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Metals X Updates Mineral Resource of Tasmania Tin Operation, Shares Up 3%

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Metals X (ASX:MLX) said the mineral resource for its Renison tin operation in Tasmania now stands at 21.8 million tonnes at 1.38% tin for 300,300 tonnes of contained tin, according to a Monday Australian bourse filing.

The company said it measured and indicated mineral resource tonnage rose by 1.15 million tonnes, with contained tin tonnes increasing 7% to 264,100 tonnes, while inferred mineral resource tonnage fell by 200,000 tonnes, and contained tin tonnes decreased 19% to 36,000 tonnes.

The Renison life-of-mine plan and an updated ore reserve are expected to be completed in the third quarter of the year, the filing added.

Renison is owned 50% by Metals X through its Bluestone Mines Tasmania Joint Venture.

The company's shares rose 3% in recent Monday trade.

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