Andromeda Metals Limited (ASX:AND) has commenced drilling at the Condooringie Halloysite- Kaolin Prospect located approximately five km northeast of the Carey’s Well Halloysite-Kaolin Deposit in South Australia.
The objective of the planned 2,000 metre aircore drilling programme is to identify extensions to the recently identified zones of high-grade halloysite-kaolin mineralisation at the Condooringie Prospect.
Managing Director, James Marsh, said analysis by Andromeda of historical drillholes previously drilled by Minotaur Exploration Limited in 2011 at the Poochera Halloysite-Kaolin Project defined a broad zone of high-grade halloysite one km to the north of the Condooringie Prospect where the April-May 2019 drilling programme intersected high-grade halloysite.
Mr Marsh said the company is still awaiting the analyses of samples submitted from the December 2019 drilling programme but based on visual appraisals of the samples collected, Andromeda was encouraged to undertake the infill and extension drilling.
The current aircore drilling has the potential to define Bright White halloysite-kaolin at Condooringie over two kilometres of strike if the two zones are shown to be linked. A JORC 2012 Mineral Resource for Condooringie is to be determined once final assays are received for both the December 2019 and current drilling programs.
The current main area of focus for the Project is on the Eyre Peninsula which comprises four tenements and is located approximately 635 km west by road from Adelaide and 130 km south-east from Ceduna.
Extensive test work has been completed on the Carey’s Well deposit, including a Scoping Study, resource drilling, bulk sampling, pilot test trials and marketing, and Andromeda is working towards a Mining Lease application as part of feasibility evaluations.
Andromeda Metals currently holds 51% of the Project and under the terms of the Poochera Halloysite-Kaolin Project Joint Venture with Minotaur, the company can acquire up to 75% of the Project by either sole funding an additional $3 million over the three year period to April 2023 or alternatively by the Joint Venture partners making a decision to mine.
