THE DRILL SERGEANT: Ventnor Resources (ASX: VRX) released results from an independent estimate of the Mineral Resource at the company’s Muchea silica sand project, located 50 kilometres north of Perth.
Ventnor Resources declared the Mineral Resource estimate (MRE) for the Muchea project comprises a combined total of JORC Code 2012-compliant Indicated and Inferred Mineral Resources of 191 million tonnes at 99.6 per cent silicon dioxide (SiO2).
The Indicated component of the MRE comprises 19 million tonnes at 99.7 per cent SiO2, with the Inferred component being 172 million tonnes at 99.6 per cent SiO2.
Ventnor explained the Mineral Resource estimate was carried out by CSA Global, 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 company said the large Maiden Mineral Resource of high-grade silica sand vindicated its decision to acquire the 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 much larger Mineral Resource
Ventnor believes 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 round of testwork is being finalised, with additional attritioning that will be used to determine the final circuit design to produce a high-quality feedstock for ultra-clear glass production.
Testwork results are expected during the December 2018 quarter, to be followed by engineering studies.
“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,” Ventnor Resources managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.
“The company will move quickly into detailed engineering and mining studies to support mining proposals for forwarding to relevant Government agencies to commence the approvals process.”