25 May 2012

Tri-Star unveils strong assays

07/10/2011 Miles Nolan

Sub-penny share Tri-Star Resources (TSTR) has announced its eagerly awaited first set of assay results, and the news is positive.

Antimony explorer Tri-Star has achieved strong results following the diamond drilling of 27 holes. The first 11 holes were drilled in the South-East zone within its Turkey concession and reveal that it encountered 'high grades' of antimony. It is only 150 metres away from the old Goynuk mine so confirms the view of the board that it could be sitting on a potentially huge deposit.

The samples were sent to a lab in Izmir, West Turkey where they were crushed and prepared for assay, they were then flown to Canada. Following the success of its drilling efforts (which is all fully funded) the intention is to extend its drilling programme.

Last month Tri-Star issued its half-year results and stated that a recent report by the British Geological Survey ranked antimony as the number one of 52 rare earths that are 'most at risk from supply disruptions' and hence important to global industries.

With the price recently rising to $16,000 a tonne, the end markets for antimony remain vast. The shares have fallen to 0.715p amid the recent market malaise but continue to represent an attractive speculation for investors.

Tags: AIM market, Antimony explorer, Good assay results, Penny shares

Sector: Mining

Companies: Tri-Star Resources

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