Suvo Strategic Minerals Limited (ASX: SUV) announced that an updated Mineral Resource estimate has been completed and reported in accordance with the 2012 JORC Code and guidelines at the company’s flagship White Cloud Project in Western Australia.
SUV reported an 84% increase in the Total Mineral Resource to 72.5Mt bright white kaolinized granite compared to the previous estimate of 39.5Mt in January 2021.
The company said that the offtake announced on 8 March with CMM Toye Industrial Mineral Consultants for A$850 per tonne confirms market interest in the White Cloud product. SUV said that the offtake discussions continue with potential local and international parties.
SUV reported that the updated Mineral Resources will be used in Suvo’s current Scoping Study being undertaken by Primero Group.
White Cloud March 2021 MRE
On behalf of Suvo, March 2021 Mineral Resource Estimate for the White Cloud project was completed by CSA Global Pty Ltd (CSA). This estimate included additional data acquired since the previous estimate relating to extensional drilling and additional tenure of E70/5517 which is now granted.
The data used to establish the resource were derived from three drilling campaigns conducted in 2019 and 2020. The total program consisted of 131 air core drillholes for 2,624m of drilling, of which 114 holes for 2,468m were within the current Mineral Resource limits. 112 drillholes had both lithology logging and laboratory assay results. 14 drillholes had lithology descriptions but without assay data. 5 drillholes had no lithology and no assay data.
Resources nearly double
Suvo reported that a total Resource of 72.5Mt of bright white kaolinised granite at 80.5% ISO brightness has been estimated for White Cloud. This is an increase of 84% over the previous estimate of 39.5Mt.
SUV noted that the Mineral Resource Indicated is 26.9Mt, and 45.6Mt Inferred, potentially supporting a multi-generational operation.
The company said that the in-situ 72.5Mt of bright white kaolinised granite yields 29.9Mt of <45μm kaolin product.
The summary of tabulated results from the existing January 2021 and current March 2021 Mineral Resource Estimates is shown below.
Suvo said that the completion of this Mineral Resource estimate will allow it to be used in the current scoping study being conducted by Primero Group to develop mine optimisations and ore production schedules for processing operations input data.
The company said that discussions with potential offtake partners are ongoing. SUV noted that Offtake announced 8 March with CMM Toye Industrial Mineral Consultants for A$850 per tonne confirms market interest in the White Cloud product.
SUV said that Diamond core drilling is planned to twin selected air core holes, to obtain undisturbed core samples to verify geology, mineralogy, and metallurgy results, and to measure in situ bulk density by the Archimedes and calliper methods.
Suvo’s Executive Chairman, Robert Martin said “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. We look forward to updating the market as we continue to progress off take agreements, partnerships and project milestones for our White Cloud project.”
*Image Source: Suvo Strategic Minerals Limited