Join our daily newsletter At The Bell to receive exclusive market insights
Western Yilgarn NL (ASX:WYX) has unveiled a mineral resource estimate (MRE) of 168.3 million tonnes (Mt) at 36.1% Al203 (aluminium oxide) and 14.7% total SiO2 (silicon dioxide) for its Julimar West bauxite deposit in Western Australia.
The MRE was calculated with reference to a cut off of more than 25% Al2O3, and when the latter was shifted to a cut off of more than 35%, the resource was estimated at 97.1Mt at 40.5% Al2O3 and 11.3% total SiO2.
The West Julimar Bauxite Project – located in the Darling Range north of Perth – comprises mineral resource areas known as Blocks 100 to 600; the mineralisation there stretches to a strike length of 49 kilometres and up to 13km wide.
Resource extension will now be pursued, with drilling work planned for multiple areas.
Non-executive director Pedro Kastellorizos said he was pleased with the resource estimate, and the viability of the project, given its proximity to transport infrastructure such as a multi-user railway, and the strong alumina and bauxite prices.
“The Julimar West Bauxite Project presents an excellent opportunity to create value for shareholders, generate jobs in local communities, and positions the company to establish itself as a new independent, highly profitable supplier of high-quality bauxite,” he said.
“Furthermore, our technical team believe the bauxite deposits have substantial potential for
additional resource growth along strike and depth. Western Yilgarn will be planning the next phase of drilling within the project’s untested Zone with a view of expanding the current mineralised footprint.”
Western Yilgarn has been trading at 2.6 cents.
Join the discussion: See what HotCopper users are saying about Western Yilgarn and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
