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VRX Silica granted mining leases for Arrowsmith Silica Sand Projects

The granted mining leases clear development for Muchea and Arrowsmith Projects with a combined post-tax NPV10 of $728 million.

VRX Silica Ltd - Vrx Silica granted mining leases for Arrowsmith Silica Sand Projects
The combined lease areas cover over 3,600 hectares and supports a mine life of more than 100 years of production

VRX Silica Ltd (ASX:VRX) has been granted the mining leases for its Arrowsmith North Silica Sand Project and Arrowsmith Central Silica Sand Project, around 270 kilometres north of Perth, Western Australia.

Arrowsmith North mining lease area contains a probable ore reserve of 204 million tonnes at 99.7% silica and the Arrowsmith Central mining lease area contains a probable ore reserve of 18.7 million tonnes at 99.6% silica.

The combined mining lase areas cover over 3,600 hectares, sufficient for over 100 years of production.

Location and plan of the Arrowsmith Silica Sand Projects

“Strong demand for Arrowsmith sand”

VRX managing director Bruce Maluish said: “The grant of mining leases for our Arrowsmith Silica Sand Projects is another significant milestone for VRX Silica, hot off the heels of the mining lease granted for our Muchea Silica Sand Project.

“As for Muchea, there is strong demand for Arrowsmith sand and we will now look to finalise sales contracts for high-quality silica sand products and secure the necessary funding for the development of these projects.”

Key outcomes and summary financial model outputs for each individual project

“Outstanding economics”

Maluish said: “All three projects have outstanding economic prospects and will support a substantial export industry in Western Australia providing significant financial and employment benefits to the State.

“With all three mining leases granted and development of our projects on-track, VRX Silica is truly a global player in high-quality silica sand supplies.”

Quick facts: VRX Silica Ltd

Price: 0.34 AUD

ASX:VRX
Market: ASX
Market Cap: $171.55 m
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