Pinnacle hits the clay running with kaolin drilling at Bobalong project
Just days after listing, Pinnacle Minerals has begun resource definition drilling at its Bobalong Kaolin project in WA, after raising $4.5m at 20c a share in a heavily oversubscribed IPO.
Bobalong is the company’s most advanced project, with a drilling and a scoping study already completed prior to listing that delivered high whiteness and high brightness (80% to 85% brightness), 38.3% Al2O3, 45.9% SiO2, and a small particle size with high opacity and low impurities.
Pinnacle Minerals (ASX:PIM) says these results indicate the potential for a high value product suitable for direct shipping ore (DSO) export.
The aim of the drilling is to confirm a maiden JORC Mineral Resource estimate at Bill’s Middle.
“We are committed to the rapid development of our project portfolio, and are delighted to have commenced drilling at the Bobalong Kaolin Project just days after our ASX listing,” Executive Director, Robert Hodby said.
“The Bobalong Project is our most advanced asset, and the current phase of drilling is designed to follow-up on a successful maiden drilling program, the results of which have indicated the Project’s potential to deliver a high value direct shipping ore (DSO) product.
“The current drilling is focused on delivering sufficient results to confirm a maiden kaolin JORC Mineral Resource estimate at Bobalong, with the results to be used to help advance discussions with potential offtake partners.”
The program will also consist of targeted infill drilling around areas subject to previous drilling and will seek to identify the dolerite dike intrusive structures that are interpreted to constrain the areas of high-quality kaolin.
Results from the current phase of drilling will also be overlayed with results from a planned airborne magnetic survey, scheduled to be flown in June.
Pinnacle says this will aid in the development of a fuller exploration model of the Bobalong Project.
Plus, this work will also assist in identifying targets for a maiden drill program at the neighbouring Holly Kaolin Project which remains unexplored since historic drilling by CRA in 1995 identified kaolin over an area of 10km x 4km with depths up to 35m, that have never been followed up.
This article was developed in collaboration with Pinnacle Minerals Limited, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.