Australian Elementos Plans Two-Phase Development of Cleveland's 7.47Mt Resource in 2026

en.Wedoany.com Reported - Elementos (ASX:ELT) has proposed a potential two-phase development pathway for the Cleveland tin project in Tasmania, planning to develop tin-copper resources while also considering the comprehensive utilization of tungsten and other critical minerals. Managing Director Joe David presented this plan at the 2026 Tasmanian Minerals, Manufacturing and Energy Council annual conference, with Phase 1 leveraging the standalone development opportunities of tin and copper, and Phase 2 advancing the development of tungsten and related minerals.

The Cleveland project hosts a tin-copper mineral resource of 7.47 million tonnes at 0.75% tin and 0.30% copper, of which 6.23 million tonnes are classified as indicated resources and 1.24 million tonnes as inferred resources. The project also includes a probable ore reserve comprising 3.7 million tonnes of historical tailings, with the tailings grading 0.29% tin and 0.13% copper.

The Foleys deposit hosts an inferred resource of 8.49 million tonnes at 0.24% tungsten trioxide (WO₃). Elementos has also defined a conceptual exploration target ranging from 32 million tonnes (at 0.24% WO₃) to 90 million tonnes (at 0.17% WO₃), depending on the cut-off grade applied. The company noted that the current level of exploration work is insufficient to estimate a mineral resource for the entire exploration target, and subsequent work may not necessarily yield corresponding results.

Elementos pointed out that the seven minerals identified at the Cleveland project—tin, copper, tungsten, molybdenum, bismuth, rubidium, and fluorite (fluorspar)—all appear on at least one critical or strategic minerals list maintained by Australia or its allies. Drilling completed in 2024 identified tungsten, molybdenum, bismuth, rubidium, and fluorine within the same mineralized system. Metallurgical programs from laboratories in the UK, Tasmania, and Germany are evaluating potential recovery pathways for these elements.

Cleveland previously operated as an underground tin-copper mine across two periods until 1986, producing a cumulative 23,519 tonnes of tin and 9,691 tonnes of copper from 5.65 million tonnes of ore. The mine remains under an exploration license after the mining lease was rehabilitated and relinquished around 1991. Elementos holds 100% interest in the project.

The company is also processing data from a 50 line-kilometre airborne electromagnetic survey completed in June, which covered the extension of the Cleveland formation and the historical Godkin lead-zinc-silver trend. Elementos plans to compare different development options, including hard-rock tin-copper mining, tailings reprocessing, Foleys zone resource development, rubidium production, and fluorite recovery. The company is a mining exploration enterprise focused on mature tin and critical mineral assets in Spain and Australia.