Terra Uranium (ASX: T92) has identified significant high-grade gold, silver, and tin intercepts following a review of historical data from the Ottery tin mine in New South Wales. The analysis of drilling activities between 1983 and 2011 revealed that the extent of mineralization at the hard-rock mine had not been fully explored, particularly in low-grade zones between the main high-grade lodes. Notably, twenty holes drilled by Electrolytic Zinc (now part of Rio Tinto (ASX: RIO)) between 1994 and 2011 at the Crystal Tuff target showed wide zones of tin mineralization, with a best assay of 203 meters at 0.057% tin from the surface, including 18m at 0.13% tin from 27m.
Further drilling in 2007 returned significant shallow results, including 42m at 0.35% tin from 15m, 36m at 0.26% tin from 29m, and 42m at 0.38% tin from 31m. Holes completed in 2007 and 2009 also yielded strong results for gold and silver, with highlights of 24m at 2.01g/t gold from 48m and 11m at 13.8g/t silver from 130m. Terra Uranium plans to conduct an initial exploration program following the acquisition of LCT Metals, which owns the exploration licenses for Ottery and other projects. The company will compile existing data and plan a drilling program for the second quarter, funded by a recent $500,000 share placement.
