QUARTZ HILL - JORC Identification and Offtake
Quartz Hill is located on EPM 26702 (ASQ 100%) near the town of Mount Surprise, 200km southwest of Cairns and 290km northwest of Townsville in North Queensland.
ASQ has received $1 million from PEP in return for the exclusive right to purchase 10 million tonnes of MGSi Quartz from the mine gate at Quartz Hill at a 10% discount to the prevailing MGSi Quartz market price or such price that would constitute a fair market return to ASQ (whichever is the greater).
The funds will be used for an exploration drilling programme at Quartz Hill with the aim of establishing JORC 2012 MGSi Quartz mineral resource of at least 10Mt and a Scoping Study and application for a mining lease within a period of 1 year from the signing of the Agreement.
A reverse circulation (RC) drilling programme has commenced at the ASQG Queensland Quartz Hill Project prospective for Metallurgical Grade Silicon Quartz Lump feedstock (‘MGSi Quartz’).
The programme will be the first subsurface exploration completed on the project and marks the start of ongoing work planned at Quartz Hill under the recently announced Project Development Heads of Agreement with Private Energy Partners Pty Ltd (‘PEP’).
- The planned programme consists of around 2,000m of RC drilling and is expected to take 3 weeks to complete. Approximately 15 to 20 angled holes up to 150m in length will be drilled predominantly on the upper flanks of the Quartz Hill ridge.
- Selected samples will be analysed for trace geochemistry and other physical properties specific to the MGSi applications. Drilling and testwork results will be sent for analysis with expected results to be reported in the December quarter 2023.
Quartz Hill, Queensland
Recent drilling - September 2023, Quartz Hill, QLD
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