VRX Silica upgrades Arrowsmith North Mineral Resource Estimate
VRX Silica (ASX: VRX) has announced the results of a drill program completed at the Arrowsmith North Silica Sand Project, including an increased Mineral Resource Estimate to 771 Mt @ 98% SiO2; an overall increase of 398 per cent.
VRX Silica (ASX: VRX) has announced the results of a drill program completed at the Arrowsmith North Silica Sand Project, located 270km north of Perth, WA.
· Arrowsmith North total Mineral Resource Estimate increased to an outstanding 771 Mt @ 98% SiO2, an overall increase of 398%
· Resource Estimate includes 248 Mt of Indicated Resource
· Arrowsmith North silica sand Mineral Resource is becoming a world class deposit
· Capable of producing silica sand products suitable for glass making, foundry and ceramics industries
· Mining Reserve estimate and BFS underway
The drill program was undertaken during March 2019 enabling a new Mineral Resource to be estimated following receipt of analytical results. The Mineral Resource Estimate for the Arrowsmith North Silica Sand Project has been upgraded to 771 Mt @ 98.0% SiO2 including an Indicated Resource estimate of 248 Mt @ 97.7% SiO2 and an Inferred Resource estimate of 523 Mt @ 98.2% SiO2.
All Mineral Resources are reported in accordance with the JORC Code 2012.
VRX Silica Managing Director Bruce Maluish said: “Significantly the Mineral Resource includes an unpredicted 313 million tonnes of white sand at 98.7% silica.
"A high-grade final product can be produced from the higher-grade feed stock which is in demand for the foundry and glassmaking industries.
“This Mineral Resource estimation will now allow the Company to finalise estimates of Ore Reserves which will support the impending BFS."
The Indicated Mineral Resource is predominately within the Mining Lease application area and the majority is anticipated to convert to Probable Reserves and hence an extremely long-life mining project.
No more drilling is required before the Company will commence mining operations. However, the Company will undertake a further testwork program on the white sand. Work is ongoing to complete the process for the Mining Lease Applications and Environmental Approvals at both the Arrowsmith North and Arrowsmith Central Silica Sand Projects.