(MENAFN- ProactiveInvestors - Australia) Stellar Resources (ASX: SRZ) has added Susanne Bunnenberg to its substantial shareholder to its roll with a 18.4% stake in the company.
Bunnenberg had acquired 41,117,649 shares from former joint venture partner Gippsland Limited for $1.8 million.
Stellar said Bunnenberg is understood to be a long term investor who is enthusiastic about its Heemskirk Tin Project in Tasmania and keen to see it becoming a producing mine.
German-based Bunnenberg also holds a 45.1% stake in Impact Minerals (ASX: IPT).
The company had in April reported that it had made a thicker than expected intersection of high grade tin with its first hole at the main Queen Hill ore body at its Heemskirk Tin project in Tasmania.
ZQ125 â€" the first diamond hole drilled into Queen Hill in 30 years â€" intersected 32 metres at 1.58% tin from 226 metres that included 10 metres at 2.54% tin from 238 metres, 5 metres at 2.49% tin from 253 metres and 7 metres at 1.67% tin from 226 metres.
Notably, comparing high tin grades with low soluble tin assays implies that more than 97% of tin is in the form of cassiterite â€" the most favourable tin mineral for processing.
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