Join our daily newsletter At The Bell to receive exclusive market insights
- Andromeda Metals (ADN) has begun a drilling program at its Mount Hope Kaolin Project in South Australia
- 50 holes will be drilled on the southern half of Mount Hope, which is considered to be the thicker and higher quality portion of the project
- Infill drilling will also test for extensions of the mineralisation
- Andromeda will incorporate them into an updated mineral resource estimate and may also upgrade it from the inferred to indicated category
- While the Great White joint venture project is Andromeda’s first priority, Mount Hope presents excellent potential for growth
- Company shares are down 1.61 per cent and trading at 30.5 cents
Andromeda Metals (ADN) has begun a 50-hole drilling program at its Mount Hope Kaolin Project in South Australia.
The project is located 160 kilometres southeast of the Great White Kaolin Project which is held in a joint venture with Minotaur Exploration (MEP).
While the Great White Kaolin Project is Andromeda’s priority, Mount Hope presents excellent potential for growth opportunities.
Infill drilling will target thick, kaolinised weathered gneiss at the southern half of the Mount Hope Resource, which is regarded as the thicker and higher quality portion of the project.
Drilling will also test for extensions of the mineralisation to the south.
The company will use the drilling results to update the project’s mineral resource estimate. Depending on the results, the resource may also be upgraded from the inferred to indicated category.
Mount Hope’s mineral resource currently sits at 18 million tonnes of bright white kaolinise granite and contains two subdomains. These include ultra-bright high- purity kaoline (around 1.6 million tonnes) and high halloysite-kaolin (around 600,000 tonnes).
The ultra-bright domain comprises very high-purity, bright white kaolin that has low halloysite levels. This makes the material ideally suited to markets that specialise in coatings and polymers.
Company shares are down 1.61 per cent and trading at 30.5 cents at 10:45 am AEDT.
