While the world financial crisis and lower tin prices have adversely affected a number of new mine projects, several Australian Stock Exchange listed companies have reported this week on progress being made to develop new operations, although only one of the projects is actually in Australia.

Kasbah Resources has continued its drilling programme at the Achmmach deposit in Morocco and has identified a new high grade mineralized zone in the current quarter. Recent drill intercepts have ranged from 0.79% to 1.67% Sn. The deposit could potentially support a 5,000 tpy tin operation from 2011/2012. In an environment where cash is critical, Kasbah has cash in hand to support another two years’ work at current expenditure levels. However exploration at the smaller El Karit tin project nearby and a gold deposit has been suspended in order to focus attention on Achmmach.

Wolf Minerals today released results of financial modeling of the Hemerdon tungsten-tin project in the UK, following the recent announcement of a resource upgrade. The indicated resource at the project in Devon is 97.3 million tones of ore grading 0.22% tungsten trioxide and 0.023% tin. Although the economics of the project are principally dependent on tungsten, the mine could produce some 8,200 tonnes of tin over its life. The new modeling work gives the mine a median net present value of A$302 million. A feasibility study is due to be completed in May 2009, but Wolf is seeking a strategic industry partner to contribute to capital costs currently estimated at A$160 million.

Tin is also associated with tungsten trioxide at the Mount Lindsay project being drilled by Venture Minerals in North West Tasmania. The project is a magnetite (iron)-tin deposit located 15 km from the recently re-opened Renison mine and drilling has so far identified two high grade tin shoots. Venture is due to publish an initial tin/tungsten resource estimate for Mt Lindsay in the next few weeks. – ITRI