Suvo Strategic Minerals (ASX:SUV) - Executive Director, Aaron Banks (left) and Executive Chairman, Robert Martin (right)
Executive Director, Aaron Banks (left) and Executive Chairman, Robert Martin (right)
Source: The Market Herald
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Australian kaolin producer and silica sand explorer Suvo Strategic Minerals (SUV) has completed drilling at its Pittong and Trawalla deposits near Ballarat, Victoria
  • The company has now completed an aircore drilling program, which included 54 holes at Pittong and 14 at Trawalla
  • The samples are now being analysed, which will help Suvo convert the current PERC reserves and resources into JORC-compliant ones
  • The company expects the JORC resource to be completed by the end of April, however, this depends on the timing of pending laboratory results
  • On the market today, Suvo is up 3.33 per cent and trading at 15.5 cents per share

Suvo Strategic Minerals (SUV) has completed drilling at its recently purchased Pittong and Trawalla deposits.

Just before the new year, Suvo added to its portfolio with two new deposits located 40 kilometres west of Ballarat, Victoria.

Under the aircore drilling program, 54 holes were drilled at Pittong, with another 14 completed at Trawalla. The drilling campaign will help convert the current Pan-European Reserves & Resources Reporting Committee (PERC) estimates into JORC-compliant ones.

The samples are now being sent to the Pittong plant, where some will be processed to help standardise results, while the remainder will be sent to laboratories for testing.

Once completed, the results will help Suvo plan for future production targets.

The company expects the JORC resource to be completed by the end of April, however, this depends on the timing of laboratory results.

Chief Operating Officer and Chief Financial Officer Len Troncone said Suvo has acted quickly to update from a PERC resource to a JORC-compliant resource.

“Detailed block modelling and laboratory test work will now be conducted to provide the data required to determine JORC-compliant resources and reserves,” he said.

“Results are expected by the end of April, depending on laboratory
availability. This is an important step in confirming the extent of the known kaolin resources which will assist Suvo in planning for the future with the objective of optimising production outputs and extend the life of our mines,” he added.

On the market today, Suvo is up 3.33 per cent and trading at 15.5 cents per share at 12:10 pm AEDT.

SUV by the numbers
More From The Market Herald

" Alchemy Resources (ASX:ALY) commences aircore drilling at Karonie

Aircore drilling is underway at Alchemy Resources' (ASX:ALY) Karonie gold project 110 kilometres east of Kalgoorlie,…
Technology Metals (ASX:TMT) - Managing Director, Ian Prentice

" Technology Metals (ASX:TMT) expands MoU for vanadium redox flow batteries

Technology Metals (ASX:TMT) is set to expand a memorandum of understanding which was first executed in…

" Silver Lake Resources (ASX:SLR) wins bid for TSX-listed Harte Gold

Silver Lake Resources (ASX:SLR) has won its bid to acquire TSX-listed gold mining company Harte Gold.
Australasian Gold (ASX:A8G) - Managing Director, Qingtao Zeng

" Australasian Metals (ASX:A8G) kicks off 2022 exploration works

Australasian Metals (ASX:A8G) kicks off 2022 exploration programs at its Mt Peake and Barrow Creek lithium…