Gippsland Limited: Heemskirk Tin Project Drilling Results

Gippsland Limited (ASX:GIP,FRA:GIX) reports on Stellar Resources Ltd (ASX:SRZ) drilling results at the Tasmanian Heemskirk tin project.

The press release is quoted as saying,

Gippsland and Columbus Metals Limited (“Columbus”), a subsidiary of Stellar Resources, areparticipants in an unincorporated joint venture (“Heemskirk Joint Venture”) in relation to retentionlicence 5/1997 located in Tasmania (“Licence”). Gippsland is the beneficial owner of a 40% interestin the Heemskirk Joint Venture (“JV Interest”) and under the terms of the JV Agreement Gippsland’sJV Interest is free carried by Columbus until the completion of a bankable feasibility study. Pursuantto the terms of the Heemskirk Agreement, upon completion of an Acceptable Feasibility Study (asdefined in the Heemskirk Agreement) Gippsland’s JV Interest will reduce to 30%.

For the complete press release, click here.