FYI Resources Reports High-Quality Drill Results

THE DRILL SERGEANT: FYI Resources (ASX: FYI) received results from a recently completed drilling program undertaken at the company’s 100 per cent-owned Cadoux kaolin project (EL/4673) in Western Australia.

FYI Resources said the results came from a combination of diamond (DDH) and reverse circulation (RC) drilling and have confirmed the presence of high-grade, high-quality high purity alumina (HPA) feedstock characteristics.

The company indicated the drilling data and results will assist in progressing the current bankable feasibility study (BFS) and project permitting.

FYI said the combined RC and diamond drilling program was carried out at the Cadoux kaolin project to meet several key technical project objectives and contribute to delivery of a robust BFS for the company’s integrated HPA strategy.

As FYI progresses the BFS and commences pilot plant project studies, undertaking the detailed drilling campaign provides the company with an increased understanding of the project’s metallurgical model in terms of grade and variation of the deposit as a feedstock.

The drilling should also increase FYI’s technical understanding and confidence in the deposit for an upgrade from a Measured to a Proven Reserve for the first phase of mining as well as grade control data for the first phase of mining, increasing the predictability of the future production schedule.

“The program and subsequent results of the latest round of drilling are particularly pleasing as it confirms our view that the quality of the Cadoux kaolin has excellent feedstock characteristics for HPA processing and it also provides us with specific detailed information to finalise our environmental permitting and mining study phases in preparation for mine plan application – well ahead of normal submission timeframes,” FYI Resources managing director Roland Hill said in the company’s announcement to the Australian Securities Exchange.