Elementos Limited has confirmed significant extensions of tungsten and rubidium mineralisation at its Cleveland Tin Project, with new assay results from historic drill core set to feed into an updated resource estimate due next month.
- New assays from 1980 drill core reveal extended tungsten and rubidium zones
- Updated tungsten Mineral Resource Estimate expected in February 2026
- Metallurgical testing planned for multiple critical minerals including rubidium and fluorspar
- Ore sorting success supports lower cut-off grades and resource expansion potential
- Strong current market prices for tungsten and rubidium underpin project economics
Historic Core Unlocks New Mineral Potential
Elementos Limited (ASX, ELT) has breathed new life into its Cleveland Tin Project in Tasmania with assay results from a previously unsampled 1980 drill hole (C1570). This historic core, stored for decades, has now confirmed significant extensions of tungsten, rubidium, and bismuth mineralisation within the project's upper Foleys Zone. The findings add a fresh dimension to Cleveland’s multi-commodity profile, reinforcing its status as a critical minerals hub.
Resource Update on the Horizon
The company plans to incorporate these new results alongside recent drilling and a re-assessment of 36 historic holes into an updated tungsten Mineral Resource Estimate (MRE) scheduled for release in February 2026. This update is expected to build on the current inferred resource of 3.97 million tonnes at 0.28% tungsten trioxide (WO3), potentially expanding the resource footprint and improving grade confidence.
Advances in Processing and Economics
Supporting the resource upgrade, Elementos reported successful ore sorting tests on bulk samples from the Foleys Zone tungsten mineralisation last year. These results have allowed the company to lower the tungsten cut-off grade from 0.1% to 0.05% WO3, effectively broadening the scope of economically viable mineralisation. Upcoming metallurgical testwork aims to evaluate recoveries not only for tungsten but also for rubidium, molybdenum, bismuth, and fluorspar, all critical minerals with growing demand in high-tech and green energy sectors.
Market Context and Strategic Positioning
Elementos’ Managing Director Joe David highlighted the timing of these developments as particularly favourable, with tungsten and rubidium prices trading at historically strong levels, approximately US$103,000 per tonne for tungsten APT and over US$1 million per tonne for rubidium carbonate. The company is positioning Cleveland as a dual-phase project targeting tin-copper and tungsten-critical minerals, aligning with global supply chain imperatives for electrification and automation technologies.
Geological and Technical Rigor
The drilling and assay work adhere to the Australasian JORC Code 2012 standards, ensuring transparency and reliability. The C1570 hole was drilled underground in 1980 by Aberfoyle Ltd and recently re-examined with modern techniques. Visible wolframite mineralisation was confirmed in quartz vein stockworks consistent with known Foleys Zone geology. While true widths of mineralisation remain to be determined, the downhole intercepts provide compelling evidence of resource upside beyond current boundaries.
Bottom Line?
With a resource update imminent and metallurgical tests underway, Cleveland’s evolving critical minerals profile could reshape Elementos’ growth trajectory.
Questions in the middle?
- How will the updated MRE impact the overall valuation and development timeline of the Cleveland Project?
- What metallurgical recovery rates can be expected for rubidium and fluorspar alongside tungsten?
- Could further drilling reveal additional extensions beyond the current Foleys Zone boundaries?