Cape Flattery will get Metallica Minerals everywhere as project lifts Measured and Indicated resources by 74%
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Confidence in Metallica’s Cape Flattery Silica Sand project just went through the roof after infill drilling boosted Measured resources by 74% to 16.7Mt at 99.26% silicon oxide.
Overall, Measured and Indicated resources have increased from 47.8Mt at 99.18% silicon oxide to 51.9Mt at 99.18% silicon oxide, with the Measured resource area containing the initial mining site for the project.
Metallica (ASX:MLM) says it’s this area that contains the highest silica grades and lowest iron content, with its location close to the planned processing and transhipping facilities which will minimise material movement and costs.
The upgraded resource and a new ore reserve will be used in the definitive feasibility study (DFS) that is currently underway.
Samples collected within the measured resource area from the August 2021 drilling program have been composited to produce a representative bulk sample for metallurgical test-work, currently being processed by Minerals Technologies for plant design purposes.
MLM executive chairman Theo Psaros said the company is pleased with the significant upgrade, which will underpin its goal of producing around 1.3Mtpa of silica sand from a ROM production of 1.8Mtpa
“The updated resource continues to give us confidence in our project and that we can use these results in our upcoming definitive feasibility study that is currently underway,” he said.
There are several activities already underway to advance the Cape Flattery Silica project.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.