Other North-east Tasmanian Tin Projects
Minemakers holds 100% equity over two major tin deposits, at Anchor and the rest of the surrounding Blue Tiers tin district, inland of St Helens, and the Great Pyramid deposit at Upper Scamander.
The upland Blue Tiers area was a very productive alluvial field, but for conservation reasons, is not being assessed by Minemakers. Anchor produced some 3,800 tonnes of tin and, at one time in the late 1800s, was reputed to be the largest open cut tin mine in the world.
Both have extensive drilling bases resultant from rigorous exploration efforts prior to the tin price crash of the early 1980s.
Great Pyramid
Tin
Depending on cut-offs used, mineralization was previously estimated at between 3.0 and 8.3 Mt @ 0.22% - 0.19% tin. The system is open in all dimensions and its location on a hill and a ridge favours the economics of an open cut mining operation.
At listing, that grade was clearly insufficient to justify mining and processing at the then tin price. However, the tin price rose steadily through all of 2007 and it became necessary to determine likely operating and capital costs for a new operation so that the necessary tin price could be determined.
Lycopodium Engineering was contracted to produce a scoping study for capital and operating costs for both 1Mtpa and 2Mtpa operations, using both new and second hand equipment. It found that a further improvement in tin price would be required before the development could be justified.
Anchor
Tin (Tungsten)
Lycopodium Engineering again produced scoping operation and capital costs for a new open cut operation at Anchor. It found that, on a tin alone basis, start-up is unjustifiable at current prices. However, field observations and some historic study data indicates potential for co-product tungsten, copper and molybdenum mineralization.
It is intended that old drill core be assayed for these elements and other potential by-product and the Company is awaiting Government licensing of its analytical equipment – expected in early 2008.