Vytas Resources and its 33 per cent partner Accelerate Resources have tabled the maiden JORC resource for the joint venture’s Tambellup kaolin project in WA’s south west, as Vytas steams ahead for a planned ASX IPO this quarter.
Accelerate exchanged its Tambellup project for a 33 per cent interest in Vytas’ critical minerals and technology business in November 2021. The business aims to produce high-purity alumina for the hydrogen production, solar panel and battery storage supply chain.
The terms of the deal included a $250,000 cash payment to Vytas to fund project development.
The Tambellup JORC report, prepared by independent consultant CSA Global, outlined 12.5 million tonnes of kaolinised granite with 6.7Mt of kaolin at less than 45 micron with an aluminium oxide content of 36 per cent and ISO brightness exceeding 80.
The 2021 Tambellup divestment surrounded a deal for Accelerate and Vytas to develop a new technology material company focused on Tambellup project and Vytas’ existing silica assets to become a supplier of high-purity alumina, or ‘HPA’; high-purity quartz, or HPQ, and high-purity silica for the supply chains above as well as coatings and other industrial applications.
The project is located 280km south-southeast of Perth on the Great Southern Highway, 120 km north of Albany.
The kaolin deposit occurs as a sub-horizontal layer up to 17m thick, derived by the in-situ weathering of granitic rocks consisting of quartz and feldspar minerals.
Fifty two vertical air core drill holes were punched in by Accelerate in 2020 for a total of 763m to verify historical drilling and to test for extensions of the existing, known mineralisation.
The partners predict the new technology material venture will place them both at the forefront of the renewable technology industry.
There are significant synergies with the new technology material venture, according to the duo. Vytas’ has more than 30 years’ experience in R&D, and mineral and product development with particular expertise in kaolinite mineralisation and the subsequent production of HPA, allowing Accelerate to realise the potential of the Tambellup kaolin acreage.
According to a 2021 report by Allied Market Research, the worldwide HPA market was valued at US$1.3 billion in 2019 and is projected to reach US$4.8b by 2026, growing at a compound annual growth rate of 20.7 per cent from 2020 to 2026.
Accelerate says its venture with Vytas will expose investors to the globally-significant HPQ market and the renewable energy sector.
With the Tambellup asset now under the stewardship of Vytas, Accelerate said it would be focusing on its East Pilbara manganese projects, in particular the Woodie Woodie North prospect.
It added further ground to its prospective acreage, bringing the explorers’ merged package to 240 square kilometres. The company describes the region as a prospective manganese corridor, noting the ground contains multiple structures with outcrops of mineralisation over a strike of 32km in addition to being close to road, rail and port infrastructure.
Accelerate believes significant exploration upside exists along strike and at depth from numerous drilled prospects and other untested targets across the corridor.
Encouragingly, the holding is just 70km north of the high-grade Woodie Woodie manganese mine. The world-class operation is run by the Perth-based Consolidated Minerals Australia and is capable of churning out a monstrous 1.6 million tonnes of high-grade magnesium ore per annum.
Accelerate is aiming to find its own Woodie Woodie and says its highly prospective corridor hosts multiple targets analogous to the world-class mineral system.
Is your ASX-listed company doing something interesting? Contact: firstname.lastname@example.org