Icon Resources has identified a prime target for further exploration for tin, zinc and tungsten at its Tara prospect and has also acquired the Mt Holmes tin and tungsten prospect.

At the Tara prospect, 20 kilometers north east of Hillston in Central New South Wales, Icon has identified a prime target for further exploration buried beneath recent cover sediments. Tin prices last traded at USD 32,300 per tonne and have been steadily climbing over the past year. Overall, tin experienced nearly a 60% rise in 2010 and Icon is looking to capitalize on this trend.

The company said that highly anomalous tin to ore grade tin values have been found in several holes drilled to the basement and cover contact but appear to be restricted to the margins of the basement highs just above the contact. The basement highs are now regarded as prime targets for tin and zinc mineralization and Icon is evaluating how best to fund the drilling of these targets.

Icon is in the process of bringing the Mt Carbine tungsten project in Far North Queensland back into production. The Mt Holmes exploration tenement, acquired by Icon in mid 2010, contains the Mt Holmes prospect and is 20 kilometers south of Mt Carbine and is little explored.

Icon has completed a detailed review of previous exploration activities and commenced reconnaissance geological mapping of the Mt Holmes prospect and surrounding prospective terrain. An exploration target of 7.5 million tonnes to 9.5 million tonnes of sheeted quartz veining containing low grade tin and tungsten was identified in a 1982 assessment of Mt Holmes.

Icon plans to drill test the grade and continuity of the system at depth and also assess whether modern ore sorting technology can successfully beneficiate the tin bearing veins.

(Sourced from Proactive Investors)