I think this sums up the relationship between the two parties, Mina. MOO is looking at progressing its own plant. It is a shame but it won't impact on the other main tin player in the area. They have their own brown and green fields to explore. No doubt that there's plenty of tin to come out of these areas.
Perhaps once the year is out things might change, meanwhile the copper plant keeps firing.
;-)
Monto Minerals drilling for tin at Governor Norman in Queensland Tuesday, April 01, 2014 by Proactive Investors
Monto Minerals (ASX:MOO) has commenced drilling at the Governor Norman prospect within its Herberton Tin Project in Queensland.
Governor Norman comprises several historic high grade tin mines over a strike extent of 1.2 kilometres.
The initial reverse circulation drilling program includes 9 holes for 700 metres, with immediate follow-up drilling subject to results.
Drilling will test for high grade depth extensions at the Kelly Norman underground mine below 90 metres, and aim to confirm non-reportable results from historic drilling conducted pre-1980.
These results included 22.8 metres at 4.92% tin, which included zones of over 10%; and 28 metres at 1.68% tin.
Broad zones of lower grade tin, and high grade tin shoots, will also be targeted.
Should economic intersections be made, the path to cash flow should be relatively simple, with the former Jumna processing plant located just 2 kilometres to the north.
The Governor Norman area has been historically worked by open pit and underground methods from 1905 until cessation of mining in 1987 due to a collapse in the nickel price.
Total combined historic production was 1,300 tons of tin concentrate at an estimated 1% tin.
MOO Price at posting:
0.6¢ Sentiment: LT Buy Disclosure: Held
