Accelerate Resources (ASX:AX8) announces a maiden Inferred mineral resource of 1.2 million tonnes (Mt) @ 19.1% manganese (Mn), using a 15% Mn cut-off grade, for its Woodie Woodie North Manganese Project in Western Australia.
The $22.65 million market capitalisation company says the resource is based on its 2022-2023 drilling campaigns and historical drilling conducted at the Area 42, Barra North, and Barra South areas.
Further, Accelerate reports that exploration targets total 5.3Mt to 10.7Mt at 10% – 19% Mn for the targets and prospects within Woodie Woodie. Area 42 delivered the largest mineral resource of 0.7Mt @ 20.7% Mn using a 15% Mn cut-off grade.
The maiden mineral resource, combined with the exploration target estimates, confirms Woodie Woodie’s ‘high-grade’ and scale potential, according to the company.
Independent resource consultancy ERM Group Company was engaged to complete the mineral resource and exploration target estimates.
Accelerate Resources Executive Technical Director Steve Bodon says this mineral resource represents a ‘significant’ step forward for the project.
“We are focused on growing the mineral resource inventory over the project area, and the company is well positioned to achieve this with the significant upside opportunity the exploration targets present.”
“We are focused on growing the mineral resource inventory over the project area, and the company is well positioned to achieve this…”
The company notes a proposed phase five reverse circulation (RC) drilling program is under consideration for 2024 to comprise extensional resource definition drilling to grow the mineral resource inventory and follow up on the recent discovery of ‘large’ manganese outcrops in the Parsons Creek and Gum Creek corridors.
Accelerate says at Parsons Creek, ‘significant’ manganese outcrops span an area of 5km by 2.5km and exhibit the size and mineralisation characteristics consistent with a potentially ‘large’ mineralised system in the area.
Exploration drilling is being considered at Area 40, 41, and 46, where ‘significant’ manganese outcrops have been uncovered.
At Gum Creek, several ‘large’ areas of manganese outcrop have not been drill-tested to date. Area 43 is the largest, where the sub-horizontal dolomite/chert interface shows surface mineralisation over an area of 2km by 0.5km. This area represents a ‘high-priority’ target for drilling.
The company also notes a proposed metallurgical testwork program is under consideration for future Scoping- to Prefeasibility-level technical studies for a beneficiation plant.
Based on the testwork results, this will be followed up with a possible diamond core drilling program for more definitive metallurgical testwork consistent with crush size optimisation, plant equipment performance, and pilot-plant dense media drum testwork.
Accelerate Resources is an ASX-listed manganese developer focused on becoming the next manganese producer in Australia.
As of 30 September 2023, the company had $737,000 cash at hand, according to its latest quarterly report. Post-quarter-end, the company launched a $3.6 million share placement.
Write to Aaliyah Rogan at Mining.com.au
Images: Accelerate Resources
