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VRX Silica Ltd.
Summary
| Project: | Arrowsmith | |
|---|---|---|
| Deposit: | Arrowsmith Central | |
| Location: | Australia | |
| Commodities: | Silica-Aluminium-Iron-Titanium | |
| Date: | 9/17/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-9-2019: VRX Silica Ltd. announces a Feasibility Study report for its Arrowsmith Central deposit at the Arrowsmith project. Arrowsmith Central BFS results incl. post-tax NPV (10%) of $147M, IRR of 60%. VRX Silica Limited (VRX Silica or Company) (ASX: VR | |
| Resources: | (Reserve, Prob.): 18.9Mt @ 99.6% SiO2 at Arrowsmith Central | |
| CP/QP: | [Overall Report]: David Reid (Internal) | |
| ABSTRACT: | VRX Silica Limited (VRX Silica or Company) (ASX: VRX) is pleased to announce details of the Bankable Feasibility Study (BFS) and maiden Probable Ore Reserve at its Arrowsmith Central Silica Sand Project (Arrowsmith Central), located 270km north of Perth, WA, the second BFS for the Company’s three advanced silica sand projects. The Probable Ore Reserve for Arrowsmith Central totals 18.9Mt @ 99.6% SiO2 as reported in accordance with the JORC Code 2012 edition1 , (JORC Code), with 18.7Mt @ 99.6% SiO2 contained within the area of the Company’s Mining Lease application (M70/1392) for Arrowsmith Central. This follows the Company’s recent announcement of a Probable Ore Reserve for Arrowsmith North totalling 223 Mt @ 99.7% SiO2 in accordance with the JORC Code, with 204Mt @ 99.7% SiO2 contained within the area of the Company’s Mining Lease application (M70/1389) for that project. VRX Silica Managing Director Bruce Maluish said: “This Reserve estimate is in accordance with our expectations and is complementary to our nearby Arrowsmith North Silica Sand Project. “Arrowsmith Central is a smaller Resource than Arrowsmith North but has the potential to still be a very long-life project with additional drilling of the Inferred Resource expected to be sufficient to realise the production target. Arrowsmith Central will produce alternative products to Arrowsmith North and will add to our available catalogue of products to be produced from our silica sand projects,” said Maluish. Following pre-referral discussions with the State EPA and Federal DoTEE, follow up surveys this month at both projects will be incorporated into formal referrals for final environmental assessment. | |
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