Molten Metals has received an exploration licence through its wholly owned unit Slovak Antimony for the Bear Creek (Medvedi Potok) Tin mine at Hnilec in central Slovakia.

Located 25km south of Spišská Nová Ves and 35km north of Rožňava, the Medvedi Potok licence covers an area of 4.37km².

It is located in the same region as the company’s Tienesgrund Antimony-Gold project.

From 1971 to 1981, state-owned enterprise Geologický prieskum carried out exploration on the result of an Sn soil anomaly.

During the exploration period, Geologický prieskum’s team drilled 47 surface drill holes, excavated 36 trenches, 82 underground drill holes, two adits and a 10m-deep shaft.

Based on the exploration results, the project was estimated to hold reserves of 863kt of ore with 0.19% Sn grade.

Molten Metals said Sn-rich parts of the Medvedi Potok deposit are identified in veins. However, the veins’ tonnage accounts for just 8% of the reserves.

Molten Metals CEO Christopher Ecclestone said: “We identified this asset some months ago and made an application for it and are very pleased to now add it to our asset base in Slovakia.

“The processing circuit that the company recently acquired is also suitable for processing of cassiterite so our goal will be to alternate processing of Antimony and Tin at our facility.

“Our next task at Bear Creek will be reopening adits to access the historic resources outlined by state geologists in the Communist era.”

The firm is planning to complete detailed mapping and bulk sampling on the project in the coming months and advance towards production.