Total
0
Shares
Suvo Strategic Minerals (ASX:SUV) - Executive Chairman, Robert Martin
Executive Chairman, Robert Martin
Source: The Market Herald
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Suvo Strategic Minerals’ (SUV) has managed to almost double the resource at its flagship White Cloud Kaolin Project in WA
  • The company has released an updated mineral resource estimate of 72.5 million tonnes (Mt) of bright white kaolinised granite — an increase of 84 per cent
  • White Cloud’s indicated mineral resource sits at 26.9Mt, while the asset’s inferred mineral resource is 45.6Mt
  • Suvo will use the updated mineral resource in its current scoping study for White Cloud, which is being conducted by Primero Group
  • The materials stock is also continuing offtake agreement discussions after recently signing CMM Toye Industrial Mineral Consultants
  • Shares in SUV are trading up 10.3 per cent at 16 cents per share

Suvo Strategic Minerals’ (SUV) has managed to almost double the resource at its flagship White Cloud Kaolin Project in WA.

The kaolin and silica sands producer has released an updated mineral resource estimate of 72.5 million tonnes (Mt) of bright white kaolinised granite at 80.5 per cent ISO brightness.

The new resource figure represents an 84 per cent increase compared to the previous estimate of 39.5Mt, released earlier this year.

Meanwhile, White Cloud’s indicated mineral resource now sits at 26.9Mt, while the asset’s inferred mineral resource has topped 45.6Mt.

Suvo used the lab results from a recently completed extensional drilling program at White Cloud to help generate the new mineral resource estimate.

The company will use the updated resource in its current scoping study for White Cloud, which is being conducted by Primero Group and aims to develop mine optimisations and ore production schedules for processing operations input data.

Additionally, the materials stock will also use the newly increased resource in its continuing offtake agreement discussions.

The company recently signed a non-binding term sheet with CMM Toye Industrial Mineral Consultants to supply 10,000 tonnes per annum of high-grade kaolin at a price of $850 per tonne.

“The near doubling of our resources at White Cloud shows the true potential and size of this project as does the recent market interest in the product highlighted by our recently announced agreement with CMM,” Executive Chairman Robert Martin said.

“We look forward to updating the market as we continue to progress off-take agreements, partnerships and project milestones for our White Cloud project,” Robert added.

Shares in Suvo Stategic Minerals are trading up 10.3 per cent at 16 cents per share at 11:43 am AEDT.

SUV by the numbers
More From The Market Herald

" Rafaella Resources (ASX:RFR) plans to use green energy at Santa Comba in Spain

Rafaella Resources (RFR) has signed a memorandum of understanding (MOU) with Spanish renewable energy developer Capital Energy Read after it adopted an Environmental,

" Golden Mile Resources (ASX:G88) commences RC drilling at Yarrambee

Golden Mile Resources (G88) has commenced a series of reverse circulation (RC) drilling at its Yarrambee copper, zinc and nickel project in Western

" Jupiter Mines (ASX:JMS) loses another leader

Jupiter Mines (JMS) Director Hans Mende has stepped down from his role, the latest in a string of resignations for the mining company.

" First Graphene (ASX:FGR) achieves milestone on supercapacitor materials

First Graphene (FGR) has achieved a critical milestone on its program to develop high performing supercapacitor materials.