31 Jan 2011 07:00
31 January 2011
Tri-Star Resources Plc
("Tri-Star" or the "Company")
Assay Results
The board of directors of Tri-Star (the "Board") is pleased to announce that the Company has now received all the assay results from the drilling programme completed in December 2010. Having considered the results, despite the area subject to survey representing only a very small part of the Company's licence area, and that additional drilling and evaluation are necessary, the Board is satisfied that the mine contains sufficient antimony (Sb) resources to make mining and processing operations commercially viable. As a result, the Board will immediately begin the process of driving Tri-Star towards commercial production.
The Board is particularly encouraged by indications from the 2010 drilling results that the high grade mineralisation may continue at high levels into areas as yet unexplored. In addition, it is pleased to note that the results indicate that there are layers of high grade mineralisation of 4% to 6% Sb, with areas above 20% antimony, which are significantly above the average mineralisation level.
Unlike many other minerals, the mining and processing of antimony is a relatively simple and low cost operation. Accordingly, the Company will focus initially on antimony, however, the Board does not rule out the exploitation of other minerals if found in commercial quantities.
The Board is in the process of finalising a placing to raise funds for a further detailed assessment of the antimony deposit within the immediate mine area, to extend the drilling programme into new areas of the Company's mining licence and to commence the planning, design and approval process for the construction of a processing plant.
The Company produced both saleable trioxide and antimony metal in 2008 in a third party contract with a smelter. Taking this and the assay results into consideration, the Board considers the project's metallurgical risks to be low.
Enquiries:
Tri-Star Resources Plc Michael Hirschfield
| Tel: +44 (0)844 8157 339 |
Strand Hanson Limited (Nomad) James Harris / Paul Cocker | Tel: +44 (0)20 7409 3494
|
Keith, Bayley, Rogers & Co Limited (Broker) Simon Frost / Brinsley Holman |
Tel: +44 (0)20 3100 8300 |
Additional technical information
The following tabulation shows the drill data from the three holes that were drilled into the high grade mineralisation to the south east of the mine workings down dip from some very high grade pillars. These holes are not representative of the whole area, but part of the Company's scout drilling programme, aiming to define the structure and context of the geology and mineralisation.
Borehole | From | To | Sample Length | Au | Sb |
m | m | m | ppm | % | |
TRI-DH-0001 | 46.60 | 47.60 | 1.00 | 0.112 | 0.05% |
TRI-DH-0001 | 47.60 | 48.60 | 1.00 | 0.043 | 0.04% |
TRI-DH-0001 | 48.60 | 49.60 | 1.00 | 0.116 | 0.05% |
TRI-DH-0001 | 49.60 | 50.30 | 0.70 | 0.224 | 0.14% |
TRI-DH-0001 | 50.30 | 50.50 | 0.20 | 0.645 | 5.71% |
TRI-DH-0001 | 50.50 | 50.60 | 0.10 | 0.445 | 0.31% |
TRI-DH-0001 | 50.60 | 51.70 | 1.10 | 0.347 | 0.17% |
TRI-DH-0001 | 51.70 | 52.80 | 1.10 | 0.385 | 0.44% |
TRI-DH-0001 | 52.80 | 53.60 | 0.80 | 0.255 | 0.05% |
TRI-DH-0001 | 53.60 | 54.70 | 1.10 | 0.017 | 0.03% |
TRI-DH-0001 | 54.70 | 55.70 | 1.00 | 0.336 | 0.15% |
TRI-DH-0001 | 55.70 | 56.70 | 1.00 | 0.149 | 0.19% |
TRI-DH-0001 | 56.70 | 57.70 | 1.00 | 0.117 | 0.05% |
TRI-DH-0002 | 58.95 | 59.70 | 0.75 | 0.093 | 0.26% |
TRI-DH-0002 | 59.70 | 60.70 | 1.00 | 0.149 | 0.96% |
TRI-DH-0002 | 60.70 | 61.70 | 1.00 | 0.119 | 20.80% |
TRI-DH-0002 | 61.70 | 62.00 | 0.30 | 0.132 | 1.22% |
TRI-DH-0002 | 62.00 | 62.70 | 0.70 | 0.174 | 0.93% |
TRI-DH-0002 | 62.70 | 63.00 | 0.30 | 0.13 | 6.70% |
TRI-DH-0002 | 63.00 | 63.85 | 0.85 | 0.105 | 1.65% |
TRI-DH-0002 | 63.85 | 64.70 | 0.85 | 0.08 | 2.89% |
TRI-DH-0002 | 64.70 | 65.00 | 0.30 | 0.045 | 0.91% |
TRI-DH-0002 | 65.00 | 65.20 | 0.20 | 0.043 | 0.08% |
TRI-DH-0002 | 65.20 | 66.00 | 0.80 | 0.11 | 4.76% |
TRI-DH-0004 | 34.70 | 35.20 | 0.50 | 0.053 | 0.62% |
TRI-DH-0004 | 35.20 | 35.60 | 0.40 | 0.029 | 1.96% |
TRI-DH-0004 | 35.60 | 36.20 | 0.60 | 0.032 | 0.74% |
TRI-DH-0004 | 36.20 | 36.70 | 0.50 | 0.361 | 2.47% |
TRI-DH-0004 | 36.70 | 37.00 | 0.30 | 0.006 | 0.31% |
The potential quantity and grade of the mineralisation indicated by the holes can only be conceptual in nature, as there has been insufficient exploration to date to define a mineral resource, and it is uncertain whether further exploration will result in the target being delineated as a mineral resource in terms of reporting codes.
Brian Spratley, the Company's Chief Executive Officer, has relevant experience within the sector and meets the criteria of a qualified person under the AIM note for mining, oil and gas companies and has reviewed and approved the technical information contained in this announcement.