- Total of 54 hole (1,021m) resource definition and exploration drill programs completed
- All holes intercepted bright white kaolin
- 47 hole (892m) Tampu Resource Definition infill drilling completed at existing Tampu project to upgrade Resource to Reserves and a fast track to PFS
- Drill core to produce a definitive bulk metallurgical test work sample to further offtake discussions and feed into feasibility studies
- Additional 7 hole (129m) exploration drill program identifies two major bright white kaolin discoveries at the Whitecap and Whitehills prospects located just 2km and 19km from Tampu adds future potential for growth
Corella Resources Managing Director,
The sonic core will also allow us to produce a definitive bulk scale composite metallurgical sample, these results will allow us to further advance our offtake discussions".
"We have also enjoyed significant exploration success with the discovery of broad intercepts of logged bright white kaolin at our Whitecap and Whitehills prospects located close to Tampu.
Logged bright white kaolin at the Whitecap prospect was an impressive 12m in hole CRAC130 and 8m in hole CRAC134 at the Whitehills prospect. Work has already commenced on designing a comprehensive drill program aimed at defining a maiden mineral resource estimate for the two new prospects".
Resource definition
The resource definition and exploration drill program was designed to upgrade the 24.7Mt of Inferred Mineral Resource1 into Indicated / Measured Resource categories and conversion into Mineable Reserves. These Reserves will be used to underpin a Pre-Feasibility Study for the
47 infill holes for a total of 892m were drilled within the current inferred resource footprint at Tampu and designed to increase the geological confidence level of resource and conversion into Mineable Reserves. Refer to Annexure A for drill hole details. Bulk test from core will help advance offtake discussions and results will feed into feasibility study for the
Further exploration
In addition to the resource drilling, a further 7 exploration aircore holes for 129m were drilled, using local contractors Westside Drilling. All holes intercepted bright white kaolin, refer to Annexure B for drill hole details. 5 of these holes were drilled at the Whitecap Prospect located ~2km south south west of the Tampu Deposit, and 2 holes were drilled at the Whitehills Prospect, approximately 19km East of the current Tampu Deposit. All 7 holes intercepted bright white kaolin at shallow depths. No historical drilling has occurred between these prospects and the Tampu Deposit.
These two new prospects being drilled large distances away from the existing Tampu Deposit adds significant scale for resource growth. The Company is currently designing a comprehensive drill program in order to define maiden mineral resource estimates at the new prospective locations.
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About
Contact:
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WWW: www.corellaresources.com.au
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