VRX Silica (ASX: VRX) today provided clarification of its announcement for the grade control drill program at its Arrowsmith North silica sand project made on 11 March 2021.
In its bankable feasibility study (BFS) for Arrowsmith North, VRX has previously reported an Ore Reserve Statement (ORS) of 204Mt @ 99.7% SiO2 within the Mining Lease (M70/1389) area for the project, with the area of the proposed grade control drilling containing a Probable Ore Reserve of approximately 10.2Mt.
The grade control drilling area is wholly within the BFS reported area and is not expected to materially change the tonnage in the ORS or the BFS as reported.
The drill density proposed is, however, expected to increase the geological knowledge and confidence in the estimate of the ORS to a Proven category.
The production target of 6–10 years is consistent with that reported in the BFS. The material assumptions underpinning the production target and detailed in the BFS continue to apply and have not materially changed.
