Stellar Resources Adds 122km² with Up to 8.1% Tin at Granite Tor Project
Stellar Resources has secured 100% ownership of the Granite Tor Project in northwest Tasmania, adding a promising tin and rare earth elements exploration asset adjacent to its Heemskirk Project. Historical sampling highlights significant tin and cerium anomalies, setting the stage for further exploration.
- Acquisition of Granite Tor Project (EL6/2023) in NW Tasmania
- Historical stream sediment samples show up to 8.1% tin and 9.6% cerium
- Granite Tor lies within a world-class tin province near Renison Mine and Heemskirk Project
- No drilling conducted yet; exploration planned to validate targets
- Deal includes cash and share payments with performance-based share issuance
Strategic Expansion in Tasmania's Tin Belt
Stellar Resources Limited (ASX – SRZ) has announced a significant step in its growth strategy by acquiring 100% of the Granite Tor Project, an exploration licence covering 122 square kilometres in northwest Tasmania. This acquisition complements Stellar’s existing Heemskirk Tin Project and consolidates its presence in one of the world’s premier tin provinces.
The Granite Tor licence is geologically compelling, hosting a continuation of the basement rocks and Devonian granites that underpin major tin deposits such as the Renison Tin Mine and Stellar’s own Heemskirk Project. Positioned on the eastern side of the Mount Read Volcanics, the area features favourable structural settings that historically have been associated with tin mineralisation.
Promising Historical Geochemical Indicators
Historical exploration data, primarily from the late 1970s and early 1980s, reveals encouraging signs of mineral potential. Stream sediment sampling returned tin concentrations as high as 8.1% Sn, while soil sampling delineated a 4-kilometre-long anomaly exceeding 100 parts per million tin. Notably, rare earth element (REE) potential is also evident, with cerium values reaching up to 9.6% Ce in stream sediments. Cerium’s industrial use in catalytic converters adds a valuable dimension to the project’s prospects.
Despite these positive geochemical signals, no drilling has yet been undertaken at Granite Tor, leaving the mineral resource potential untested. Stellar plans to initiate soil and stream sampling programs to verify historical results and refine exploration targets, followed by geophysical surveys and scout drilling to advance the project.
Deal Structure and Strategic Outlook
The acquisition terms include a modest upfront cash payment of $35,000, alongside the issuance of six million Stellar shares subject to a 12-month voluntary escrow. An additional two million shares will be issued upon confirmation of a drill intersection meeting specified tin grades. This structure aligns incentives for exploration success while preserving capital.
Stellar’s Managing Director, Simon Taylor, emphasised the low-cost entry point the Granite Tor Project represents and its strategic fit within the company’s broader Tasmanian portfolio. The acquisition expands Stellar’s landholding to over 156 kilometres of prospective ground across its East Renison and Granite Tor projects, feeding into its ambition to become a top 10 global tin producer.
Looking Ahead
While the company continues to advance its Heemskirk Project with ongoing prefeasibility studies and resource drilling, Granite Tor adds a promising pipeline asset for future development. The presence of both tin and rare earth elements could enhance project economics, though further exploration is needed to confirm these opportunities. Stellar’s access to existing mining infrastructure, including MOUs for the Avebury Plant, positions it well to scale production if exploration success is realised.
Bottom Line?
Granite Tor’s acquisition marks a strategic expansion for Stellar, but the path from promising geochemistry to production remains to be charted.
Questions in the middle?
- When will Stellar commence drilling to test the tin and REE anomalies at Granite Tor?
- How might the rare earth element potential influence the project's valuation and development strategy?
- What are the risks and timelines associated with integrating Granite Tor into Stellar’s production pipeline?
