orientation of sampling
achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
of other, surrounding holes to be a locus of high grades. KB150 tested this intersection appropriately, with the fault intersected 124-127m, but the fault here appears not to be particularly well mineralised.
KB150 targeted the intersection of the fault with the main sulphide deposit, the broad intercepts in KB150 reflects the partly down-dip and down-plunge orientation of the drill hole.
Sample security The measures taken to ensure sample security.
Audits or reviews The results of any audits or reviews of
Samples kept in the company's core storage facility until transported by commercial carrier to the lab.
sampling techniques and data. No audits have beenconducted
SECTION 2 REPORTING OF EXPLORATION RESULTS
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status
Exploration done by other parties
Geology
Type, reference name/number, location and ownership including agreements or material issues with third parties including joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
Acknowledgment and appraisal of exploration by other parties.
EPM13072, held by Snow Peak Mining Pty Ltd. Located 250km south west of Cairns. Subject to Assets Sales Agreement to Consolidated Tin Mines Limited, as approved by Company shareholders on 12 January 2015 and farm-in Agreement with Wanguo International Mining Group.
Granted under Private Indigenous Land Use Agreement with Ewamian Native Title Parties.
Significant previous work by Copper Strike Ltd, and before that Teck Cominco.
The host sequence of Kaiser Bill is the Palaeoproterozoic Einasleigh Metamorphics, consisting of amphibolite-grade or higher, calc-silicate, pelitic to psammitic gneiss, amphibolite and leucogneiss, intruded by Permo- Carboniferous felsic dykes.
Deposit type, geological setting and style of mineralisation
Drill hole information A summary of all information material to
the understanding of the exploration results including tabulation of the following information for all Material drill holes:
Easting and northing of the drill hole collar
Elevation or RL (Reduced Level - elevation above sea level in meters) of the drill hole collar
Dip and azimuth of the hole
Down hole length and interception depth
Hole length
Data aggregation methods In reporting Exploration Results,
weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.
Where aggregated intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated
and some typical examples of such aggregations should be shown in detail.
Kaiser Bill in its' current configuration comprises disseminated and stringer sulphides with magnetite, locally to massive sulphide, within a weak but pervasive breccia, astride the contact between leucogneiss (interpreted as a metamorphosed felsic volcanic or intrusive rock) and metasedimentary biotite gneiss. Geometry, textures and alteration indicate the deposit is a syn-metamorphic replacement of both units the deposit straddles; leucogneiss and biotite gneiss. Silica-chlorite-magnetite alteration is intimately associated with mineralisation.
KB150 collar: 186814E, 7948718N (MGA94z55), RL 483m.
Az 203˚AMG, -60˚, total length 288.1m. Down hole intercepts in Table 1.
None applied.
Intercepts were calculated by summing assays of 1m intervals, and applying a cut-off grade of 0.4% Cu over a minimum 2 metres. The 0.4% Cu cut-off is the same as that used in previous resource calculations by Copper Strike Ltd, the latest in 2010.
Criteria JORC Code explanation Commentary
Data aggregation methods continued.
Relationship between mineralisation widths and intercept lengths
The assumptions used for any reporting of metal equivalent values should be clearly stated.
These relationships are particularly important in the reporting of exploration results.
If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').
No assumptions.
The mineralization intersection is not true width; the hole is drilled partly down-dip and partly down-plunge of the main sulphide deposit.
Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plane view of drill hole collar locations and appropriate sectional views.
Balanced Reporting Where comprehensive reporting of all
Exploration Results is not practical, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
A cross-section of the drill hole is not included as would not be representative of the deposit.
This reports on one hole only.
Other substantive exploration data
Further Work
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observation; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large - scale step - out drilling).
Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
Covered by earlier resource reports.
One further drill hole KB151 has been completed and results awaited. Further drilling is planned and waiting approval.
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