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FYI Resources Completes RC Phase of Drilling Program

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THE DRILL SERGEANT: FYI Resources Limited (ASX: FYI) has completed the first phase of a detailed metallurgical drilling program underway at the company’s 100 per cent-owned Cadoux kaolin project (EL/4673) in Western Australia.

FYI Resources said the combined RC and diamond drilling program was designed to meet several key technical project objectives and contribute to delivery of a robust bankable feasibility study for FYI’s integrated high purity alumina (HPA) strategy.

The RC component of the program has been completed and samples were prepared at site and sent for a series of tests including standard kaolin suite analysis to determine the element grades and quality as well as testing the in-situ moisture of the kaolin to determine specific gravity (mass) of the deposit and other characteristics of the kaolin chemistry in relation to refining of HPA.

FYI indicated that analysis of the results is pending and will be reported to the market once received.

A major purpose of the drilling campaign is to upgrade the project’s current Measured Resource to Proven Reserve status.

To provide further project information, six RC holes were extended to provide hydrological information to calculate the water supply for the onsite beneficiation process and to incorporate the hydrological results into the project environmental study and mine plan.

“The drilling went particularly well, and we are very interested in integrating all of the results and applying it to our on-going test work programs including the pilot plant,” FYI Resources managing director Roland Hill said in the company’s announcement to the Australian securities Exchange.

“We will also be incorporating the information into our BFS and broader mine plan and environmental and permitting studies.

“To expedite FYI’s HPA development timeline efficiently, the drilling will be utilised as the grade control determining the mining plan on the first phase of mining.

“The detailed drilling campaign is consistent with our strategy of delivering a world leading HPA project, with the lead into production being de-risked.”

 

Website: www.fyiresources.com.au

 

FYI Resources to Advance Pilot Plant with R&D Rebate Cash

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THE BOURSE WHISPERER: FYI Resources (ASX: FYI) has plans to spend a payment of $300,000 it has received advanced against an expected 2019 R&D tax rebate.

FYI Resources said the funds would be directed towards the development of the pilot plant for the company’s Cadoux kaolin project in Western Australia.

The company said this would materially progress its high purity alumina (HPA) strategy of fully integrated, low-risk, low-cost production of high purity 4N (99.99%) and 5N (99.999%) alumina products.

“The funding allows us to achieve a crucial step in the support of our long term HPA strategy,” FYI Resources managing director Roland Hill said in the company’s announcement to the Australian Securities Exchange.

“The development of the pilot plant and HPA product development will greatly assist product market development with end users and technical reviews.

“The pilot plant will also provide excellent operating parameters for the production process.”

FYI has bankable feasibility testwork and an economic review (including the pilot plant development) continuing to advance as planned.

The company said it has been encouraged by the technical advances achieved by its development team in terms of the efficiency of the flowsheet as demonstrated in the achievement of the 5N purity announced earlier this month.

FYI Resources believes the pilot plant project will greatly de-risk complex technical challenges ahead of commercial production and is consistent with the company’s strategy of delivering a low-risk, high margin project.

 

Website: www.fyiresources.com.au

 

FYI Resources Drilling at Cadoux Kaolin Project

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THE DRILL SERGEANT: FYI Resources (ASX: FYI) is kicking off a detailed drilling program at the company’s Cadoux kaolin project in Western Australia.

FYI Resources said the drilling was being undertaken to further define the deposit and augment the company’s high purity alumina (HPA) strategy.

The drilling program is designed to accomplish several technical tasks for Cadoux.

FYI has planned a program utilising two drilling rigs – a reverse circulation (RC) rig and a diamond drill rig will operate in sequence to generate samples and technical data the company expects to important information for the ongoing BFS, which is expected to be complete in the September 2019 quarter.

Results will also be included in an Environmental Impact Study (EIS) report to be submitted later this year.

“This drilling program is the next phase in advancing the development of the Cadoux Kaolin HPA project,” FYI Resources managing director Roland Hill said in the company’s announcement to the Australian Securities Exchange.

“The technical accomplishments we have achieved in the development of our flowsheet design has provided us with an excellent understanding of the intricacies of attaining such a high purity (99.999%) alumina product.

“We really want to now go back to the feedstock (kaolin) to develop an better understanding of the unique characteristics of the deposit to further derisk the project and ensure quality control of the final product.

“This drilling program will provide further information to support our technical work and also add broader project value by providing secondary hydrological information and enabling environmental data collection.”

FYI outlined the primary aim of the drilling to be elevating the standard of input data to increase the technical and metallurgical understanding of the kaolin feedstock to assist in refining the process flowsheet design in developing the low-risk, low-cost production of high purity alumina products.

 

Website: www.fyiresources.com.au

 

FYI Resources Produces 99.999% (5N) Alumina

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THE BOURSE WHISPERER: FYI Resources (ASX: FYI) has produced 99.999 per cent purity alumina (Al2O3) during continued product development and benchmark variability test work for the company’s HPA (high purity alumina) project bankable feasibility study (BFS).

FYI Resources declared the purity of 99.999 per cent alumina was independently analysed and verified by Ultra Trace Pty Ltd in Perth.

The company achieved the 99.999 per cent product grade from testwork conducted as part of the BFS designed to provide data and information from the process flowsheet results of the laboratory-based test work as a replication of the full scale (production sized) process design and Locked Cycle testing.

“Achieving 99.999 per cent or 5N HPA is an extremely encouraging result,” FYI Resources managing director Roland Hill explained in the company’s announcement to the Australian Securities Exchange.

“Not only is it an incredible outcome to attain this level of purity, it also has a potentially profound impact on the overall project economics.

“Whilst focusing on the 4N as the predominant HPA market segment, FYI sought to produce 5N HPA to demonstrate the flowsheet effectiveness, as well as to develop an additional product line that could supply a market that displays forecasted long-term growth at a significant premium to the 4N market.

“Demonstrating the strong premium to the 4N market, Allied Market Research estimates 4N HPA product to sell in a range from US$30,000 to $35,000 per tonne in 2018/19 versus over US$50,000 per tonne for 5N.

“We believe the ability to generate such a ultra-high purity product continues to demonstrate the Cadoux kaolin project is world-class potential and we look forward to progressing discussions with possible end use customers.”

 

Website: www.fyiresources.com.au