Stellar Resources Announces Granting of NE Tasmania Exploration Licenses

ASX announcement – Stellar Resources (SRZ), 23 August 2021

NE Tasmania Exploration Licences Granted

Stellar Resources Limited (ASX: SRZ, “Stellar” or the “Company”) is pleased to announce that it has recently been granted 8 Exploration Licences over an area of 1,899 km2 in North East Tasmania which is highly prospective for Victorian-style Orogenic Gold, Intrusive Related Gold Systems (IRGS) and additionally contains historical tin occurrences.

Highlights:
• 8 Exploration Licences (EL’s) over a total area of 1,899 km2 granted to Stellar’s wholly owned subsidiary, Tarcoola Iron Pty Ltd.
• The granted EL’s, and Stellar’s remaining 4 EL applications in NE Tasmania are highly prospective for
Victorian-style Orogenic Gold and for Intrusive Related Gold Systems (IRGS).
• There are 51 recorded gold occurrences and 22 recorded tin occurrences on the granted EL’s and a further 26 recorded gold occurrences and 3 recorded tin occurrences on Stellar’s remaining 4 EL applications in NE Tasmania.
• A number of desktop orogenic and IRGS gold exploration targets have been identified by Stellar’s technical team using full GIS targeting capability including: reprocessed aeromagnetic, radiometric and gravity data, geological mapping, recorded gold and tin occurrences, historic drilling and geochemical data. A number of tin targets have also been identified.
• Stellar’s Tasmanian geological team is currently being expanded and the Company expects to commence fieldwork on the granted EL’s during CY2021 Q4 including site reconnaissance visits, rock chip and soil geochemistry sampling over identified desktop targets.
• The granted EL‘s were included in 10 EL applications lodged by Stellar in September 2020. Processing of the remaining two September 2020 EL applications over the Beaconsfield South and Scamander areas (combined area of 384 km2) is nearing completion and the Company expects these 2 licences to be granted during September 2021.
• Two further EL applications were lodged by Stellar in March 2021 covering a combined area of 240km2 in the South Scamander, Pyengana and Quakers Ranges areas. The company expects these 2 further EL’s to be granted by around the end of January 2022.

Executive Director Gary Fietz commented: “We are delighted to have recently been granted the first 8 of our 12 EL’s applied for in NE Tasmania and are now looking forward to commencing fieldwork. We now have plenty to get on with exploring on the large area granted while processing of the remaining 4 applications is completed. The ground is highly prospective for Victorian-style gold and IRGS gold exploration targets in relatively under-explored NE Tasmania within the continuation of the Victorian Western Lachlan Fold Belt. Stellar will continue to advance its flagship Heemskirk Tin project, where drilling is currently underway, as its top priority whilst commencing exploration for gold and tin on the recently granted EL’s in NE Tasmania.”

Read the full ASX announcement here.