Materials

Altech to eyeball offloading its Kerrigan Kaolin Project

Wed 06 Apr 22, 4:12pm (AEDT)
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Key Points

  • The Kerrigan kaolin deposit in the WA now has an inferred resource of 125m tonnes at an ISO brightness of 85.2%
  • Increased tonnage is being attributed to additional drilling data that has confirmed the overall global resource
  • Altech was down around -2.20% at the close today

Altech Chemicals (ASX:ATC) was down around -2.20% heading for the close today after this morning reporting a significant kaolin resource increase at Kerrigan.

The company’s wholly-owned Kerrigan kaolin deposit in the WA now has an inferred resource of 125m tonnes at an ISO brightness of 85.2%, a 47% increase on previous 2011 estimates.

Located 20 kilometres south of the Wheatbelt town of Hyden, the Kerrigan deposit sits within exploration licence E70/4718-I, which covers an area of 480 square kilometres.

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Increased tonnage

Increased tonnage is being attributed to additional drilling data that has confirmed the overall global resource and the modification of some barren or low-grade areas.

Commenting on today’s announcement, managing director Iggy Tan notes the company will be looking to divest the Kerrigan kaolin project - developed as a separate stand-alone - should an attractive offer be forthcoming.

“Currently the kaolin feedstock required for the Johor high-purity alumina is sufficiently supplied from our 100% owned Meckering deposit, which has a life of mine of more than 250 years.”

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Altech: A 12-month share price snapshot.

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