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  • Minerals explorer Andromeda (ADN) has expanded its mineral resource at its halloysite-kaolin project in South Australia
  • At the Carey’s Well deposit the measured resource is increased by 80 per cent, and is now 15.6 million tonnes
  • The company says this upgrade gives improved confidence in the project’s resource quality
  • The company holds a 75 per cent interest in the project through a joint venture with ASX-listed Minotaur Exploration
  • Andromeda’s share price is down just over two per cent at midday trade. Shares in the company are worth 4.6 cents each

Halloysite-kaolin producer Andromeda (ADN) has updated the market with an increased mineral resource at its Poochera project in South Australia.

Following a drilling program undertaken in April and May at the project’s prominent deposit, Carey’s Well, the measured resource has expanded by 80 per cent. The measured resource is now 15.6 million tonnes.

The significant increase highlights “improved confidence in the resource quality,” the company said.

Andromeda holds 75 per cent of the Poochera project in a joint venture with fellow ASX-listed explorer Minotaur (MEP).

The halloysite and kaolin produced at the project is fit for use in the ceramic, petrochemical cracking and lithium battery markets.

The upgraded mineral resource will be included in Andromeda’s pre-feasibility study of the project, which is expected to be complete in the June quarter next year.

Andromeda has also worked on improving its ore processing technique to ensure it remains high quality. The company has been in consultation with external labs and international kaolin experts.

At midday trade, Andromeda’s share price is down 2.13 per cent, with shares selling for 4.6 cents each.

ADN by the numbers
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