EXPLORATION & DEVELOPMENT

Allup updates Sparkler silica resource

TWO months after listing, Allup Silica is hoping this morning’s resource update for its Sparkler A silica sands project will turn around its dwindling share price.

 Sparkler sits on cleared agricultural land

Sparkler sits on cleared agricultural land

Just days after Diatreme Resources secured backing for its rapidly-developing 200 million tonnes of silica sands deposits in norther Queensland, relatively minnow Allup has delivered a new inferred resource for its Sparkler A exploration project in Western Australia's South-West.
 
Sparkler A (previously known as Unicup) now boasts an inferred 37Mt grading 99.66% silica and 0.2% iron in the sand fractions between 0.106-0.6mm that are suitable for high-quality glass manufacturing.
 
There is also 4Mt at 97.7% silica and 0.4% iron in the fine sand fractions, 25Mt at 99.67% silica and 0.3% iron in the coarse sand fractions.
 
It is an update from October 2021's inferred in-situ resource of 73Mt at 96.6% silica and 0.4% iron.
 
Allup chair Andrew Haythorpe said the refined resource had validated its belief in the potential of the project.
 
The company completed initial metallurgical results from Sparkler A last month confirming the potential for a high-quality silica sand product.
 
With its confidence improved, it will now spend the funds reducing the iron content to increase the purity of its final products.
 
It is also looking to add tonnes from both the Sparkler B and Sparkler C areas.
 
Sparkler is distinct from the nearby Antwalker tenement that has proved so controversial with residents of the town of Quinninup due to the proximity of state forests and a lake. 
 
The Sparkler leases all sit within private land used either for farming, or previously commercial plantations.
 
Sparkler is about 300km south of Perth.  The closest port is 150km to the south-east at Albany.
 
Allup also has projects in the Kimberley and Esperance regions.   
 
Allup raised A$5 million at 20c to list on May 2, but the stock has since suffered and has traded between 9-21c.
 
At yesterday's close its stock was at 9.6c, valuing it at $8.1 million.

 

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