Industrial Minerals Shares Rise On Defining Exploration Target At Pippingarra

Industrial Minerals Ltd (ASX: IND) shares were trading ~15% higher intra-day after revealing a maiden exploration target for high purity quartz (HPQ).

The HPQ exploration target of up to 3 million tonnes at 99% silica is for the Pippingarra Quarry Project in the Pilbara region of Western Australia.

Pippingarra HPQ Exploration Target range.

MRE initiated

Specifically, the exploration target is based on the reverse circulation (RC) drilling program completed by IND in December 2023.

Holes INRC003 – INRC009 in the program recorded thicknesses of white crystalline quartz over widths from 12m to 20m.

Moving forward, IND will start work on a mineral resource estimate (MRE) in parallel with metallurgical test work being conducted by potential offtake partners.

High purity quartz product processed

IND Managing Director Jeff Sweet said: “Following on from one of our potential offtake partners in China achieving a processed High Purity Quartz product grading >99.994% SiO2, we are extremely positive about the potential to supply Pippingarra quartz into high-end quartz markets.

 Sweet said that IND’s motivation to commence work towards an MRE is to leverage its unique position of having an active mining operation at the Pippingarra Quarry.

IND Pippingarra Quarry Project location and infrastructure.

“We believe this will give potential offtake partners the confidence to enter into offtake agreements with IND, knowing that we can rapidly advance to be mine ready and have a suitable mine life to support long term supply needs,” added Sweet.

Phase 2 drilling program

IND is planning a Phase 2 RC drilling program to test the continuity of the quartz zones to the east of the exploration target area.

The planned drilling will comprise ~30 holes for an estimated 2,500 metres.

There will also be provision for diamond drilling to obtain core for further metallurgical testing both within Australia and China.

 

 

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