Andromeda Metals Ltd (ASX:ADN, OTC:ANDMF) has acquired a 51% interest in the Eyre Kaolin Joint Venture (EKJV) in South Australia after meeting the requirements of the Stage 1 earn-in
In August 2021, the company agreed with Peninsula Exploration Pty Ltd to earn up to an 80% interest in four tenements held by Peninsula.
These tenements, located near ADN's The Great White Project (TGWP), include kaolin prospects with properties complementary to those at TGWP.
Meets earn-in requirements
Andromeda has met the Stage 1 earn-in requirements by spending A$750,000 on exploration and evaluation activities within three years.
Drilling on EKJV tenements resulted in a combined inferred resource of 53.5 million tonnes of kaolin, announced in November 2023. This includes 27 million tonnes of Bright White, low titanium kaolinised granite (Chairlift CRM) and 26.5 million tonnes of rheology modifier kaolin (Chairlift HRM).
The low titanium content of Chairlift CRM, with an average TiO2 of 0.18%, complements the kaolin of the Great White Deposit, making it suitable for the high-quality porcelain ceramics market and as an additive or modifier for the high-end coatings market. Chairlift HRM shares the same rheological properties as Great White HRM™.
Notably, three weeks ago Andromeda progressed plans to produce the high-value critical mineral, high-purity alumina (HPA) from kaolin sourced at TGWP. It also welcomed the findings of a report by the Institute of Ceramic Technology (ITC) at the University of Castellan in Spain, which found the company’s Great White CRM™ has potential to displace zircon in ceramic tiles.
Andromeda has the right to earn an additional 29% interest in the EKJV (totalling 80%) by spending a further A$2 million on exploration over the next three years.