Published On: July 21st, 2023
VRX Silica Limited (ASX: VRX) announces successfully being granted and additional mining lease at the Arrowsmith Brand Silica Sand Project. The project is located 270 km north of Perth in the Arrowsmith Silica Sand Projects area.
This lease includes a portion of the previously reported Arrowsmith Brand Resource, which consists of 523 million tonnes of silica sand with a purity level of 97.3% SiO2. It is the last of three mining lease applications at Arrowsmith that VRX Silica has applied for and been granted.
ARROWSMITH BRAND SILICA SAND PROJECT LOCATION
Bruce Maluish, the Managing Director of VRX Silica, said, “This application for a Mining Lease at Arrowsmith Brand is another extensive application of 1,995 hectares and substantially covers the previously identified Mineral Resource. The combined Mining Leases over the Company’s Arrowsmith Silica Sand Projects now amount to 5,623 Ha with a significant inventory of over 1.11 Bt2 of silica sand at an average 97.6% SiO2 which can be upgraded to glassmaking quality.”
“The Arrowsmith Brand Mining Lease is part of the very long-term planning that VRX Silica has at Arrowsmith that allows for flexibility in selecting low-impact areas for development.”
With over 40 years of experience in the mining industry, Mr Bruce Maluish, the Managing Director of VRX Silica Limited, possesses a wealth of expertise and knowledge. He holds a bachelor’s degree in Applied Science in Surveying from the Western Australian Institute of Technology, providing a solid educational foundation.
Before joining VRX Silica, MD Bruce Maluish held significant positions, including Managing Director and General Manager, in reputable organisations such as the Monarch Group of Companies, Abelle, Matilda Minerals, Hill 50, and Forsyth Mining. Throughout his career, he has effectively managed various responsibilities, including setting up and marketing IPOs, overseeing exploration to total production, and identifying, developing, and expanding projects.
With extensive knowledge and experience in resource sectors such as gold, nickel, and mineral sand, Bruce Maluish, the Managing Director of VRX Silica, exhibits exceptional leadership and management skills.
Arrowsmith Brand Mining Lease M 70/1418
The Arrowsmith Brand Mining Lease M 70/1418 spans an area of 1,995 hectares. It is situated within the boundaries of Exploration Licence E70/5027. The mining lease is adjacent to and located south of the Arrowsmith North Mining Lease M70/1389.
ARROWSMITH BRAND MINING LEASE DETAILS
ARROWSMITH BRAND MINERAL RESOURCE ESTIMATE – WITHIN M70/1418
Moving Forward
VRX Silica plans to advance the Arrowsmith brand using a well-established process similar to its other active silica sand projects. This involves conducting environmental surveys, performing additional metallurgical test work, studying the market, and conducting mine planning studies. These activities’ findings will guide the project’s scoping and pre-feasibility studies.
Investor Outlook and Financials
- VRX Silica‘s exclusive focus on silica sand allows it to concentrate its efforts and expertise on a niche within the mining industry.
- The increasing demand for silica sand, especially in emerging markets, presents opportunities for VRX Silica to capitalise on this demand.
- VRX Silica’s share price stands at AUD 0.16 per share as of July 19, 2023, with a 52-week stock trading range between AUD 0.190 to AUD 0.093 per share.
- The Company’s market capitalisation is AUD 89.6 million as of July 19, 2023.
- VRX Silica has 4 million shares issued as of date.
About VRX Silica Limited
VRX Silica is a leading ASX-listed company focused on silica sand, boasting a highly experienced board and management team. The company’s primary objective is to advance four silica sand projects in Western Australia. The Arrowsmith North Silica Sand Project and the Arrowsmith Central Silica Sand Project are situated near Eneabba, south of Geraldton. Additionally, VRX Silica is actively developing the Muchea Silica Sand Project, located north of Perth, and the Boyatup Silica Sand Project, positioned 100 km east of Esperance.
Visit the official website for the latest updates and details.
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