The Scamander Mineral Field in Northeast Tasmania is a regional NW-SE trending mineralised corridor including Pinnacles, the historic Great Pyramid Tin Mine (RL2/2009) and the North Scamander project.

The Scamander Mineral Field contains a large number of metallic mineral occurrences hosted within folded and faulted Ordovician Mathinna Group sedimentary rocks and is underlain by a strongly fractionated alkali granite. The metalliferous nature of the district, well defined metal zonation and location above the inferred alkali granite suggest that known mineralisation in this area is spatially and genetically associated with the emplacement of the fertile granite.

Significant historic exploration for tin and base metals has been undertaken on Stellar’s Scamander EL EL19/2020 including extensive soil sampling, stream sediment sampling and drilling defining areas of anomalous Sn, Zn, Cu, Ag and Pb mineralisation.

Stellar has ‘first mover advantage’ with the majority of ground over the Scamander Mineral Field held within Stellar EL19/2020 (239km2) including the North Scamander Project, Pinnacles and multiple other high-quality targets.

Magnetic Inversion Modelling

Magnetic inversion modelling undertaken by Stellar’s geophysical consultant has shown that historic drilling at North Scamander was not deep enough to intersect the core of the magnetic feature which represents a high potential drilling target. Whilst the Pinnacles prospect is characterised by a more subtle magnetic feature, its strong surface geochemical anomalies, mapped sheeted quartz-cassiterite veins and historic drilling results combine to make the Pinnacles prospect another high potential drilling target.

Upper Vein-Breccia Zone

Stellar’s maiden exploration drillhole NSD005 completed in August 2023 confirmed a significant new high-grade Ag-Sn-Zn-Pb-In polymetallic discovery at the North Scamander Project.

Significant intercepts within the Upper Vein-Breccia Zone intersected in NSD005 included:

• 0m @ 141 g/t Ag, 0.34% Sn, 3.8% Zn, 2.0% Pb, 77 g/t In and 19 g/t Ga from 130.0m
• Including 5.0m @ 495 g/t Ag, 1.04% Sn, 5.2% Zn, 7.1% Pb, 113 g/t In and 23 g/t Ga from 130.0m
• Including 1.4m @ 353 g/t Ag, 2.29% Sn, 14.2% Zn, 8.8% Pb, 594 g/t In and 29 g/t Ga from 159.7m

Individual assay results within this outstanding intercept included; 1,035 g/t Ag, 5.75% Sn, 27.6% Zn, 21.2% Pb, 1,070 g/t In and 37 g/t Ga.

The Upper Vein-Breccia Zone contains sphalerite, galena, minor chalcopyrite, and associated pyrite hosted in massive veins, semi-massive veins, hydrothermal breccia and associated stringer-style veins.

The high-grade multi-commodity North Scamander discovery has similarities with the Sn-Ag polymetallic systems of world-class Bolivian Tin Belt.

Significant grades of critical minerals Indium and Gallium also recorded. The 77g/t average Indium grade over the 32m significant intercept compares favourably with Indium grades in known Indium-Base Metals deposits globally.

Lower Stockwork Zone

Results for the Lower Stockwork Zone intersected in NSD005 returned anomalous copper levels including 96.0m @ 0.04% Cu from 369.0m consistent with the pyrrhotite +/- chalcopyrite stockwork veining logged over this interval.

These results confirm a change in mineralisation style and metal tenor from the sulphide vein and breccia hosted Ag-Sn-Zn-Pb-In mineralisation in the Upper Vein-Breccia Zone to pyrrhotite-dominant stockwork-hosted low-grade Cu mineralisation in the Lower Stockwork Zone. Results have also confirmed the regional scale geophysical anomaly, with high magnetic susceptibility readings recorded in the Lower Stockwork Zone corresponding with presence of pyrrhotite.

The Lower Stockwork Zone results are interpreted as a possible ‘near-miss’ indicator of a potential tin system, or the low-grade margins to a copper-dominant system, with the core of the regional scale magnetic anomaly yet to be tested.

Follow up Drill Targets

The North Scamander Project is prospective for 3 styles of mineralisation;

1. High grade polymetallic vein and breccia-hosted Ag-Sn-Zn-Pb-In systems (NSD005 Upper Zone), that tend to be offset from the magnetic anomaly. This will be the immediate focus for follow up drilling at North Scamander.
2. Stockwork-hosted Cu (and possibly Sn) mineralisation, coincident with pyrrhotite and therefore the main magnetic anomaly at North Scamander, which is yet to be fully tested.
3. Greisen-style potential Sn-Li mineralisation associated with the preserved granite cupola at depth.