A listed company is hopeful of a gold rush in Tasmania's northeast.
Stellar Resources is in an ASX trading halt until at least Monday,after telling the stock exchange it's applying for 10 gold exploration licences in Tasmania's northeast.
The 10 applications will cover an area of nearly 2300 square kilometres; historical records show gold was found within these boundaries nearly 80 times.
The company believes northeast Tasmania is a continuation of Victoria's rich Western Lachlan Fold belt, which has produced around 80 million ounces for the Garden State.
The company's chairman says they're still holding onto their tin mining leases on the state's west coast as prices for the less precious metal improve.
"We remain optimistic that tin prices will continue to strengthen, supporting the advancement of the Heemskirk Tin Project into the future," said Simon O'Loughlin.
Mineral Resources Tasmania could take up to six months to approve the exploration.