Elementos (ASX:ELT) discovered a shallow gold, copper, silver, and zinc target roughly 70 meters below the surface at the Cleveland tin project in Tasmania through an electromagnetic downhole survey, according to a Thursday filing with the Australian bourse.
The company submitted a work program with Mineral Resources Tasmania to conduct an exploration diamond drilling program between February and April to test the electromagnetic anomaly for further mineralization, the filing said.
Shares fell more than 3% in afternoon trade Thursday and reached their lowest since May 2020.
Price (AUD): $0.06, Change: $-0.0020, Percent Change: -3.33%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.