Sky Metals High-Grade Intercepts Expand Tallebung Resource Ahead of PFS

Sky Metals (ASX: SKY) reported new high-grade intercepts from its Tallebung tin-tungsten-silver project in New South Wales, with results pointing to further resource growth ahead of a pre-feasibility study due this month.

The assays came after the cut-off for the July mineral resource estimate (MRE) update, which lifted the project's inventory to 32.7 million tonnes at 0.16% tin equivalent. That update added 58% more tin, 126% more tin in the measured and indicated category, and 163% more tungsten. It also included a maiden silver resource of 9.94 million ounces.

Chief executive Oliver Davies said the latest drilling shows the updated MRE is not the limit of the system. “All of the drilling reported in this announcement sits outside the MRE, highlighting an opportunity to grow the scale and quality of this deposit as we deliver the pre-feasibility study and move to the next stage of development,” he said.

Best intercepts included 29 metres at 0.31% tin and 0.04% tungsten from 27 metres, which contained 2 metres at 1.62% tin, 0.08% tungsten and 47.8 grams per tonne silver from 59 metres. A separate hole returned 1 metre at 4.32% tungsten and 0.08% tin from 66 metres, plus 3 metres at 1.16% tin, 0.15% tungsten and 10.6 g/t silver from 75 metres.

Earlier assays not included in the MRE update included 9 metres at 0.54% tin, 0.11% tungsten and 205 g/t silver from 67 metres, and 14 metres at 0.58% tin and 0.04% tungsten from 1 metre.

Sky said the mineralised zones remain open in all directions, suggesting the current resource may represent only a portion of a broader system. The pre-feasibility study is on track for completion later this month, which Davies described as “a major milestone in advancing Tallebung toward development”.

Further drilling is scheduled to start in the coming weeks, targeting additional resource growth and potential mine life extensions. The company sees the discovery of new mineralised zones as a chance to add tonnes and contained metal to future updates, with positive implications for mining inventory, scheduling flexibility and project economics.