Elementos Limited (ASX: ELT) has initiated diamond drilling at its wholly-owned Cleveland Tin Project near Waratah, Tasmania, targeting a shallow copper, gold, silver, and tin deposit.
The drilling program consists of three approximately 200-metre holes, totalling around 600 metres, aimed at exploring extensions to the high-grade copper-gold intersection discovered in hole C2123 during the 2024 drilling campaign.
The target, identified through downhole electromagnetic (DHEM) results announced in January 2025, begins at a depth of only 70 metres below the surface.
It has been modelled with an approximate depth of 60 metres and an interpreted strike length between 80 and over 150 metres.
Further analysis of historic geophysical survey data has revealed a strong correlation with both ground magnetic (2017) and helicopter airborne EM (2002) anomalies.
Managing Director Joe David expressed enthusiasm about the project, stating: “This shallow target is located close to, yet separate from, the historic tin mine with its large resource base of tin, copper, tungsten, and critical minerals.”
He added that the current geological interpretation suggests potential for a shallow, high-grade stratiform volcanic massive sulphide (VMS) style of mineralisation.
The target’s proximity to a previously reported high-grade, near-surface copper, gold, silver, and zinc intercept from the 2024 drilling program has further heightened interest.
The alignment of three separate geophysical datasets has led to the modelling of this promising target.
David emphasised the timeliness of the drilling program, noting: “The current commodity price strength in the global tin, copper, gold, and silver markets makes this a must-drill target for the company.”
This development comes as Elementos continues to advance its two tin projects, with the Cleveland Project in Tasmania complementing its flagship Oropesa Project in Spain.
The company aims to capitalise on the growing demand for tin, driven by its critical role in electronics and the green energy transition.
