- West Australian kaolin and silica sand exploration company Suvo Strategic Minerals (SUV) has been granted two additional tenements for its Nova Silica Sands Project
- The tenements, E70/5332 and E70/5323, cover an area of 79 squared kilometres and includes 29 blocks
- Suvo has also received a programme of works (PoW) from the Department of Mines, Industry Regulation and Safety (DIMIRS) for exploration at E70/5001
- Drilling at that tenement will commence in early October
- Meanwhile, over at the new tenements, the company will commence a flora, fauna and vegetation study over Septemeber to inform a larger exploration program in January 2021
- On the market this morning, Suvo is up 1.52 per cent and is trading for 6.7 cents per share
West Australian kaolin and silica sand exploration company Suvo Strategic Minerals (SUV) has been granted two additional tenements for its Nova Silica Sands Project.
Nova Silica is located 270 kilometres north of Perth, Western Australia and around 138 kilometres southeast of Geraldton.
The tenements, E70/5332 and E70/5323, cover 79 squared kilometres and includes 29 blocks.
Suvo has also received a programme of works (PoW) from the Department of Mines, Industry Regulation and Safety (DIMIRS) for exploration at E70/5001.
The company also intends to lodge PoWs on the newly granted tenures, which will allow a drilling program to be undertaken following receipt of approvals.
Drilling contracts are expected to commence in early October, with drill result and a maiden JORC resource to be reported soon after.
Additionally, Suvo will conduct a targeted flora, fauna and vegetation study during Septemeber to inform a more comprehensive drilling campaign across the new tenements in January 2021.
Executive Director, Aaron Banks, said the granting of the new tenements form a contiguous landholding of 132 squared kilometres.
“Preliminary works show a similar raw feedstock grade compared to market peers which ultimately has the potential to become a globally significant silica sand resource,” he said.
“The tenements enjoy direct rail access to the Geraldton bulk handling port. We will fast track our drilling campaign, commence our environmental studies and continue to work on our resource estimates and will update the market as data comes to hand,” he added.
On the market this morning, Suvo is up 1.52 per cent and is trading for 6.7 cents per share at 11:20 am AEST.