Stirling raises $10 m

Stirling Resources has raised a $10 million commercial bond.

Stirling Resources has raised a $10 million commercial bond in order to fund its expanding zircon portfolio.

The company’s strategic partner DCM will provide the funding to complete the mineral sands assets acquired from Matilda Minerals, recommence mining at the Tiwi Islands zircon project, undertake a significant exploration programme on the highly prospective Cape York tenements and provide funding for Olympia Resources.

The Tiwi Islands project, currently on care and maintenance, has historically produced 46,000 tonnes of zircon concentrate grading 50% zircon.

The Cape York Zircon Project, north of Weipa in Queensland, includes more than 300 kilometres of prospective coastline.

Previous preliminary exploration has identified high grade zircon occurrences and significant strandlines, with potentially low strip ratios and low slime levels.

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