Name of the Project
Heemskirk tin project.

Location
Near Zeehan, in western Tasmania, Australia.

Project Owner/s
ASX-listed Stellar Resources. 

Project Description
Heemskirk comprises the Queen Hill, Severn and Montana deposits.

The June 2026 mineral resource estimate comprises 13.36-million tonnes grading 0.86% tin for 115 300 t of contained tin, including 8.31-million tonnes grading 0.87% tin for 71 930 t of contained tin in the indicated category and 5-million tonnes grading 0.86% tin for 43 400 t of contained tin in the inferred category. Including the nearby St Dizier satellite deposit, Stellar’s total resource base is 15.6-million tonnes grading 0.83% tin for 129 100 t of contained tin.

An updated 2024 scoping study confirmed the project’s economic potential, based on a 350 000 t/y underground mining operation producing tin concentrate from the Queen Hill and Severn deposits.

The project is based on the development of an underground mine, processing plant, tailings storage facility and surface infrastructure to mine about 350 000 t/y of ore. The updated base case envisages life-of-mine ore production of 3.894-million tonnes over a 12-year mine life.

The ore will be mined from Queen Hill and Severn, producing tin concentrate to be trucked to the Port of Burnie for export.

A longhole stoping underground mining method has been selected.

Although St Dizier adds to Stellar’s total resource base, it is not included in the current Heemskirk prefeasibility study (PFS), owing to its openpit nature; Stellar has indicated that further studies and drilling will be undertaken once mining at Heemskirk has started.

The processing plant will be built adjacent to the decline portal on the north-west side of Queen Hill.

Tailings will be thickened and pumped to the proposed tailings disposal site using a 6.7-km-long slurry pipeline.

The updated scoping study estimates life-of-mine tin production of 22 818 t.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The updated scoping study estimates a pretax net present value (NPV), at an 8% discount rate, of A$122-million and a pretax internal rate of return (IRR) of 33%, with a payback of 3.5 years. The after-tax NPV, at an 8% discount rate, is estimated at A$75-million, with an IRR of 26%.

Capital Expenditure
The updated scoping study estimates capital costs at A$71-million.

Planned Start/End Date
Not stated. Stellar expects to report completion of the PFS in the third quarter of 2026.

Latest Developments
On July 2, 2026, Stellar reported a 64% increase in the total mineral resource at Severn to 8.54-million tonnes grading 0.82% tin for 70 002 t of contained tin. The indicated resource increased by 125% to 6.05-million tonnes grading 0.84% tin for 50 739 t of contained tin.

The Severn update increased the total Heemskirk mineral resource to 13.36-million tonnes grading 0.86% tin for 115 300 t of contained tin. The company said Heemskirk remained the highest-grade undeveloped tin project in Australia and the third-highest-grade undeveloped tin project globally.

Two drilling rigs continue to operate at Heemskirk, with Stellar focusing on growth opportunities close to the current resource, including the Montana resource, depth extensions at Severn and new targets generated from geological modelling. The company expects to complete the PFS in the third quarter of 2026.

Key Contracts, Suppliers and Consultants
Haren Consulting (updated Severn mineral resource estimate).

Contact Details for Project Information
Stellar Resources, tel +61 2 8823 3179 or email srzinfo@stellarresources.com.au.