Key highlights

  • Eleven further holes at Ringrose returned 17 significant intersections for 3,946 m of drilling, with three holes pending.
  • A previously unrecognised offset suggests Ringrose is open at depth toward the Pine Hill Granite.
  • Ring River returned seven significant intersections from 12 holes drilled this year, including 1.8 m at 7.13% Sn.

Metals X Limited (ASX:MLX) released an exploration update on 7 October 2026 for near-mine drilling at the Renison Tin Operations in Tasmania, in which it holds a 50% interest. Renison is managed by Bluestone Mines Tasmania Joint Venture Pty Ltd on behalf of the owners, and all results are reported on a 100% basis.

Ringrose results

Since the previous Ringrose update on 18 November 2024, 11 further surface diamond holes have been completed for 3,946 m, returning 17 significant intersections, with three holes awaiting assays. New results from a previously unrecognised offset include 5.4 m at 2.41% Sn from 323 m and 2.6 m at 1.98% Sn from 339 m in S1778, and 2.7 m at 1.22% Sn from 332 m in S1777.

Ringrose lies about 700 m south of existing Renison development. The company reports that mineralisation is hosted in the east-west striking, south-dipping Acacia Structure. The 2022 discovery hole, S1671, intersected 26.93 m at 4.57% Sn. Additional Ringrose material is included in the 2026 Renison Mineral Resource inventory.

Ring River results

Surface drilling at Ring River in 2026 has delivered seven significant intersections from 12 holes totalling 5,047 m. Results include 1.8 m at 7.13% Sn from 374 m in S1782, 1.5 m at 4.62% Sn from 350 m in S1780, 3.2 m at 1.52% Sn from 334.9 m in S1779 and 2.9 m at 1.82% Sn from 171.8 m in S1772. The company says these results align with and extend Renison South Basset mineralisation by 200 m.

Development setting

The area lies within the existing Mining Lease and about 700 m from underground workings. The company states it can potentially be developed with little or no additional surface infrastructure.

Risks shareholders may weigh

Significant intersections are narrow in several cases, and drilling intercepts do not confirm continuity or economic grade across the deposit. Metals X holds a 50% interest and Renison is managed by a joint venture manager. Pending assays, mine planning, tin prices, operating costs and approvals could affect outcomes.

The offset at Ringrose indicates the mineralisation extends at depth, but further drilling is needed to define it.

What's next

Three Ringrose holes are pending assay, and drilling around the offset toward the Pine Hill Granite is indicated by the results. The company says the new Ring River results add to the potential to extend the long mine life of the Renison operations.