- Corella Resources (CR9) has been granted a tenement at its Bonnie Rock Silica Project, located near Beacon, Western Australia
- The tenement was granted by the Department of Mines, Industry regulation and Safety
- Corella has commenced land access negotiations which will allow exploration programs to begin
- Corella is trading up 6.67 per cent at 4.5 cents per share at 1:36 pm AEST
Corella Resources (CR9) has been granted a tenement at its Bonnie Rock Silica Project, located near Beacon, Western Australia.
The tenement was granted by the Department of Mines, Industry Regulation and Safety and covers an area of 70.93 squared kilometres of the Wheatbelt region.
Corella has commenced land access negotiations, which will allow exploration programs to begin.
In late 2020, Corella applied for an exploration licence over the Bonnie Rock ground.
Historical sampling by the Geological Survey of Western Australia at three separate outcropping quartz veins within the project returned high grade silica values.
Samples from the three identified outcropping quartz veins have been submitted to the laboratory for analysis.
After receiving these results, the company will develop a detailed exploration program with the aim to define the dimensions and grade of the quartz
mineralisation at the project.
The Bonnie Rock Project provides an opportunity to supply the silica market and meet the rising demand in the Asia-Pacific markets.
Managing Director Tony Cormanck is pleased with the recent grant.
“[We] have immediately commenced the land access approvals process and look forward to getting on with our advanced exploration efforts,” Mr Cormanck said.
“With multiple assays pending, along with our ongoing technical evaluation, we look forward to providing further updates to the market in the coming weeks on this exciting hard rock silica project.”
Corella was trading up 6.67 per cent at 4.5 cents per share at 1:36 pm AEST.