Ventnor Resources Limited (Ventnor or Company) (ASX: VRX) is pleased to announce the results from the independent estimate of the Mineral Resource at its Muchea Silica Sand Project (Muchea Project), which is located 50km north of Perth.
- Total Indicated and Inferred Mineral Resource of 191 million tonnes @ 99.6% SiO2
- Includes Indicated Resource of 19 million tonnes @ 99.7% SiO2
- Metallurgical testwork to date confirms potential for very high-quality product of +99.9% SiO2 with less than 100ppm Fe2O3
- Result is from shallow hand auger and aircore drilling • Further deeper drilling expected to significantly increase the Mineral Resource
This Mineral Resource estimate was carried out by CSA Global and based on aircore and hand auger drilling carried out by Ventnor as part of its due diligence exercise during the March 2018 quarter, prior to the acquisition of the Muchea Project in July 2018.
The large Maiden Mineral Resource of high-grade silica sand vindicates the Company’s decision to acquire the Muchea Project.
The area of the Inferred Mineral Resource estimate is predominately based on shallow hand auger results and has the potential to be deeper with a significantly larger Mineral Resource.
The Company believes that the Indicated Mineral Resource area is adequate for detailed mining studies, and closer spaced drilling will also extend the area and tonnage for a potential Ore Reserve.
A third iteration of testwork is being finalised, with additional attritioning that will be used to determine the final circuit design to produce a highquality feedstock for ultra-clear glass production.
Testwork results are expected during the December 2018 quarter, to be followed by engineering studies.
Ventnor Managing Director Bruce Maluish said, “This Maiden Mineral Resource Estimate has confirmed our belief that the Muchea Silica Sand prospect is a world class high-grade deposit, which can be processed to supply almost any grade sand for glassmaking in Asia”.
SOURCE: VENTNOR RESOURCES LIMITED
DATE: NOVEMBER 20, 2018