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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (35955)	4/23/2009 2:47:59 PM
From: LoneClone	Read Replies (1) \| Respond to of 194042

Consolidated Tin Mines upgrades resource Mt Garnet Tin to 5 million tonnes proactiveinvestors.com.au Consolidated Tin Mines Ltd (ASX:CSD) is pleased to announce a major JORC resource upgrade at the Company’s Mt Garnet Tin Project, in the lower Herberton tin field in North Queensland. This brings the total Measured, Indicated and Inferred Resource to 5.3 M tonne @ 0.6% Tin (Sn). Key points - Major JORC resource upgrade at Mt Garnet Tin Project to 5.3Mt @ 0.6% Tin - Gillian project resource of 3.0Mt @ 0.8% Tin represents a 0.7 Mt increase from Company’s Gillian maiden resource of 2.3Mt @ 0.8% Tin - Pinnacles project resource of 1.9Mt@ 0.4% Tin is a new Company resource from within this project area. - Deadmans Gully resource of 0.4Mt@ 0.5% Tin represents a tonnage upgrade of 0.37Mt from Company’s maiden resource of 33,000t @0.8% Tin - Resource upgrade includes a Measured Resource of 724,700t @ 0.81 Tin at Gillian project area - Resource statement also includes a maiden JORC iron resource of 5.3Mt @ 26.5% and a fluorine JORC resource of 960,000t @ 15.3%F - Mineralisation remains open at depth and along strike in all directions - Goal is to establish 8-10Mt JORC Resource and plan for a centrally located mill with 1Mtpa throughput to produce 5,000t tin metal pa over an initial 8-10yr mine life Consolidated Tin Mines managing director Mr Ralph De Lacey said: “This resource upgrade is an excellent result for the Company, and the drilling programs have been very successful in testing the extent of mineralisation at our project areas and show that all remain open at depth and along strike in all directions.” “We now have great confidence that further drilling will significantly increase the project area’s resource size, and improve the resource category,” he said. The new resource upgrade represents a substantial increase from the Company’s maiden JORC Resource statements as well as a substantial new resource from within the pinnacles project. The project area is also highly prospective for iron mineralisation, and in addition to the tin resource the drill programs also assayed for iron and the Company is now pleased to also announce a maiden iron JORC resource of 5.3Mt @ 26.5%Fe. The Company’s goal is to establish an 8 to 10 Million tonne JORC Resource at average grade 0.5% Sn. This will give confidence to commence planning a centrally located mill with one million tonne per year throughput producing 5,000 tonne of tin metal pa with an initial minimum 8 to 10 year life. Also, at the Pinnacles Project, Consolidated Tin has confirmed a fluorine JORC resource of 960,000@15.3%F. Importantly, drilling has not closed-off mineralisation depths or strike extents at any of the project areas and the inferred resources announced in this JORC resource statement highlight the areas where further drilling will be directed. Mineralisation is estimated at over a strike1km at the Gillian project and over 700 metres at the Pinnacles project. Consolidated Tin Mines Consolidated Tin Mines is an exploration company with holdings in one of the premier tin producing fields of Australia, and is focused on discovering and developing major tin deposits in northern Queensland.