PERTH (miningweekly.com) – ASX-listed silica sand developer Diatreme Resources has reported a 22% increase in the resource estimate for its Galalar project, in Queensland.
The company on Monday reported that the Joint Ore Reserves Committee-compliant resource now stood at 75.5-million tonnes, up from the previous estimate of 61.9-million tonnes, following exploration and drilling campaigns.
“We are delighted by the further expansion of our flagship Galalar project which is strategically positioned as a key and environmentally sustainable supplier of premium‐quality silica to Asia’s fast growing solar photovoltaic industry, amid growing supply concerns,” Diatreme CEO Neil McIntyre said.
“Galalar has the potential to be a long‐term silica operation that generates valuable new jobs and investment for the local communities of Hope Vale and Cooktown, and together with its potential for downstream processing opportunities in Townsville has the potential to give the whole region a boost in its post‐pandemic recovery.”
Diatreme recently announced plans to raise A$10-million through a share placement to fund work at the Galalar project, including the delivery of a feasibility study and definitive feasibility study, early site works, exploration and for general working capital.