Australasian Metals Limited

Option to Acquire High Pure Quartz Project in the Northern Territory

Australasian Metals Limited (ASX: A8G, Australasian or the Company) is pleased to advise that the Company has entered into an Option Agreement with Verdant Minerals Limited regarding the Dingo Hole High Pure Quartz Project (EL31078) (Dingo Hole HPQ Project). The acquisition of the highly prospective project will provide Australasian with exposure to the rapidly growing High Pure Quartz (HPQ) sector.


Highlights

  • Australasian has signed an option to acquire the Dingo Hole High-Purity Quartz project in the Northern Territory
  • High Pure Quartz (HPQ) is defined relative to the IOTA® standard and is a key strategic raw material for global semiconductor and electronics industries
  • HPQ resources that can be processed to meet the IOTA® standard are rare globally and growth in AI technologies is resulting in surging demand

Dingo Hole High Pure Quartz Project Highlights:

  • Significant outcropping silica mineralisation across the project area with good road access
  • Historical geochemical data indicate over 30 surface samples contain greater than 99.94% SiO2 with only minimal sample preparation prior to assay1
  • 9 historical samples potentially meet IOTA standard with deleterious elements such as aluminium (Al) below 10 ppm and titanium (Ti) and lithium (Li) below 1 ppm

Dingo Hole High Pure Quartz Project

The Dingo Hole HPQ Project (EL31078) is located in the Georgina Basin, approximately 300km southeast of Tennant Creek (Figure 1). The project covers 35.16km2 and was subject to limited exploration by Rum Jungle Resources Limited (Rum Jungle, renamed to Verdant Minerals Limited) from 2012 to 2016.

Figure 1 Dingo Hole High Pure Quartz (HPQ) project location in Central Northern Territory

In 2015, Rum Jungle conducted a mapping and rock chip sampling program across the Dingo Hole project. 30 of the Dingo Hole samples tested were found to contain greater than 99.94% SiO2 with only minimal sample preparation prior to assay (the samples were pre-leached with 20% Hydrofluoric acid at 60˚ for 4 hours and subsequently washed in Milli-Q water). While this is highly encouraging, it is the low levels of deleterious elements such as aluminium, titanium and lithium contaminants that highlight the project’s world-class potential (Figure 2). Nine of 30 ICP-SMS samples from Rum Jungle’s program contained less than the IOTA® standard for deleterious elements aluminium (Al) at 16.2ppm (16,200ppb), nearly all were better than the 200ppb (0.2ppm) IOTA® level for lithium (Li) and all were well below the 1.2ppm (1,200ppb) level for titanium (Ti).


Click here for the full ASX Release

This article includes content from Australasian Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

A8G:AU
The Conversation (0)
Pursuit Minerals

$2.5 Million Capital Raise for Continued Development of Rio Grande Sur

Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Company”) is pleased to announce that that it has received firm commitments from sophisticated and professional investors and Directors to subscribe for a placement of approximately 714 million fully paid ordinary shares (“Shares”) in the Company at an issue price of AU$0.0035 per Share to raise gross proceeds of AU$2.5 million (“Placement”). Each placement participant will also be issued one attaching option for every two Shares subscribed for in the Placement (exercise price $0.007; expiry date 3 years from their date of issue) (“New Options”).

Keep reading...Show less
International Lithium

International Lithium


Keep reading...Show less
Reach Resources

17.65% Niobium & Exceptional REE Results from In-Situ Source at Wabli Creek Project

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to advise that assay results from the latest field program at Wabli Creek have identified a primary source of high grade Nb/REE mineralisation previously only found in surface eluvial samples on site (Figure 2).

Keep reading...Show less
European Lithium Limited

Critical Metals Corp. to Acquire Tanbreez, One of the World’s Largest1 Known Rare Earths Assets

European Lithium Limited (ASX: EUR, FRA:PF8, OTC: EULIF) (European Lithium or the Company) is pleased to announce that Critical Metals Corp. (Nasdaq: CRML) (Critical Metals Corp), a mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners, today announced that it has signed a binding heads of agreement to acquire a 92.5% controlling interest in the Tanbreez Greenland Rare Earth Mine (the Tanbreez Project) from Rimbal Pty Ltd., a company controlled by geologist Gregory Barnes (Rimbal). European Lithium will retain its 7.5% ownership in the Tanbreez Project.

Keep reading...Show less
Electric vehicle charging.

Volvo's Battery Passport Seeks to Improve EV Supply Chain Accountability

Volvo (STO:VOLV-B) has introduced a new supply chain tracker for its line of EX90 electric SUVs

The Wall Street Journal reported on June 4 that the tracker will provide transparency about the origins of raw materials — such as lithium, cobalt and nickel — used in the Swedish carmaker's electric vehicle (EV) batteries.

Known as a "battery passport," the tracker is a digital record that contains verified information on the raw materials' origins, weight, size and chain of custody, as well as the recycled content within each battery.

Keep reading...Show less
Lithium-ion battery.

5 Top Weekly TSXV Stocks: European Energy Metals Powers to 71 Percent Gain

The S&P/TSX Venture Composite Index (INDEXTSI:JX) declined 23.41 points last week to close at 588.25.

Gold was under pressure following reports on Friday (June 7) that the People’s Bank of China paused purchases of gold in May, ending an 18 month spree. Central bank buying has provided critical support for gold in 2023 and 2024.

In the first quarter of the year, China added 189 metric tons (MT) of the yellow metal to its reserves, but as gold sector expert Jan Nieuwenhuijs notes in a May 22 article, much of the Asian nation's buying has gone unreported.

Keep reading...Show less

Latest Press Releases

Related News

×