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MENAFN - ProactiveInvestors - Australia - 12/02/2013

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(MENAFN - ProactiveInvestors - Australia) Metals X (ASX: MLX), Australia's largest tin producer, has delivered a 20% increase in the tin Ore Reserves at its world class Renison Mine, located on the west coast of Tasmania.

Renison remains the only major tin project in production in Australia and one of the few publicly held tin projects in the world.

The project now hosts an Ore Reserve of 3.96 million tonnes at 1.39% for 55,000 tonnes of contained tin, as well as a Resource of 9.64 million tonnes at 1.57% for 150,900 tonnes of contained tin.

Adding to the tin inventory is the Renison Expansion Project.

The project currently hosts a Resource of 20.46 million tonnes at 0.45% tin for 91,800 tonnes of contained tin, and a Reserve of 19.6 million tonnes at 0.45% tin for 87,800 tonnes of contained tin.

Renison is held as part of a 50/50 joint venture with the largest tin producer in the world, Yunnan Tin Group.

The key assets of the joint venture are the Renison Tin Mine, a 700,000 tonne per annum tin concentrator plant, and the Renison Expansion Project.

Meanwhile, Metals X has also increased its gold Resources and Reserves at the Central Murchison Project by 83% and 37% respectively.

The Central Murchison Resource has risen to 61.6 million tonnes at 2.52 grams per tonne (g/t) for 4.96 million contained gold ounces.

The project's Reserve now stands at 15.46 million tonnes at 2.36g/t for 1.17 million contained gold ounces.

The growth in total Resource and Reserves at the Central Murchison Project is beginning to reflect the potential of the three prolific gold mining centres that make up the project.

 






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