Corella Resources Ltd (ASX:CR9) has unveiled an initial Mineral Resource Estimate (MRE) of 24.7Mt for the Tampu Kaolin project in Western Australia.
Completed by CSA Global and reported in accordance with the 2012 JORC Code and guidelines, Tampu is estimated to total Inferred Mineral Resource of 24.7Mt with an average yield of 53% for 13.1Mt @ 36.5% Al2O3 of <45µm very high quality bright white kaolin with low impurities.
Managing Director, Tony Cormack, said the high purity specification of the Tampu deposit highlights the potential of the resource to qualify as feedstock for the target HPA market.
The completion of the maiden Mineral Resource Estimate on the spectacular high purity bright white kaolin deposit at Tampu is a very important milestone in the development of the company,” Mr Cormack said.
“Drilling results have demonstrated the quality, scale, and huge potential of the Tampu Kaolin Project through the thick, shallow, high purity bright white kaolin deposit now defined.
“ I am extremely proud of the Corella team that in just over six months from listing has delivered a Maiden Mineral Resource Estimate for Tampu, a truly fantastic and transformational achievement.
“The rapid delineation of such an outstanding quality resource at Tampu opens up some very exciting opportunities for the company, and further advances our aim of building one of Australia’s greatest kaolin companies.
“Samples have been sent to the laboratory for HPA testing and to potential offtake partners who will test the Tampu samples using their own processes, with the aim of securing offtake.
“We will now progress toward scoping and feasibility studies, with HPA test work results to underpin the economics, where we anticipate the high grade and low impurities at Tampu to translate to a low cost operation with high profit margins.”
Following listing in April earlier this year the company immediately commenced resource and metallurgical drilling facilitating the rapid completion of the Tampu Kaolin Project maiden Mineral Resource Estimate (MRE).
Mr Cormack said the maiden resource has significant potential to grow, given the 446% increase in the Company’s landholdings at Tampu since listing, and that the shallow kaolin mineralisation is close to surface.
The Tampu MRE has been reported using a <=1.2% Fe2O3 cut-off, being a statistical break in the modelled data and when plotted spatially (see Figure 1) demonstrates the consistent nature of the Tampu Deposit and highlights its amenability to a simple, shallow open pit operation, which will be investigated in further technical studies