Feb 09, 2021

Metallica confirms sand site has the right stuff

Metallica confirms sand site has the right stuff

Assay results from a maiden drilling program at Metallica Minerals’ Cape
Flattery silica project have confirmed significant intervals of high purity silica sand.

The results came from 22 vacuum drillholes made across the breadth of the
dune complex in December, totalling 505m of drilling and 554 assays.

“The confirmation of the continuity of high purity silica sands in the Cape Flattery sand dune system gives us further confidence for the potential to
materially increase the resource in both size and confidence,” Metallica executive chairman Theo Psaros said.

“The team at Ausrocks have now started their independent review of these results and we remain on track to announce an upgraded resource by the end of February 2021.”

Metallica’s silica sands project is adjacent to the world class Cape
Flattery mining and shipping operation owned by Mitsubishi.

Metallica said it understood dunes within its tenement (EPM 25734) contained high purity silica sands with an in-situ quality comparable to Mitsubishi’s mine.

The project has an existing JORC inferred resource of 12.85 million tonnes at 99.28 per cent SiO2 (based on hand auger work completed in 2019).

High-purity silica sands are used in industries including glass-making, foundry casting, water filtration, hydraulic fracturing and solar panels.

Metallica Minerals turned its focus to the silica sand project after divesting its Cape York bauxite interests last year.

This map shows the drill hole locations within the Metallica Minerals Cape Flattery tenement and their proximity to the Mitsubishi silica sands mine.