Diatreme Resources (ASX: DRX), an emerging developer and explorer of silica sands, has announced an 89% increase in its high-grade silica sand resource to 235 million tonnes (Mt), up from 124.1Mt, across its high-grade silica projects in Far North Queensland. The Si2 project is now the major project within the company's existing silica sand resources, surpassing the estimated 75.5Mt resource of the Galalar Silica Sand Project.
Drilling results have revealed dunes up to 54.7m thick, averaging 11.7m, across an area of approximately 1,275 hectares. The company's total silica sand resource base now exceeds 310Mt. As demand from the solar PV industry continues to boom, a scoping study is underway to assess the economic feasibility of establishing mining operations at Si2. Si2 is still open to the south and north along the Si2 dune complex, and the company plans to conduct additional drilling to identify further significant extensions to the silica resource base.
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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.
