THE BOURSE WHISPERER: VRX Silica (ASX: VRX) has had Mining Leases granted for the company’s Arrowsmith North and Arrowsmith Central silica sand projects, located north of Perth in Western Australia.
VRX Silica has completed studies on the projects that demonstrate combined 3600-hectare Mining Lease areas can support over 100 years of production.
The Arrowsmith North Mining Lease area contains Probable Ore Reserves of 204 million tonnes at 99.7 per cent silicon dioxide (SiO2).
The Arrowsmith Central Mining Lease area contains Probable Ore Reserves of 18.7 million tonnes at 99.6 per cent SiO2.
“The grant of Mining Leases for our Arrowsmith Silica Sand Projects is another significant milestone for VRX Silica, hot off the heels of the Mining Lease granted for our Muchea Silica Sand Project,” VRX Silica managing director Bruce Maluish said in the company’s ASX announcement.
“As for Muchea, there is strong demand for Arrowsmith sand and we will now look to finalise sales contracts for high-quality silica sand products and secure the necessary funding for the development of these projects.
“All three projects have outstanding economic prospects and will support a substantial export industry in Western Australia providing significant financial and employment benefits to the State.
“With all three Mining Leases granted and development of our projects on-track, VRX Silica is truly a global player in high-quality silica sand supplies.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE