Increase the development of existing cassiterite (tin ore) assets and the exploration of new fields; engagement of Geonomik Pty Ltd to detail the tin potential of the Moolyella project; strong tailwind due to high tin prices.
SunMirror AG (“SunMirror”; XETRA Vienna: ROR1; ISIN CH0396131929) (www.SunMirror.com), the mining and exploration company specializing in commodities such as gold, lithium and other metals and minerals , is stepping up its efforts to discover the potential of tin reserves to meet new demands.
SunMirror hired Geonomik in Perth, Australia to review and lead the Moolyella Project, prospective for tin, lithium and rare earths. A review of the project in 2011/12 confirmed the sampling of reconnaissance rock chips over an area of two square kilometers, revealing the presence of highly abnormal lithium in a significant number of samples analyzed.
After further evaluation of historical data, SunMirror management decided to step up exploration for the very promising Moolyella Tin and Lithium projects in the Pilbara region of Western Australia due to the history, location, the infrastructure and rapid time-to-market history of resources at these sites.
Dr. Heinz Rudolf Kubli, member of the board of directors of SunMirror AG, explains: “Tin price levels are reaching multi-year highs. One of the reasons is the unprecedented demand for tin used in semiconductors. We want to take advantage of the resulting opportunities. “
The Company is targeting very promising exploration ground in the most attractive jurisdiction in the world for mining investment. The Moolyella project is located 23 kilometers northeast of Marble Bar and consists of an exploration permit covering 93 square kilometers. The license is owned by Lithium 1 Pty Ltd, a wholly owned subsidiary of SunMirror, and covers one of Western Australia’s most prolific historic tin, tantalum and lithium production districts. In Australia’s oldest large-scale mining province, artisanal mining mostly took place between 1898 and 1986, meaning the area was never fully explored or drilled deep. SunMirror tin residues are scattered all over the site.
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