Sky Metals Confirms Further Intercepts at New South Wales Project; Shares Down 6%

MT Newswires Live07-20 10:06

Sky Metals (ASX:SKY) said new drilling at its Tallebung project in New South Wales showed "significant potential" to expand the asset's mineral resource, according to a Monday filing with the Australian bourse.

New intercepts include 29 meters at 0.31% tin and 0.04% tungsten from 27 meters; one meter at 4.32% tungsten and 0.08% tin from 66 meters; three meters at 1.16% tin, 0.15% tungsten, and 10.6 grams per tonne grade of silver from 75 meters; and 26 meters at 0.27% tin, 0.07% tungsten, and 23.3 g/t silver from 27 meters.

The new results fall outside the project's recently upgraded mineral resource estimate and will be evaluated for addition in future resource updates, the company said.

It added that further drilling is due to start in the coming weeks, and a pre-feasibility study for Tallebung remains on track for completion in July.

Sky Metals shares fell over 6% in recent Monday trade.

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