- Andromeda Metals (ADN) has announced a maiden ore reserve estimate for the Carey’s Well Deposit at the Poochera Halloysite-Kaolin Project in South Australia
- The ore reserve consists of 12.5 million tonnes of kaolinised granite containing 52 per cent material and consists of 15 per cent halloysite and 78 per cent kaolinite
- This reserve supports a 26-year mine life at a rate of 500,000 tonnes per annum
- Andromeda will now focus on completing a definitive study and mining lease application, with aims to mine in early 2022
- Company shares are currently steady on the market and are trading for 5.1 cents each
Andromeda Metals (ADN) has announced a maiden ore reserve estimate for the Carey’s Well Deposit at the Poochera Halloysite-Kaolin Project.
The Poochera Project is located 635 kilometres west of Adelaide in South Australia and due to the presence of high-quality halloysite-kaolin in the area, it is considered a region of global significance.
Halloysite (an aluminosilicate clay material) is a rare derivate of kaolin (a clay mineral) and it is primarily used in ceramics, porcelain and fine chine to add whiteness and strength.
The maiden ore reserve consists of 12.5 million tonnes of kaolinised granite containing 52 per cent material and consists of 15 per cent halloysite and 78 per cent kaolinite.
Source: Andromeda Metals
It is in the probable category and has been derived from the measured and indicated categories which are in accordance with JORC 2012 guidelines.
This ore reserve supports a 26-year mine life for the project with a mining rate of 500,000 tonnes per annum.
This estimate confirms a recently completed pre-feasibility study from June 1 with the study confirming the potential of Poochera to be a long-term supplier of high-quality halloysite-kaolin.
Andromeda will now focus on completing a definitive study and mining lease application, with aims to mine in early 2022.
Company shares are currently steady on the market and are trading for 5.1 cents each at 12:17 pm AEST.