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Allup Silica’s high-grade findings propel 348% share price surge

28 March 2024 12:38
ASX: APS

Allup Silica (ASX:APS) has announced the notable findings discovered during its recent exploration efforts at the Cabbage Spot Silica Sand Project, situated 95km from Wyndham Port, WA.

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Figure 1: Locational Map of Sparkler Silica Exploration Project Area

Results

The outcome underscores the significance of the Cabbage Spot Silica Sand Project, affirming the validity of Allup’s optimistic expectations.

In its latest sampling phase, the Project yielded extensive areas of high-purity silica sand, reaching up to 99.4% SiO2.

Notably, all 43 surface samples returned SiO2 grades surpassing 98%, with an average grade of 98.6%, indicating consistency across the board.

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Table 1: Summary of Cabbage Spot results reported, greater than 98% SiO2

As a result of these encouraging findings, Allup has initiated beneficiation test work to fully assess the potential of the silica sand and its compatibility with the standards necessary for utilisation in high-tech industries.

“We’ve now moved onto beneficiation test work to explore the full potential of the Cabbage Spot silica sand for use in high-tech and photovoltaic applications,” Allup Silica Chairperson Andrew Haythorpe commented.

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Figure 2: Sample Traverses from Reconnaissance Trip

Company commentary

Mr. Haythorpe emphasised that the return showcases the high-grade quality of silica assets and presents Allup with opportunities for potential growth.

“Our most recent sampling efforts have revealed multiple significant areas of High Purity Silica Sand, marking a significant stride in our exploration journey,” he said.

“The assays from 43 surface samples have impressively returned SiO2 grades above 98%, with an average purity of 98.6%, clearly demonstrating the superior quality of our silica sand.

“Particularly striking was our best result, showing an in-situ purity of 99.4% SiO2, which highlights the top-tier quality of our project.

“These outcomes not only confirm the high-grade nature of our silica assets but also strengthen our dedication to providing essential materials for the renewable energy industry,” he added.

APS’s Australian Security Exchange-listed share price has increased 117% and is currently trading at $0.063 (11:45 am UTC+ 8 hours).

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