High Purity Quartz Limited (UltraHPQ) is delighted to have received an upgrade to JORC Measured & Indicated category for 1.2million tonnes of 99% pure Si02 in situ . This follows the completion of a recent 12 hole drilling campaign undertaken by Mining Plus Pty Ltd (Mining Plus) to further de-risk the existing Inferred resource.
This provides UltraHPQ with sufficient volume to support 12+ years project life with drilling to 70m allowing for further exploration potential at depth and along strike.
The upgrade is timely as UltraHPQ seeks to raise capital to take the project to the next level in conjunction with its strong and supportive project stakeholders.
Nick Nifakos of Mining Plus Pty Ltd commented “Achieving a measured & indicated resource adds a lot of confidence, not only geologically but to the overall business. Mining Plus supports HPQs next round of strategic studies and work”
UltraHPQ CEO, Stuart Jones commented, “we have now de-risked this important resource for the next decade and beyond with plenty of near term volume upside for what is a fundamentally critical mineral globally. Much of the green-tech and hi-tech end use applications, which are driving our future, depend on long-term reliable supply of ultra high purity quartz sand“.
Jones added, “we have shown, through in-house testwork, a capability to refine the quartz into an ultra pure sand for use in high value applications. The next step is to have the in-house work externally validated as part of a PFS to be completed in the next 9-12 months. In conjunction, product development to Solar PV and Semiconductor grade sand will continue“.
Jones concluded, “We now have a strong resource platform for the next phase works which we will undertake via engagements with world-class, blue-chip counterparties who are ready to progress. I would like to thank the Mining Plus team in helping UltraHPQ to achieve this solid outcome and for their continued support.”