Critica Gives Mt Lindsay a Fresh JORC 2012 Resource Base
Critica has restated its 100%-owned Mt Lindsay project under JORC 2012, defining 19 million tonnes at 1.09% SnEQ and containing about 49,000 tonnes of tin and 28,000 tonnes of tungsten. The estimate gives the Tasmanian project a current resource base, but it remains a mix of Indicated and Inferred material rather than an Ore Reserve.
- 19 Mt at 1.09% SnEQ at a 0.4% cut-off
- Approximately 49 kt of contained tin
- Approximately 28 kt of contained WO₃
- 12 Mt classified as Indicated
- Metallurgical work and scoping studies continue
Mt Lindsay Resource Restated Under JORC 2012
Critica Limited (ASX:CRI) has put a current JORC 2012 frame around Mt Lindsay, its 100%-owned tin-tungsten project in northwest Tasmania. At the company’s preferred 0.4% tin-equivalent cut-off, the project contains 19 million tonnes grading 1.09% SnEQ, including approximately 49,000 tonnes of tin and 28,000 tonnes of WO₃.
The estimate combines the Main and No.2, Livingstone and Reward deposits. About 12 million tonnes are classified as Indicated, containing roughly 31,000 tonnes of tin and 20,000 tonnes of WO₃, with the balance classified as Inferred. Livingstone is entirely Inferred, while the Main and No.2 deposits account for most of the higher-confidence material.
Contained Metal Depends on Equivalent Pricing
The headline SnEQ figure is not a single-metal grade. For Main and No.2, Critica’s calculation combines tin, tungsten and Davis Tube Recovery-derived magnetite, using assumed prices of US$45,000 a tonne for tin, US$2,500 per metric tonne unit for ammonium paratungstate and US$115 a tonne for 65% iron ore. Copper is excluded from the equivalent calculation, despite being estimated in parts of the resource.
That makes the 0.4% cut-off an important part of the story rather than a footnote. At a 0.3% cut-off, the project total rises to 28 million tonnes at 0.86% SnEQ, containing 63,000 tonnes of tin and 30,000 tonnes of WO₃. At 0.6%, the estimate contracts to 14 million tonnes at 1.31% SnEQ, with 36,000 tonnes of tin and 26,000 tonnes of WO₃. These are alternative scenarios, not additive inventories.
Metallurgy Supports Further Technical Work
Critica says earlier pilot-scale testing on approximately three tonnes of representative Main and No.2 material produced a 45% tin concentrate at 72% overall tin recovery, a tungsten concentrate exceeding 66% WO₃ at 83% recovery to APT, and a 65% iron concentrate at 98% recovery. Further bulk and pilot testing is under way to optimise concentrate grades and recoveries across selected mineralisation types.
The estimate is supported by 428 diamond holes totalling 78,556 metres used to geologically define the reported resources, alongside three-dimensional modelling, laboratory XRF assays and density measurements. The Main and No.2 mineralised systems remain open down plunge, according to the announcement, while Mt Lindsay and Jupiter scoping studies are targeted for completion by the end of the September 2026 quarter.
The useful distinction for investors is that this is a resource restatement, not a production decision. The contained figures still need to survive mining, processing, financial, environmental and permitting studies, and the company notes that future work or commodity prices could make a different cut-off preferable. The next test is whether the restated resource can be converted into an economic development case without losing the benefit of its unusually broad tin-tungsten mix.
Bottom Line?
The JORC 2012 restatement strengthens Mt Lindsay’s technical starting point; the scoping studies and metallurgical results now need to determine how much of that resource can support a credible project case.
Questions in the middle?
- What economics will the Mt Lindsay scoping study produce at the preferred 0.4% SnEQ cut-off?
- Can ongoing metallurgical work improve recoveries or concentrate quality across the different deposits?
- How much of the Inferred material, particularly at Livingstone, can eventually move into higher-confidence categories?
