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GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2020
Dec 7, 2020
65020_rns_2020-12-07_3ba3caee-b110-4ccc-b7aa-8569cde4ac1a.pdf
Capital/Financing Update
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ASX Announcement | 8 December 2020
Resource Identification Drilling Program Commences at White Knight Kaolin Project
- 1,000m air-core step out drilling program has commenced to the South at Suvo’s 100% owned White Knight Kaolin project in WA
Suvo Strategic Minerals Limited
ABN: 97 140 316 463
- Drilling program aims to increase the size of the existing JORC inferred resource of 31.5mt of bright white kaolinsied granite
Corporate Details:
- Assay results and resource estimates for the step out drilling campaign are expected early 2021
ASX Code: SUV
Directors:
Robert Martin Executive Chairman
Aaron Banks Executive Director
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Further detailed metallurgical test work will be conducted in the United Kingdom on bulk samples to be collected from the drilling program
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Test work on the 135 composite samples from our resource definition drilling campaign conducted in November are due imminently
Len Troncone Non-Executive Director
Dr Ian Wilson Non-Executive Director
Contact Details:
Level 9, 182 St Georges Terrace Perth WA 6000
- Updated end user analysis including detailed target markets and potential off-take pricing to follow
West Australian kaolin and silica sand exploration company, Suvo Strategic Minerals Limited (‘Suvo’ or the ‘Company’), is pleased to announce that it has commenced stepped-out air-core drilling program at their 100% owned White Knight Kaolin project 210km east of Perth, Western Australia. The drilling aims to increase the size of its maiden inferred JORC resource of 31.5mt of bright white kaolinised granite.
The Company’s resource identification program will focus on the area to the south of the main mining access area and will include up to 1,000m of air-core drilling over approximately 34 holes at depths of up to 30 meters.
T: +61 8 9389 4495 E: [email protected] W: suvo.com.au
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Additional bulk samples of product will be collected from particular areas of interest and sent to the United Kingdom for specific metallurgical test work the results of which will further define end-user specifications, grades and quality.
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Figure 1. Southern Drilling Program
Commenting on the drilling campaign, Executive Director Aaron Banks said: “following our successful 1,550m drilling program that produced 10m – 20m of ultra-bright white intercepts on the southern boundary, we are now proceeding with a larger step-out drilling program that could potentially see a significant increase in our inferred resource. As this is a newly discovered deposit, we are excited to conduct further work to fully understand the geology as our maiden inferred resource of 31.5mt sits on only half a percent of our greater exploration tenement area.”
The Company will provide further updates once drilling has been completed
Further details in respect to the maiden JORC Inferred Resource and the exploration results underpinning it, are set out in the Company’s prospectus dated 25 June 2020 (released to the Company’s market announcement platform as pre-quotation disclosure on 5 August 2020). Suvo confirms it is not aware of any new information or data that materially affects the exploration results set out in the Company’s prospectus dated 25 June 2020 and all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.
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The table below represents the JORC resource for the Company’s 100% owned White Knight Kaolin Project.
| Inferred Mineral Resource |
White kaolinised granite (Mt) |
ISO Brightness (%) | Yield (%) | Kaolin <45 micron (Mt) |
|---|---|---|---|---|
| TOTAL | 35.1 | 80.3 | 38.2 | 13.4 |
The information in this announcement which relates to exploration results and mineral resources is based on information compiled by Dr Ian Wilson. Dr Ian Wilson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the JORC Code, by virtue of his being a member of IOM3, a Recognised Professional Organisation. Dr Ian Wilson is a full-time employee of Ian Wilson Consultancy Ltd and also a Non-Executive Director of Suvo Strategic Minerals Limited. Dr Ian Wilson receives board fees in relation to his directorship. Dr Ian Wilson consents to the inclusion of the information in the release in the form and context in which it appears.
The release of this announcement has been approved for release by the Board of Directors
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Contacts:
Rob Martin
Executive Chairman E: [email protected]
Aaron Banks Executive Director
Company Profile:
Suvo Strategic Minerals Limited is a dual commodity Australian exploration and mining company listed on the Australian Securities Exchange (ASX:SUV) focused on the development of the 100% owned White Knight Kaolin Project located in the Yilgarn Craton in the Central Wheat Belt and the 100% owned Nova Silica Sands Project located in the Gin Gin Scarp near the township of Eneabba, both situated in Western Australia.