TNT Mines (ASX: TIN) has gained in Friday trading after initial logging of a greenfield exploration drill hole at the Rifle Range prospect in Tasmania suggests quartz vein array intersected over highly encouraging widths.
The reconnaissance exploration drill hole was designed as an initial test of the Rifle Range prospect, one of the company’s greenfield tin-tungsten targets generated during the year.
According to TNT, preliminary logging of the drill hole suggests the targeted quartz vein array has been intersected at 99-128 metres downhole with the company targeting high-grade tin and or tungsten systems which run parallel to previously mined veins at Aberfoyle and Storey’s Creek.
Rifle Range represents a previously undrilled 1km long partially-exposed vein system that is accompanied by pathfinder zinc-copper soil anomalism.
The prospect lies in parallel to the historic Lutwyche prospect veins and is at the same orientation as the highly productive Storey’s Creek vein system which reported past production of 1.1Mt and 1.09% tungsten and 0.18% tin.
TNT Mines chairman Brett Mitchell said additional exploration targeting was underway with the company looking to determine its next greenfields exploration program.
Shares in the company were trading 0.5c, or 3.2% higher at 16c.