Stellar Resources Surpasses 100,000 Tonnes of Tin at Heemskirk – What’s Next?

Resource Upgrade Highlights

Stellar Resources Limited (ASX: SRZ) has delivered a substantial boost to its flagship Heemskirk Tin Project in western Tasmania, reporting a 41% increase in the Mineral Resource Estimate (MRE) for the Queen Hill deposit. The updated estimate now stands at 4.11 million tonnes grading 0.85% tin, containing approximately 34,900 tonnes of tin metal. This uplift contributes to a total Heemskirk resource of 9.5 million tonnes at 0.93% tin, equating to 88,100 tonnes of contained tin.

When combined with the nearby St Dizier satellite deposit, the company’s total tin inventory surpasses the 100,000-tonne mark; a significant milestone that reinforces Heemskirk’s position as the highest-grade undeveloped tin project in Australia and the third highest-grade globally among peer projects.

Technical Advances and Methodology

The resource upgrade was underpinned by new drilling data and a refined geological model that lowered the cutoff grade from 0.6% to 0.4% tin. This adjustment reflects the current robust tin price environment, which has surged above US$50,000 per tonne in 2026, and allows for a broader mineralised envelope to be considered in the resource model. Independent consultant Haren Consulting Pty Ltd completed the updated MRE, employing advanced geostatistical techniques and incorporating ore sorting impacts anticipated in the ongoing Prefeasibility Study (PFS).

Drilling campaigns since 2023 have added 7,780 metres at Queen Hill and 5,704 metres at the Severn deposit, with the latter’s updated MRE expected next quarter. The company’s Managing Director, Simon Taylor, emphasised the importance of these results, noting that the enhanced resource base provides a strong foundation for optimising project economics and advancing the PFS scheduled for completion in the first half of 2026.

Project Outlook and Market Position

Heemskirk’s tin mineralisation is hosted within structurally controlled vein systems and high-temperature carbonate replacement zones, with cassiterite as the dominant tin mineral. The project’s geological setting and high-grade nature position it favourably amid rising global tin demand, driven by applications in electronics and emerging technologies.

Stellar Resources aims to become a producer of 3,000 to 3,500 tonnes per annum of payable tin, representing about 1% of global supply. While this target remains aspirational, the resource upgrade and ongoing metallurgical test work, including ore sorting to enhance feed grade and recovery, are critical steps toward realising this ambition.

Environmental baseline studies and mining licence approvals are progressing, supporting the company’s development timeline. The updated resource and forthcoming Severn MRE will feed directly into the PFS, which will further define the project’s economic viability and potential scale.