- Diatreme Resources (DRX) increases the Galalar Silica Project’s mineral resource estimate by 22 per cent
- The Queensland-based project’s resource now sits at 75.46 million tonnes at 99.18 per cent silicon dioxide
- Diatreme says the project is positioned as a key and environmentally sustainable supplier or premium silica to Asia’s solar photovoltaic industry
- DRX is targeting first production in late 2022
- Company shares ended the day 4.35 per cent in the red to close at 2.2 cents
Diatreme Resources (DRX) has increased the mineral resource estimate for its Galalar Silica Project in North Queensland.
The resource has been upgraded by 22 per cent since the former mineral resource was updated in March this year.
As it stands, the Galalar Silica Project’s total measured, indicated and inferred mineral resource is 75.46 million tonnes at 99.18 per cent silicon dioxide — up from 61.9 million tonnes at 99.24 per cent silicon dioxide.
The mineral resource was prepared by independent consultants, Ausrocks, and is based on exploration and drilling campaigns up until this month.
CEO, Neil McIntyre, was pleased to have expanded the project’s resource once more.
“We are delighted by the further expansion of our flagship Galalar Project which is strategically positioned as a key and environmentally sustainable supplier of premium‐quality silica to Asia’s fast growing solar photovoltaic industry amid growing supply concerns,” he said.
“Galalar has the potential to be a long‐term silica operation that generates new jobs and investment for the local communities of Hope Vale and Cooktown, and together with its potential for downstream processing opportunities in Townsville has the potential to give the whole region a boost in its post‐pandemic recovery.”
The company expects to complete a preliminary feasibility study in the next few weeks. It’s also targeting environmental approvals and hopes to be granted a mining lease in the first quarter of next year with potential first production planned for late 2022.
Company shares ended the day 4.35 per cent in the red to close at 2.2 cents.