Astro Resources NL (ASX: ARO) has achieved a significant milestone in maximizing the value of its Governor Broome Mineral Sands Project in Western Australia. The company has successfully acquired the Fouracres Retention Licence R70/22, situated in close proximity to Astro's Jack Track Heavy Mineral (HM) Deposit. R70/22 boasts an Indicated Resource of 0.72 million tons at 11.4% HM, along with an Inferred Resource of 0.22 million tons at 3.6% HM.
Notably, R70/22 contains a valuable heavy mineral suite consisting of 75% ilmenite, 3% secondary ilmenite, 4% leucoxene/rutile, and 8% zircon, resulting in a high Valuable Heavy Mineral content of 90%. This acquisition has significantly increased the total resources of the Governor Broome Project to 127 million tons, with 79 million tons falling into the Indicated category. Valued at AU$150,000 plus a 1% royalty on future production, this acquisition will play a crucial role in augmenting the project's worth, particularly in the forthcoming Scoping Study scheduled for delivery in Q1 2024.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
